Answer:Total Cost of equipment=$502,500
Explanation:
Total Cost of equipment= This is gotten by addition of Cost of Purchase +Shipping costs +Foundation work+ Testing expense
=$470,000+$14,100+$7,700+($7,000+$3,700.)
=$502,500
The average price for regular gasoline at U.S. pumps fell almost 4 cents in March to $2.50 a gallon. The price of crude oil dropped to $43.46 per barrel on March 17, the lowest since March 2009.
Answer: C. lower the cost of producing gasoline and increase the supply of gasoline
Explanation:
Gasoline is derived from the distillation of crude oil which means that Crude oil is the main raw material in the production of gasoline. This means that if crude oil sees a reduction in price, input costs for gasoline will decrease as well.
Producers of gasoline will take advantage of this to buy more crude oil and therefore process and make more gasoline which will increase the supply of gasoline in the market and reduce its price.
Were you surprised to learn how much companies focus on the teen market? Explain.
Answer:
Yes, a large percentage of consumers are influenced by people who are present on the internet, who are mostly younger people. In order to generate income, advertisements for young people are becoming less and less advertising look like.
For this reason, advertising pieces should always aim to entertain and inform, only to later sell. The experience with advertising content should be positive.
The teen audience may have many different tastes, but there is a high probability that everyone will use a cell phone. The device is part of the daily lives of young people and it is through it that teenagers communicate, consume content, and even shop.
Cornerstone Exercise 5-35 (Algorithmic) Notes Receivable Link Communications programs voicemail systems for businesses. For a recent project, they charged $135,000. The customer secured this amount by signing a note bearing 11% interest on February 1, 2019. Required: 1. Prepare the journal entry to record the sale on February 1, 2019. fill in the blank 8dca2303e075fa6_2 fill in the blank 8dca2303e075fa6_4 Record sale 2. Determine how much interest Link will receive if the note is repaid on December 1, 2019. Round your answer to the nearest whole dollar. $fill in the blank 0365ff0a4046fbb_1 3. Prepare Link's journal entry to record the cash received to pay off the note and interest on December 1, 2019. If an amount box does not require an entry, leave it blank. fill in the blank a9105402601503d_2 fill in the blank a9105402601503d_3 fill in the blank a9105402601503d_5 fill in the blank a9105402601503d_6 fill in the blank a9105402601503d_8 fill in the blank a9105402601503d_9 Record collection of note
Answer:
1) February 1, 2019, service revenue
Dr Notes receivable 135,000
Cr Service revenue 135,000
2) if the note is collected on December 1, 2019, the amount of interest revenue = $135,000 x 11% x 10/12 months = $12,375
3) December 1, 2019, note receivable and interest collected
Dr Cash 147,375
Cr Notes receivable 135,000
Cr Interest revenue 12,375
f the inverse demand function for toasters is p = 60 - Q , what is the consumer surplus if price (p) is $30?
Answer and Explanation:
A consumer surplus is the gain a consumer makes by paying less than he is willing to pay for a product. Example if a consumer is willing to pay $300 for a mobile phone but pay $200 for the phone, the consumer surplus is $100
Given that the demand function is P=60-Q
And price is 30
Therefore consumer surplus is, substitute 30 in p
30=60-Q
30-60=-Q
-30=-Q
Q=-30/-1
Q=30
Therefore consumer surplus = 30
what is supply chain management
Answer:
the management of the flow of goods and services, involves the movement and storage of raw materials, of work-in-process inventory, and of finished goods as well as end to end order fulfilment from point of origin to point of consumption
Explanation:
How much cash would Deere have to pay to repurchase the 6.55% debentures at the quoted market price of 108.104
Answer: $216.208 million
Explanation:
It should be noted that the bonds are being traded at a premium which ch is the quoted market price of 108.104.
Due to this, to retire the bonds, Deere would pay more than the carrying value. Therefore, the cash outflow would be calculated as:
= $200 million × 108.104%
= $200 million × 1.08104
= $216.208 million
This would lead to a loss of: ($216.208 million - $200 million = $16.208 million) in debentures repurchase.
