2.1 Determine the 'payments and credits' value, if the client paid 25% c the closing balance of the previous month's statement. 2.2 Calculate the closing balance.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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2.
Study the account summary of the following credit card bank statement:
Account numbers 3642 0243.
Debits
Account summary
Gredits
Balance brought forward
R 2 000,80
Payments and credits
Purchases and debits
R 1 380,50
Interest charged
R
22,51
Transaction fees
8,90
Closing balance
2.1
Determine the 'payments and credits' value, if the client paid 25% of
the closing balance of the previous month's statement.
2.2
Calculate the closing balance.
Refer to the transaction fee structure on p. 96 for Question 3, 4 and 5.
3.
3.1
A client wants to deposit R350 into his account.
3.1.1 How much will it cost the client to deposit the cash at the
bank's own ATM if this is his first deposit of the month?
3.1.2 How much will it cost the client to deposit the cash inside the
branch if this is his sixth deposit this month?
3.1.3 How much will it cost the client to deposit a cheque of R350
at the bank's own ATM if this is his first deposit of the month?
3.1.4 How much will it cost the client to deposít a cheque of R350
inside the branch if this is his sixth deposit of the month?
Transcribed Image Text:2. Study the account summary of the following credit card bank statement: Account numbers 3642 0243. Debits Account summary Gredits Balance brought forward R 2 000,80 Payments and credits Purchases and debits R 1 380,50 Interest charged R 22,51 Transaction fees 8,90 Closing balance 2.1 Determine the 'payments and credits' value, if the client paid 25% of the closing balance of the previous month's statement. 2.2 Calculate the closing balance. Refer to the transaction fee structure on p. 96 for Question 3, 4 and 5. 3. 3.1 A client wants to deposit R350 into his account. 3.1.1 How much will it cost the client to deposit the cash at the bank's own ATM if this is his first deposit of the month? 3.1.2 How much will it cost the client to deposit the cash inside the branch if this is his sixth deposit this month? 3.1.3 How much will it cost the client to deposit a cheque of R350 at the bank's own ATM if this is his first deposit of the month? 3.1.4 How much will it cost the client to deposít a cheque of R350 inside the branch if this is his sixth deposit of the month?
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