Find how much interest will be charged for month of december

Assignment Help Financial Accounting
Reference no: EM132912937

Problem 1: Sarah started her November 1, 30-day credit card billing period with a balance of $200. She used her credit card to purchase medication costing $75 on November 6th, paid for car repairs of $600 on November 10th, and made a small payment of $100 on November 20th. her annual credit card interest rate is 18%, compounded daily. How much interest will he be charged for the month of December, assuming the average daily balance method is used?

Reference no: EM132912937

Questions Cloud

Which one is the most effective in getting attention : Of all the promotional tools we looked at, which one is the most effective in getting your attention and interesting you in a product?
Air traffic control system command center : Explain with support, the Air Traffic Tower nd detail hot it supports air traffic management to include similarities and differences with the the air traffic co
Education lesson planning : Imagine you are a substitute teacher teaching a topic of interest (your choice) to 3 different grades in elementary school: kindergarten,
Discuss the rationale for mixed methods : 1. Discuss the importance of the purpose statement in any research, and distinguish between the purpose statement and the problem statement in a research.
Find how much interest will be charged for month of december : Annual credit card interest rate is 18%, How much interest will be charged for the month of December, assuming the average daily balance method is used?
Identify stakeholder groups : Identifies a company that has recently (in this two year) recalled one of its products due to safety issues or defects.
What is the firm level of current liabilities : What is the firm's level of current liabilities? What is the firm's level of inventories? Do not round intermediate calculations.
Describe advantages of making good first impression : Describe the advantages of making a good first impression with your cooperating teacher/mentor, students, and school campus important?
How to reduce workplace stress : How to reduce workplace stress and boost employee well-being?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Make a journal entry for the transaction

December 31st Estimated summary of income with a credit balance of $ 1,570,000 is closed as well as dividends. Make a journal entry for the transaction

  What is purpose of an income statement for a retail business

The information on the statement will be used by investors, lenders, What is the purpose of an income statement for a retail business

  Strategic and operating plans and business risks

List the changes in your final sensitivity analysis, and explain why you chose this set of changes - briefly explain what Jordan would need to do to implement each of these changes.

  The direct method generally favored by analyst-true or false

The indirect method of reporting net cash flow from operations shows the operating cash receipts and cash payments. TRUE OR FALSE

  What is an industry risk factor

What is an industry risk factor? In litigating bankruptcies:

  Calculate the cash flow from operations for year

Perfect Office Products provided the following balance sheets and income statement: Calculate the cash flow from operations for Year 2

  Will john have enough money saved up to go and why

He called his travel agent and found out his trip is expected to cost $75,000 at the end of 2027. Will John have enough money saved up to go?

  Prepare all necessary journal entries on Chicago books

Prepare all necessary journal entries on Chicago's books in connection with its investment, beginning with purchase of the preferred stock on October 1, 2016

  Recognition of revenue for iru swaps for fiber optic assets

Describe why the recognition of revenue for IRU swaps for fiber optic assets that were not actually needed by Qwest was inappropriate under GAAP. Next, consult Paragraphs 7–8 of PCAOB Auditing Standard No. 15. As an auditor, what type of evidence wou..

  A company which makes up its financial statements annually

A company which makes up its financial statements annually to 31 December, provides for depreciation of its machinery at the rate of 12 per cent per annum using the reducing balance method.

  Calculate number of exemptions and the standard deduction

Calculate the number of exemptions and the standard deduction that the taxpayer is entitled to take in 2016 in each of the following independent cases: jackson is 28 and his wife joan is 27 . They have two children, one three years old and the other ..

  What is annual coupon payment bond holders expect to receive

What is the annual coupon payment bond holders expect to receive? Madoff Corporation raised money through a bond issue with a total principal value of $3,000,00

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd