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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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In early America, a traditional market structure existed when A) merchants purchased goods from England. B) farmers sold produce
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Explanation:

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Bartering does have a benefit as there is something that even people with no money could get for them. Bartering may include exchanging an object for a service.

For eg, in return for a tin of apples from either a tree in their yards you might agree to work for somebody. If you choose to trade for a need, you can save cash for other requirements.

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3 years ago
What does it mean that stocks and bonds are relatively liquid? a. They are easier to buy and sell than other forms of investment
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Answer:

The answer is A.

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Illiquid means they are difficult to sell and buy or they are difficult to be converted to cash

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LO 2.1Explain how the income statement of a manufacturing company differs from the income statement of a merchandising company.
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Answer:

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Cost of Sale: Now the raw material costs plus depreciation of production machinery plus direct labour plus variable Overhead cost plus if their is any commission paid for sale of finished goods will be the cost of sale for manufacturing  company. Whereas in the case of Merchandising company, the cost of sale will be only the cost of goods they sold in the year. The depreciation charge will be minor in merchandising company as they don't have any production machineries.

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