Find the average daily balance

Assignment Help Financial Accounting
Reference no: EM132932030

Problem1 : A credit card bill for $655 was due on April 14. Purchases of $152.56 were made on April 19. The amount $24.45 was charged on April 21 and $207.36 was charged on April 28. A payment of $500 was made on April 25. Find the average daily balance (in dollars) if the next due date is May 14. (Round your answer to the nearest cent.)

Reference no: EM132932030

Questions Cloud

Find amount of cash generated from financial activities was : In 2020, the amount of cash generated from financial activities was? ABC did not issue any new common shares nor did it buy back any of its outstanding shares.
Quantitative and qualitative research : You will review both quantitative and qualitative research. The topic is up to you as long as you choose a peer-reviewed, academic research piece
Which types of loans would allow to obtain cash : A firm is experiencing cash flow difficulties. Which of the following types of loans would allow it to obtain cash in the easiest manner?
How many days should the company allow on average : Assume that 1 year = 360 days. Using the EOQ model, how many days should the Company allow on average, between orders?
Find the average daily balance : Find the average daily balance (in dollars) if the next due date is May 14. The amount $24.45 was charged on April 21 and $207.36 was charged on April 28.
Private health care organization : You are a security professional for a large, private health care organization.
What total inventory cost including the cost to purchase : What total inventory cost including the cost to purchase inventory at the EOQ is? Good Fit Inc, a spot goods chain store, sells an average of 1,000 bicycles
Dominance impacts IT activities : The balance between IT dominance and user dominance impacts IT activities. How do you think this balance is maintained?
What would be the amounts related to the lease : What would be the amounts related to the lease that the lessor would report in its income statement for the year ended December 31 (ignore taxes)?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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