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irga5000 [103]
2 years ago
13

Jessica’s credit card is on a 30-day billing cycle, and it computes finance charges using the adjusted balance method. The follo

wing table details Jessica’s use of her credit card in the month of October. Date Amount ($) Transaction 10/1 1,240. 55 Beginning balance 10/2 36. 43 Purchase 10/10 75. 00 Payment 10/13 131. 79 Payment 10/20 41. 52 Purchase 10/22 25. 00 Purchase What is Jessica’s adjusted balance for October? a. $1,136. 71 b. $1,033. 76 c. $1,140. 55 d. $1,240. 55.
Business
1 answer:
Tom [10]2 years ago
7 0

The adjusted balance of Jessica for the month of October is $ 1033.76. In this method, monthly payment is deducted from the unlock balance, and purchase is not included in the balance.

<h3>What is the adjusted balance method?</h3>

With the adjusted balance method, the credit card company starts with the balance from the end of the last payment cycle and withdraws any payments made, and adds any credits sent to the account during the current cycle.

In the given information, to calculate the adjusted balance we will deduct the payments made from the beginning balance and ignore the purchases made for the month:

= \$\,1,240.55 - \$\,75.00 - \$\,131.79\\\\= \$\,1033.76

Hence, The correct answer is Option B.

To learn more about adjusted balance method, refer to the link:

brainly.com/question/11355738

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Inflation is 14 percent. Debt is $4 trillion. The nominal deficit is $360 billion. What is the real deficit or surplus
DiKsa [7]

Answer:

Real Surplus is $200 billion

Explanation:

Inflation = 14%

Debt = $4 trillion = $4,000 billion

Nominal deficit = $360 billion

Real Deficit = Nominal deficit - (Inflation*Debt)

= $360 - 14% * 4,000

= $360 - 560

= -$200

Hence, the answer is Real Surplus of $200 billion

8 0
3 years ago
Casey Nelson is a divisional manager for Pigeon Company. His annual pay raises are largely determined by his division’s return o
baherus [9]

Answer:

NPV: $180,285.49

IRR: 21.336%

simple rate of return: 72.13%

Explanation:

6,100,000 investment

contribution margin 3,000,000

fixed expense:       <u>     900,000  </u>

EBITA                         2,100,000

We will calculate the NPV without the depreciation, as the depreciation is the distribution of the investment cost over the project life.

If we include the depreciation we will be counting the investment amount twice. Entirely at Time 0  and then subtracting on each cash inflow.

We will calculate the NPV at 20% as is the company's discount rate. Even if the current division returns are in 24% as the company accepts project which yields 20%.

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 2,100,000

time 5 years

rate 20% = 20/100 = 0.2

2100000 \times \frac{1-(1+0.2)^{-5} }{0.2} = PV\\

PV $6,280,285.49

NPV = PV of cash inflow - investment

6,280,285.49 - 6,100,000 = 180,285.49

<u>the IRR:</u>

The internal rate of return is the rate at which the NPV of a priject is zero.

We calculate this using excel formula IRR

or a financial calculator

it could also be done with trial and error using the PV tables.

<u>I will explain you in Excel</u>

FIrst, you write the inflow and outflow per year:

-6,100,000

2,100,000

2,100,000

2,100,000

2,100,000

2,100,000

then we write on another cell:

=IRR(

then, select the cells

and press enter

21.336%

<u>the simple rate of return:</u>

(total return - investment) / investment

(2,100,000 x 5 - 6,100,000) / 6,100,000 =

4,400,000 / 6,100,000 = 0.721311475 = 72.13%

7 0
3 years ago
Required-: JOURNAL ENTRY (ACCOUNT)
damaskus [11]

- Hey there , ronisha!

Answer:

\large{ \tt{SEE \: THE \: ATTACHED \: PICTURE}}

\large{ \tt{E \: X \: P \: L \: A \: N \: A \: T \: I \: O \: N}} :

  • Full settlement generally means DISCOUNT ALLOWED.

  • Firstly , Read out the question and try to understand. It says we purchased some stuffs of Rs 30000 from the sansee stores and we payed Rs 28000 in full settlement which implies that we received the discount of Rs 30000-28000 i.e Rs 2000.

  • You must have known the rules for debit and credit. As we know In case of personal account , Debit : The receiver , We have sansee stores as the receiver so we placed it in debit side.

  • Remember: When the question says that the cash is payed through cheque , you should always consider cheque as a bank. Now , In the case of personal account , Credit : The giver. Who's the giver? Of course , bank! So , we placed it in credit side.

  • Now , In case of nominal account , Credit : the incomes or gains . The question says we received the discount so obviously it's not expenses. So, We placed discount received in credit side. You must have studied that Every debit should have equal credit. And we're done!

- Hope this helps! Please let me know if you have any questions regarding my answer and also don't hesitate to reach out to me if you need any other help! :)

7 0
2 years ago
In economics what does the term market referred to
Taya2010 [7]

I think it is the exchange of goods or services, which can be with or without money.

4 0
3 years ago
Read 2 more answers
Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Johnstone Manufacturing Company for the month
julsineya [31]

Answer and Explanation:

a. The preparation of the cost of goods manufactured statement is as follows:

Opening work in process $119,760

Direct Material    

Opening inventory $178,750  

Add: Material Purchased $343,200  

Cost of Materials Available  $521,950  

Less: Ending Inventory -$151,940  

Cost of Direct Materials Used $370,010  

Direct Labor  $321,750  

Factory Overhead:    

Indirect Labor $34,320  

Machinery Depreciation $20,740  

Heat, Light and Power $7,150  

Supplies $5,720  

Property Taxes $5,010  

Miscellaneous Costs $9,300  

Total Factory Overhead $82,240  

Total Manufacturing Costs Incurred $774,000

Total Manufacturing Costs   $893,760

Less: Ending Work in Process $101,800

Cost of Goods Manufactured $791,960

b. Now the cost of goods sold is

Cost of Goods Sold= Cost of Goods Manufactured + Beginning Finished Goods - Ending Finished Goods

= $791,960 + $91,160 - $103,320

= $779,800

5 0
3 years ago
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