User Account

All Pages

Find the average daily balance

Assignment Help Financial Accounting
Reference no: EM132820778

Question - A master card account for one billing period is given below January 30 - Payment - 700.00 February 3 - cars - 378.00

February 17 - notebooks - 640.00

If the billing cycle is January 25 through February 24 (there are 31 days in January), and there was a previous balance of $750, and the annual interest rate is 12% find the following and explain

1) the average daily balance

2) the finance charge

Reference no: EM132820778

Questions Cloud

What annual rate of return must you make : You currently have $186,000 in an interest-earning account, What annual rate of return must you make on this account to meet your objective
The indoor sporting goods market : What are the implications for the penetration into the indoor sporting goods market?
Cost-benefit analysis in hrm activities : Hospitals and other healthcare organizations strive hard to provide comprehensive benefits packages to attract and retain workers at all stages of their careers
Make the journal entries to record income taxes : Whispering Winds Corporation purchased equipment very late in 2020. Prepare the journal entries to record income taxes for 2021 and 2022.
Find the average daily balance : If the billing cycle is January 25 through February 24 (there are 31 days in January), and there was a previous balance of $750, find the average daily balance
Analyze the authors life-span classification : When did you become an adult? Was it the day you graduated from high school? Or, was it the day you moved out of your parents' or caregivers' home?
Summarize three basic legal issues involved in layoffs : Summarize three basic legal issues involved in layoffs. Distinguish between involuntary and voluntary turnover.
Explain the biological aspects of middle adulthood : A health crisis can occur at any phase in an individual's life span. General health concerns, however, tend to increase with age.
Tertiary prevention strategies : Select a health problem or condition and identify related primary, secondary, and tertiary prevention strategies.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Determine how much will accountant have upon retirement

Determine How much will this accountant have upon retirement, if the accountant is able to earn 4% annually on this investment?

  Determine the amount of the impairment loss

determine the amount of the impairment loss to be recognized by Maynilad Bank, and give the entry in the books of the company to record the impairment.

  How would the budget process for the service company differ

How would the budget process for the service company differ from a manufacturing company? Describe the process for creating a service company

  How could prevent future instances of fraud from occurring

How could you prevent future instances of fraud from occurring? Also as an Investor, explain if you agree or disagree with Professor's Black comments?

  What assumptions is the financial reporting model based on

What assumptions is the financial reporting model based on? What principles support the financial reporting model? What is the role of Congress in settling the concerns that arise with accounting firms and their clients?

  Prepare the journal entries for all the related transaction

Prepare the journal entries for all the  related transaction.

  The following data are available for sellco for the fiscal

the following data are available for sellco for the fiscal year ended on january 31 2011sales . . . . . . . . . . . . .

  Average cost method to the FIFO cost method

The Cecil-Booker Vending Company changed its method of valuing inventory from the average cost method to the FIFO cost method at the beginning of 2013. At December 31, 2012, inventories were $112,000 (average cost basis) and were $116,000 a year earl..

  Determine the internal rate of return

With a cost of capital of 18 percent, should the machine be purchased? Determine the internal rate of return. Home Security Systems is analyzing the purchase

  Prepare the general journal entries in the books of zorba

Prepare the general journal entries (as per template below) in the books of Zorba Ltd to record the above transactions. Provide narrations for all your entries

  Account titles and explanation debit credit

The cash account of Aguilar Co. showed a ledger balance of $5,528.99 on June 30, 2014. The bank statement as of that date showed a balance of $5,810.00. Upon comparing the statement with the cash records, the following facts were determined. Account ..

  How much money did Party City receive

Party City Costumes borrowed money from their bank Third Friendly International Bank by issuing a $100,000, How much money did Party City receive

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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