The answer is $216.208 million
Southern Atlantic Distributors began operations in January 2021 and purchased a delivery truck for $40,000. Southern Atlantic plans to use straight-line depreciation over a four-year expected useful life for financial reporting purposes. For tax purposes, the deduction is 50% of cost in 2021, 30% in 2022, and 20% in 2023. Pretax accounting income for 2021 was $200,000, which includes interest revenue of $28,000 from municipal governmental bonds. The enacted tax rate is 25%. Assuming no differences between accounting income and taxable income other than those described above:
Answer:
1. Dr Income tax expense $43,000
Cr Deferred tax liability $2,500
Cr Income tax payable $40,500
2. $157,000
Explanation:
1. Preparation of the Journal entry to record income taxes in 2021
First step is to record income taxes in 2021
TAX RATE % TAX $ RECORDED AS
Pre-tax accounting income $200,000
Less Permanent difference ($28,000)
Income subject to Taxation
$172,000 ×25% $43,000 Income tax expense
Less Temporary difference
($10,000) ×25% - $2,500 Deferred tax liability
Income taxable in current year
$162,000 ×25% $40,500 Income tax payable
Calculation for Temporary difference
Depreciation in 2021 as per taxation=$40,000×50%
Depreciation in 2021 as per taxation=$20,000
Depreciation as per straight line=$40,000/4
Depreciation as per straight line=$10,000
Using this formula to calculate the Temporary difference
Temporary difference=Depreciation as per straight line-Depreciation in 2021 as per taxation
Let plug in the formula
Temporary difference=$20,000-$10,000
Temporary difference=$10,000
Preparation of Southern Atlantic Distributors JOURNAL ENTRY
Dr Income tax expense $43,000
Cr Deferred tax liability $2,500
Cr Income tax payable $40,500
(Being to record income tax expense)
2. Calculation for Southern Atlantic Distributors Net income
Income before income taxes $200,000
Less Income tax expense
Deferred tax liability ($2,500)
Income tax payable ($40,500)
Net income $157,000
($200,000-$2,500-$40,500)
Therefore 2021 Net income is $157,000
If a firm averages $2,000 in daily credit sales and offers 60-day terms, the average accounts receivable balance will be $120,000.
a. True
b. False
Answer:
a. True
Explanation:
The computation of the average accounts receivable balance is shown below:
= Daily credit sales × day terms
= $2,000 × 60 days terms
= $120,000
We simply multiplied the average amount with the day term so that the average account receivable balance could come
Hence, the given statement is true
Therefore the correct option is a.
By how much does GDP rise in each of the fol- lowing scenarios? Explain. (a) A computer company buys parts from a local distributor for $1 million, assembles the parts, and sells the resulting computers for $2 million. (b) A real estate agent sells a house for $200,000 that the previous owners had bought 10 years earlier for $100,000. The agent earns a commission of $6,000. (c) During a recession, the government raises unemployment benefits by $100 million. (d) A new U.S. airline purchases and imports $50 million worth of airplanes from the European company Airbus.
Answer:
a. GDP increases by $2 million. Only final good and services are included in GDP. the parts used in making the computer represents intermediate goods. Intermediate goods are not included in the calculation of GDP.
b. GDP would increase by $6000. Only goods produced in the current year are included in GDP. The house wasn't built in the current year so it would not be included in GDP. So, only the agent's fees would be included
c. 0 Transfer payments are not included in GDP
d.0. Imports would increases and net export would decrease. Also, business spending would increase. Taking these two effects together, there would be no change in GDP
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports imports
When exports exceed import there is a trade deficit and when import exceeds import, there is a trade surplus.
Items not included in the calculation off GDP includes:
services not rendered to oneself
Activities not reported to the government
illegal activities
sale or purchase of used products
sale or purchase of intermediate products
Ford Motor Company has issued 8% convertible debentures, convertible at a 25:1 ratio. Currently the debenture is trading at 110. The stock is trading at 38. What is the conversion price of the stock
Answer:
40
Explanation:
Calculation for the conversion price
Based on the information given we were told that the company's convertible ratio is 25:1 which simply means that 1,000 par will be divided by the covertible ratio .
