During June, Martha's Crafts spent $900 to buy 30 handmade vases and sold 5 of them for $80 each. How much should Martha record as an expense for June? Options: A. $120 B. $150 C. $900 D. $450
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During June, Martha's Crafts spent $900 to buy 30 handmade vases and sold 5 of them for $80 each. How much should Martha record as an expense for June? Options: A. $120 B. $150 C. $900 D. $450
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- In order to purchase a home, a family borrows $30,000 at 2.25% for 3 yr. What is their monthly payment? Round to the nearest cent. A. $1,029.33 B. $56.25 C. $18.75 D. $862.56In the month of September, Billy Jo made the following purchases: $4,000.00 on September 3 $2,750.00 on September 15 $450.00 on September 29. Billy Jo’s credit card contract has a 15% APR and a minimum payment of 2%. What was Billy Jo’s balance at the end of the month? What is the minimum dollar amount Billy Jo must pay?Jerry Allison starts the month with a balance on his credit card of $1,050. On the 10th day of the month, he purchases $400 in clothes with his credit card. On the 15th day of the month he makes a payment on his credit card of $450. The bank charges 1.5 percent interest per month using the previous balance method. What would Jerry's finance charges be for the month? Multiple Choice O $18.95 $23.75 $16.95 $13.25 $15.75
- Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 27%. Complete the account activity table for Kathy. (Round your answers to the nearest cent.) Month June July Need Help? Previous Month's Balance (in $) $693.96 Submit Answer $822.08 Read It tA Finance Charge (in $) $18.50 X Purchases and Cash Advances $153.38 $76.59 Payments and Credits $300.00 $120.00 New Balance End of Month (in $) $693.96 XCarson Ltd. has prepared the following 2021 projections for its beverage company: Sales Month Cash Sales Credit Sales Мay $ 16,000 $ 68,000 June 20,000 80,000 July 18,000 74,000 August 24,000 92,000 September 22,000 76,000 Receivables have been historically collected at the following rates: • 40% in the month of sale 45% in the month following sale 15% two months after sale Inventory Purchases Month Purchase Amounts May $ 70,000 June 72,000 July 74,000 August 78,000 September 80,000 40% of purchases are paid for in cash in the month of sale, and the balance is paid the following month.Vipul k Don't upload any image please
- 24. SIMPLE DISCOUNT RATE A plumbing contractor receives proceeds of $4713.54 on a 12.5% simple discount note with a face value of $5000. Find the time of the note in days.Wilson Cafeteria issues gift cards, which are very popular in the small town where the restaurant is located. In a recent month, Wilson issued $4,000 in gift cards. Experience indicates that 80 percent of the cards will be redeemed before they expire. What is the entry to record the estimated gift card expense? Question 39 options: Gift Card Expense 3,200 Gift Card Payable 3,200 Expense for month ($4,000 × 80%) Gift Card Expense 4,000 Gift Card Payable 4,000 Expense for month Gift Card Payable 3,200 Gift Card Expense 3,200 Expense for month ($4,000 × 80%) Gift Card Payable 4,000 Gift Card Expense 4,000 Expense for monthUse the unpaid balance method to calculate the finance charge on Joanna's credit account if last month's balance was $1,350, she made a payment of $375, she bought hiking boots for $120, and she returned a jacket for $140. Assume an annual interest rate of 21%.
- At December 31, 2019, Park Beauticians had 1,000 gift certificates outstanding, which had been sold to customers during 2019 for $50 each. Park operates on a gross margin of 60%. How much revenue pertaining to the 1,000 outstanding gift certificates should be deferred at December 31, 2019? a. $50,000 b. $30,000 c. $20,000 d. $0 Back NextFrom this partial advertisement: $123.86 per month for 60 months $5,200 used car cash price $50 down payment a. Calculate the amount financed. Amount financed b. Calculate the finance charge. (Round your answer to the nearest cent.) Finance charge c. Calculate the deferred payment price. (Round your answer to the nearest cent.)Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 12%. Complete the following account activity table for Kathy. Round your answers to the nearest cent. Previous Purchases New Balance Month's Finance and Cash Payments End of Month Balance Charge Advances and Credits Month May $540.00 $177.53 $585.00
