At 31 October 2006 Zaid owed his suppliers $13,856. During the year to 31 October 2007, his payments to suppliers totalled s95,886, and at 31 October 2007 he owed $11,552. What is the value of Zaid's credit purchases for the year to 31 October 2007? $93,582 B 570,478 $121,294
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Q: What is the current balance that Joe Doe owes? $1270.54 2.What is the total amount that Joe charged…
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- 1. What is the current balance that Joe Doe owes? $1270.54 2.What is the total amount that Joe charged for this billing cycle? a. List the purchases that Joe made. 3. How much did Joe pay for his last payment? 4. Why was Joe charged $35 by the credit card company? 5. How much interest was Joe charged for this month? 6. What is the credit limit that Joe has for this credit card? a. What is Joe’s available credit? 7. What is APR for purchases for this credit card? 8. What is the minimum payment amount that Joe must make? 9. When is the due date for Joe to make a payment? 10. Did Joe take a cash advance on this credit card? 11.Why did you think the federal government requires that financial institutions place a “Total Minimum Payment Warning” on all credit card statements?5) Jon has a credit limit of $15,000 on his credit card. He had a previous balance of $427.51. He made a payment of $400. The total of his purchases that cycle was $989.22. What is Jon's available credit?On 1 October 2020, Nduundune had 750,000 in the bank and Sh. 126,000 in hand. During the month he had the following receipts and payments: 1 October Cash sale – receipt Sh.80,000 4 October Payment to supplier Mondo Sh.120,000 Payment of rent Sh.300,000 6 October Payment from credit customer Kapondi Sh.450,000 and Payment from credit customer Bokelo Sh.250,000 10 October Cash sale – receipt Sh. 100,000 Payment to supplier Waswa Sh.500,000 6.October Payment of hire-purchase installment Sh.150,000 17 October Purchase of new machine Sh.1,200,000 19 October Cash sale – receipt Sh.370,000 Cash withdrawn from bank for office use 75,000 20.October Payment from credit customer Moseti Sh.600,000 24 October Payment of fuel bill Sh.175,000 26 October Interest received Sh. 25,000 29 Cash taken from cash till to pay fees for daughter Sh. 25,000 Required: Prepare a two column cashbook and determine bank and cash balances at the end of the month
- 6) Jim is trying to calculate his available credit. The following information was recorded by him. His total credit line is $5,000. Previous Payments/ Balance Credits $4,421.27 $2,100 New Late Purchases Charge $889.10 $15 a) What is his new balance? b) What is his available credit? Finance Charge $12.43 New Balance Minimum Payment $25Jack Lowes $358.32 on his Visa account. He returns two items costing $23.13 and $32.77 for credit. Then he makes purchases of $43.00 and $97.14. a) How much should his payment be if he wants to pay off the balance on the account? b) Instead of paying off the balance, he makes a payment of $300 and then incurs a finance charge of $24.66. What is the balance (amount owed) on his account? a) He needs to make a payment of $ to pay off the balance. b) The balance is $Jim Garcia's monthly credit card statement has a previous balance of $405.67. It shows Jim's $300.00 payment. This month's new purchases were $12.50 and $142.32. The account posted a $45.90 credit and the finance charge was $7.65. What is the new balance?
- The following credit sales for Edan enterprises took place during May 2020: May 1: Credit sales to Axel €800 May 2: Credit sales to Bisham €500 May 4: Credit sales to Cloe €400 May 5: Credit sales to N.Roben €700 May 7: Credit sales to S.Wijnelden €300 May 10: Credit sales to T. Hector €800 May 11: Credit sales to P. Sneijder €500 May 17 Credit sales to N.Roben €600 May 23: Credit sales to Cloe €1,000 May 30: Credit sales to Axel €900 Required: (a) Record the above transactions in a sales day book (b) Record the above transactions in the following ledger accounts: (i) Sales Ledger (ii) Transfer the total to the sales account in the General ledger (c ) You have recently been hired as a book-keeper of an SME (Small and medium size) enterprise. Using a case study company in an industry of your own choice: Reflect how the case study company you have selected for purposes of this question the process of developing and maintaining books of original entry particulary with regard to…PROBLEM: On January 1, 2022, Trevor Co. sells goods with a list price of P1,000,000 on account under credit. terms of 10%, 15%, 3/10 2/15 1/20 n/30. 1. How much should be debited to Accounts receivable on January 1, 2022, under the net method? 2. Assuming the customer settled its account on January 11, 2022, what amount should be recognized as sales discount under the gross method? 3. Assuming the customer settled its account on January 16, 2022, what amount should be recognized as sales discount forfeited under the allowance method? 4. Assuming the customer settled its account on January 21, 2022, what amount should be recognized as sales discount forfeited under the net method? 5. Assuming the customer settled its account on January 31, 2022, what amount should be recognized as sales discount under the allowance method?Cynthia Roberts has a credit card account at Harry's Hardware, which uses the unpaid-balance method of computing finance charges. The periodic rate is 1.5 percent. Ms. Roberts's previous balance is $178.85, and she had payments and credits of $74.00. If she has new purchases of $98.74, what is her new balance? O $305.39 O $206.64 O $205.16 O $156.42
- 48. An Entity sold 10 units of goods with a unit list price of P2,000 on Jan. 1, 2021. The Entity offered a trade discount of 5% and a cash discount of 10%, and that the cash discount period is 10 days, and the credit period is 30 days. If the customer settles the debt on Jan. 28,2021, what is the actual amount he needs to pay? O A. P17,100 О в. B. P1,710 C. P19,000 O D. P1,900Answer the questions based on the credit card statement attached. 1. What is the finance charge for the current billing period? 2. How much is the annual interest rate of his unpaid balance is over $500?Answer in: amount% For example 13% 3. How much is the annual percentage rate if he unpaid balance is less than $500? Example: 13% 4. What is the minimum payment due? 5. What is the total amount charged for purchases made during the previous month? 6. How much credit does Joan Berelli still have available? You must calculate this as it isn't given on the credit card statement. 7. What is the new balance?The Dimitros Company records the following transactions during September 2018: Cash sales to customers totaling $6,800. Credit card sales to customers totaling $21,500. The credit card fee to the merchant is 3.0%. The credit card companies have paid all amounts due for September. A $3,000 sale on account to a long-time customer with terms of 2/10, n/30. The sale is made on September 5. The customer pays the invoice on September 14. A customer returns product they had purchased last month for $450. Dimitros accepts the return and gives the customer a cash refund. Calculate the following amounts: Service charge expense for credit card sales Sales discount (contra-revenue) for sales on account Sales returns (contra-revenue) Gross sales revenue Net sales revenue Net cash collected from sales