Hence,
Conversion price of the stock = 1,000/25
Conversion price of the stock = 40
Therefore the Conversion price of the stock will be 40
Gold Corp. sells office furniture. In 2020, it sold 200 desks for $500 each. For each desk sold, Gold Corp. distributed a 50% discount coupon for purchase of an office chair valid for two months. Based on historical experience, Gold Corp. expects that approximately 20% of the coupons will be utilized. The chairs purchased with the coupons are priced at $150 and normally discounted 10%. What would be the stand-alone sales price used by Gold Corp. for the coupon when allocating the $500 transaction price to the performance obligations
Answer:
Gold Corp.
The stand-alone sales price is $135
Explanation:
a) Data and Calculations:
Selling price of desks = $500 per unit
Selling price of chairs = $150 per unit
Combined price of desks and chairs = $650
50% discount coupon on chairs = $75 (50% * $150)
Normal discount price of chairs = $135 ($150 * 90%)
Combined price of desks and discounted chair = $575 ($500 + $75)
Allocation of transaction price:
Desk = $575 * $500/$635 = $452.76
Chair = $575 * $135/$635 = $122.24
Total = $575
Which of the following is an expense that results from the usage of a natural resource? A. depletion B. obsolescence C. depreciation D. amortization
Answer:
A. depletion
Explanation:
Depletion is provided as an expense for usage of natural resources like mines, quarries and oil wells.
MATURITY RISK PREMIUM An investor in Treasury securities expects inflation to be 2.1% in Year 1, 2.7% in Year 2, and 3.65% each year thereafter. Assume that the real risk-free rate is 1.95% and that this rate will remain constant. Three-year Treasury securities yield 5.20%, while 5-year Treasury securities yield 6.00%. What is the difference in the maturity risk premiums (MRPs) on the two securities; that is, what is
Answer and Explanation:
Please find answer and explanation attached
So I’m 13. I have a small business, and 2 months ago my mom canceled my credit card. I get paid through credit card.Since she canceled my card, I don’t have where to get paid. How can i get a credit card without my mom knowing?
Answer:
so if you are a minor you have to have a parent or guardian sign off to get you a card, I had the same issue my mom refused to get me a card even tho i worked. I just got my dad to sign on it because then my mom couldnt do anything about it because her name wasnt in it. I hope this helps, and what type of business do you have.
The number of compounding periods in one year is called compounding frequency. The compounding frequency affects both the present and future values of cash flows. An investor can invest money with a particular bank and earn a stated interest rate of 4.40%; however, interest will be compounded quarterly. What are the nominal, periodic, and effective interest rates for this investment opportunity?
Interest Rates
Nominal rate 4.40%
Periodic rate 1.10%
Effective annual rate 4.47%
Rahul needs a loan and is speaking to several lending agencies about the interest rates they would charge and the terms they offer. He particularly likes his local bank because he is being offered a nominal rate of 4%. But the bank is compounding daily. What is the effective interest rate that Rahul would pay for the loan?
a. 4.081%
b. 4.202%
c. 3.959%
d. 4.395%
Another bank is also offering favorable terms, so Rahul decides to take a loan of $22,000 from this bank. He signs the loan contract at 9% compounded daily for nine months. Based on a 365-day year, what is the total amount that Rahul owes the bank at the end of the loan's term? (Hint: To calculate the number of days, divide the number of months by 12 and multiply by 365.)
a. $24,477.81
b. $24,948.54
c. $23,536.36
d. $24,007.09
Answer:
1. a. 4.081%
2. c. $23,536.36
Explanation:
1. Periodic rate=(4.4%/4) = 1.1%
EAR=(1+APR/m)^m-1
where m=compounding periods
= (1+0.044/4)^4-1
= 1.011^4 - 1
= 1.04473133864 - 1
= 0.04473133864
= 4.47%
EAR=(1+APR/m)^m-1
where m=compounding periods
=(1+0.04/365)^365-1
= (1+0.00010958904)^365 - 1
= 1.00010958904^365 - 1
= 1.04080849272 - 1
= 0.04080849272
= 4.081%
2. A=P(1+r/365)^365*n
where A=future value, P=present value, r=rate of interest, n=time period.
