Pay for steroids in full in order to avoid finance charges

Assignment Help Financial Accounting
Reference no: EM131289300

Paul's credit card closes on the 8th of the month, and his payment is due on the 26th. if paul purchases a stereo for 300 on June 16th, how many interest - free days will he have? when will he have to pay for the steroids in full in order to avoid finance charges? (hint assume that paul pays off his credit card every month.)

Reference no: EM131289300

Questions Cloud

Determine the amount of itemized deductions : B. J. and Carolyn Grace are full-time employees. B. J. is an elementary school teacher, and Carolyn is a registered nurse at a hospital. During the year, they incur the following employment-related expenses: School supplies for use in the classroom $..
Expenses and changes in net assets for the year ended : The following Statement of Cash Receipts and Disbursements was prepared by the bookkeeper of the City of Brookdale City Museum of Science. The museum is a component unit of the City of Glass City and must be included in the city’s financial statement..
Transactions in the capital projects fund in general journal : Please record the following transactions in the Capital Projects Fund in the general journal for the following transactions. Bradley County issued $6,300,000, 5% bonds with interest payable on a semiannual basis on July 1 and January 1. The bonds sol..
Special revenue fund or an enterprise fund : The garbage collection of the city of Rockwell could be accounted for through the General Fund, a Special Revenue Fund, or an Enterprise Fund. Please identify the circumstances in which each of these fund types might be appropriate.
Pay for steroids in full in order to avoid finance charges : Paul's credit card closes on the 8th of the month, and his payment is due on the 26th. if paul purchases a stereo for 300 on June 16th, how many interest - free days will he have? when will he have to pay for the steroids in full in order to avoid fi..
Record the preceding transactions in general journal form : During the fiscal year of June 2012, Claremont General Hospital, a not-for-profit healthcare organization, had the following revenue-related transactions. Record the preceding transactions in general journal form. Prepare the unrestricted revenues, g..
The market rate of interest for similar bonds : On September 30, 2016, the Maple Credit issued 8% stated rate bonds with a face amount of $420 million. The bonds mature on September 30, 2036 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 3..
Overhead allocation based solely on measure of volume : Overhead allocation based solely on a measure of volume such as direct labor-hours or number of students will systematically overcost high-volume products and undercost low-volume products. In other words, a course with higher enrollment will apprear..
Prepare journal entries to record write-off of receivables : Sally's Surf Company offers credit terms to its customers. At the end of 2016, accounts receivable totaled $680,000. The allowance method is used to account for uncollectible accounts. Prepare journal entries to record the write-off of receivables, t..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Cyber ware uses flexible budgets

Cyber ware uses flexible budgets that are based on the following data:

  Describe the variable overhead variances

Describe the variable overhead variances. How does a manager plan for these variances? Compare the variable overhead variance to the fixed overhead variance.

  Production department is currently utilizing is outdated

The Managerial Accounting Department at your company has been engaged by the Production Department for assistance in evaluating a purchase decision. The equipment the production department is currently utilizing is outdated and has become costly to m..

  Calculate the full cost per unit for each product

Calculate the full cost per unit for each product under traditional costing method, using direct labor hours as the basis for appointment.

  Adjusting entry for accrued and unpaid employee salaries

The correct adjusting entry for accrued and unpaid employee salaries of $9,200 on December 31. Debit Salary Expense, $9200; credit Prepaid Salary, $9200. Debit Salary Expense, $9200; credit Salaries Payable, $9200. Debit Salary Expense, $9200; credit..

  What are the direct labor costs for the period

Factory overhead costs for this period were 3 times as much as the direct material costs. Prime costs totaled $2,000. Conversion costs totaled $3,280. What are the direct labor costs for the period?

  Rule of works best with relatively low interest rates

The Rule of 72 works best with relatively low interest rates. Suppose the time it will take for an investment to double in value is 12 years. Find the interest rate. What is the approximate rate implied by the Rule of 72? Now suppose that the doublin..

  What is the expected return of investing in company b

Company A has a beta of 2.77. Company B has a beta of .73. Company C has a beta of .90. The risk free rate is 6% and the market risk premium is 4%. What is the expected return of investing in Company B?

  What are the journal entries for abc inc

What are the journal entries for ABC, Inc. on April 1, April 30, and May 31? Was the dollar strengthening or weakening over the period of the contract?

  Income tax assets and liablilities on financial statements

Why do financial standards require accountants to compute deferred income tax assets and liablilities on financial statements? answer in like 3 scentences.

  Product should be produced to maximize net operating income

Your Company makes three products in a single facility. How much of each product should be produced to maximize net operating income?

  Products sells a special kind of navigation equipment

Paragon Products sells a special kind of navigation equipment for $1,200. Variable costs are $900 per unit. When a special order arrived from a foreign contractor to buy 40 units at a reduced price of $1,000 per unit, there was a discussion among man..

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