= 22000*(1+9%/365)^(9/12*365)
= $23,536.36
At the beginning of 2015, Elixir Inc. has the following ledger balances:During the year, credit sales amounted to $800,000. Cash collected on credit sales amounted to $760,000 and $18,000 has been written off. At the end of the year, company adjusted for bad debts expense using the percent-of-sales method and applied a rate, based on past history, of 2.5%. The ending balance in the Allowance for Bad Debts would be ________. Prepare all necessary journal entries.
Answer:
$$7,000
Explanation:
Calculation for the ending balance in the Allowance for Bad Debts
Using this formula
Allowance for Bad Debts Ending balance =
Debts - Write offs + Bad Debt Expense
Let plug in the formula
Allowance for Bad Debts Ending balance= $5,000 - $18,000 + (2.5%*$800,000)
Allowance for Bad Debts Ending balance= $5,000 - $18,000 + $20,000
Allowance for Bad Debts Ending balance = $$7,000
Therefore the ending balance in the Allowance for Bad Debts would be $7,000
4. Sectoral shifts, frictional unemployment, and job searches Suppose the world price of steel falls substantially. The demand for labor among steel-producing firms in Pennsylvania will . The demand for labor among automobile-producing firms in Michigan, for which steel is an input, will . The temporary unemployment resulting from such sectoral shifts in the economy is best described as unemployment. Suppose the government wants to reduce this type of unemployment. Which of the following policies would help achieve this goal? Check all that apply. Improving a widely used job-search website so that it matches workers to job vacancies more effectively Establishing government-run employment agencies to connect unemployed workers to job vacancies Increasing the benefits offered to unemployed workers through the government's unemployment insurance program
Answer:
decrease
increase
structural unemployment
Improving a widely used job-search website so that it matches workers to job vacancies more effectively
Establishing government-run employment agencies to connect unemployed workers to job vacancies
Explanation:
If the world price of steel falls, the profits that can be earned from producing steel would fall. This would make steel-producing firms cutback on production. If they do this, they would lead less labour, so the demand for labour would fall.
The decrease in the price of steel would make purchasing steel by automobile companies cheaper. This would lead to a rise in production and as a result an increase in the demand for labour.
Structural unemployment occurs when there is a mismatch between the skills of labour and the jobs available. Measures taken to increase information on available jobs would reduce this type of unemployment
Which of the following statements about the composition of the labor
force is correct?
Answer:
since 1948, the percentage of women participating in the labor force has increased
Explanation:
Labor force is the percentage of the adult civilian non-institutional population that is working or actively seeking work. Labor force excludes retired workers. From around 1948, the number of female workers in labor force increased significantly.
According to government statistics, in 1950, women’s labor force participation rate was at 33.9 percent. It increased significantly during the 1970s and 1980s, reaching 57.5 percent in 1990. In 1999, the women’s participation rate was at the peak of 60 percent.
We typically hear of the gains from trade coming through specialization wherein each nation produces more of and exports that good which it produces at relatively less cost, and produces less of and imports that good which it produces at relatively higher cost. Indeed, classical trade theory is based on the benefits from such specialization in production. But, what if the nation cannot move any resources from the production of one good to the production of other and therefore cannot specialize in production
Answer:
Generally theoretical models work only in theory. E.g. perfect competition models exist in theory but no market is really a perfect competition market.
The Ricardian model or the H-O model, or other trade models make the mistake of assuming that resources can be allocated at will and almost immediately, e.g. a fisherman can immediately become an engineer and start developing apps. Or a farmer that produces corn or rye (very popular examples) can suddenly start working at a factory producing bluejeans.
In real life, it doesn't happen. Also, trade models never consider natural trade barriers and extra costs related to trade. E.g. it is not the same to sell $10,000 worth of corn (you need a very large truck) than selling $10,000 worth of jeans (all you need is a small delivery van). In real life, trade is not simple, it is actually extremely complicated.
E.g. everyone knows that manufacturing goods in America is not efficient, at best companies can be less inefficient, but no manufacturing company in America is really efficient if we compare them to foreign companies. Even people who work in manufacturing industries know this, but they want to continue working in them. They want the companies to keep producing in America and they want to keep their jobs. Not everyone in America has a college degree in computer programming, finances, is able to design robots, or is a doctor, etc.
In real life, efficient industries have to exist alongside inefficient industries, and the whole economy suffers from it. But it is unavoidable. In the long run, the economy will eventually shift resources to more efficient industries, but it takes a long time, and a lot of people and companies will be against it. E.g. every year there are less shoe manufacturers in America, and eventually sometime in the future there will be none.
Which of these is an acceptable less hazardous method of cleaning than solvents?
A. Using disposable wipes B. Using a dishwasher C. Using a water hose D. Mechanical cleaning
Answer:
D
Explanation:
An Acceptable and less hazardous method of cleaning than the use of chemical solvents is D. Mechanical cleaning.
Mechanical cleaning involves the use of sandpaper, abrasives, or other cleaning devices. This implies that large quantities of chemical solvents are not used.
Disposable wipes contain chemical solvents. Sometimes, the wipes are littered or improperly disposed of, thereby contaminating the environment.
Dishwashers use chemical solvents. Otherwise, they are just electro-mechanical devices for washing food dishes and other utensils.
A water hose used for cleaning must combine some chemical solvents to achieve cleaning effects.
Thus, the only solvent-free and less hazardous method of cleaning is Mechanical Cleaning.
Learn more about mechanical cleaning here: https://brainly.ph/question/8504944
Which of the following is included in the calculation of GDP? a. The purchase of tutoring services from a tutor who holds citizenship outside the country but resides within the country. b. The purchase of a new edition of a foreign textbook that was produced in a different nation. c. The purchase of ink and paper supplies by a textbook company for the production of new textbooks. d. The purchase of a used textbook from a friend who took the same class last year.
Answer:
a. The purchase of tutoring services from a tutor who holds citizenship outside the country but resides within the country
Explanation:
Gross domestic product knowns as GDP provide the total market value of all produced goods/service in a country within particular period of time. It allows to know the Economic growth rate of a particular country.
GDP can be analysed an calculated using three most common ways ;it can be through
1)expenditures
2)production
3) incomes.
It can be calculated by by the summation of all money spent by government or consumer at a particular period of time. Hence nominal GDP is the value.It gives measures on production. It should be noted that The purchase of tutoring services from a tutor who holds citizenship outside the country but resides within the country is included in the calculation of GDP.
Mr. C made the following gifts: $12,000 to a university to pay tuition costs for his niece. An undeveloped tract of land to his sister that had an adjusted basis to Mr. C of $4,000 and a fair market value of $25,000. Various shares of stock to his wife that had an adjusted basis to Mr. C of $15,000 and a fair market value of $40,000. Mr. C did not consent to gift-splitting. What is the total amount of taxable gifts
Answer:
$10,000
Explanation:
Gifts are only taxed when their fair market value is higher than $15,000. Any gifts made to your spouse are not taxable. Gift taxes are calculated on a per person base, as long as they do not exceed the lifetime exemption (which is $11.58 million).
The tuition costs of her niece are not taxable since they are less than $12,000. The stocks given to his wife are not taxable either. The only taxable gift is the land given to his sister which had a FMV of $25,000. The taxable amount = $25,000 - $15,000 = $10,000
Nash Company reported 2020 net income of $152,900. During 2020, accounts receivable increased by $17,160 and accounts payable increased by $9,582. Depreciation expense was $48,000. Prepare the cash flows from operating activities section of the statement of cash flows. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) NASH COMPANY Cash Flow Statement choose the accounting period select an opening section name select an item $enter a dollar amount Adjustments to reconcile net income to select a subsection name select an item $enter a dollar amount select an item enter a dollar amount select an item enter a dollar amount enter a subtotal of the adjustments select a closing section name $enter a total amount for the section
Answer:
$112,478
Explanation:
Cash flows from operating activities
Net income $152,900
Adjustments to reconcile net income
Depreciation expense $48,000
Increase in accounts payable $9,582
Increase in accounts receivable $ (17,160) $40,422
Net cash provided by operating activities $112,478
1. At December 1, 2022, Swifty Corporation Accounts Receivable balance was $12770. During December, Swifty had credit sales of $34200 and collected accounts receivable of $27360. At December 31, 2022, the Accounts Receivable balance is:_______.
a. $19610 credit.
b. $1 debit.
c. $46970 debit.
d. $19610 debit.
2. On July 7, 2017, Sheffield Corp. received cash $1480 for services rendered. The entry to record this transaction will include:_____.
Answer:
1.
d. $19610 debit
Option D is the correct answer.
2.
Cash 1480 Debit
Service Revenue 1480 Credit
Explanation:
1.
The balance in the accounts receivable account can be calculated as follows,
Closing Balance = Opening balance + Credit sales - Cash Received from Accounts Receivable
Closing Balance of Accounts receivable at 31 December 2022 will be,
Closing Balance = 12770 + 34200 - 27360
Closing Balance = $19610 debit
The balance is debit because accounts receivables is an asset and the normal balance for asset account is debit.
2.
The entry to record the transaction is made in the answer part.
An upward-sloping labor supply curve implies that A) a firm can always hire more workers, even without increasing the wage. B) more workers are willing work when wages are low. C) more workers are willing to work as the market wage increases. D) the labor supply is fixed. E) there is a continuously increasing demand for labor.
Answer:
C) more workers are willing to work as the market wage increases.
Explanation:
As we see in the question that there is an increase in upward sloping of labor supply curve that means more and more workers are ready or willing to work in that case where the wages of the market increased
Therefore according to the options, the option C is correct as it mets the current situation and the same is to be considered
Hence, all other options are incorrect
Assume that a Parent owns 80 percent of a Subsidiary that has 6 percent preferred stock outstanding with a reported par value of $720,000. Aside from the preferred dividends, no other dividends are paid (i.e., no dividends are paid to the common shareholders). The Parent owns none of the preferred stock. Assume that the Subsidiary reports net income of $117,000. During the year, the Parent company reported $261,000 of (pre-consolidation) income from its own operations (i.e., prior to any equity method adjustments by the Parent company). Compute the amount of consolidated net income attributable to the noncontrolling interest and the amount of net income attributable to the controlling interest.
Answer:
Consolidated net income attributable to the noncontrolling interest $14,760
Consolidated net income attributable to the controlling interest $320,040
Explanation:
Computation of the amount of consolidated net income attributable to the noncontrolling interest and the amount of net income attributable to the controlling interest.
CONSOLIDATED NET INCOME attributable to the noncontrolling interest
First step is to find the Divide amount
Dividend =6% x $720,000
Dividend= $43,200
Second Step is to find the Net Income from Subsidiary
Net Income from Subsidiary= $117,000-$43,200
Net Income from Subsidiary=$73,800
Last step is to calculate consolidated net income attributable to the noncontrolling interest
Noncontrolling interest =$73,800 x 20%
Noncontrolling interest = $14,760
NET INCOME attributable to the controlling interest
First step is to find the controlling interest amount
Controlling interest=80% x $73,800
Controlling interest= $59,040
Last step is to find the Parent company income
Parent company income= $261,000 + $59,040
Parent company income= $320,040
Therefore Consolidated net income attributable to the noncontrolling interest is $14,760 while the Consolidated net income attributable to the controlling interest is $320,040
Portfolio Beta is the ______________ average of the Betas of the investments included in the portfolio.
Answer:
Weighted
Explanation:
Beta can be defined as a measure of the volatilities of a specific portfolio such as stocks.
Portfolio Beta is the weighted average of the Betas of the investments included in the portfolio.
Suppose you won a $77,000 after-tax cash prize in the lottery. You want to start a new business that you think will lose money for a while, after which it will be up and running and bringing in big bucks. You plan to invest the funds immediately in securities that are expected to earn 8% per year. Suppose you would need only $19,000 per year during the start-up period. How long could you operate before you would require cash from the new business, i.e., how long could you receive payments of $19,000 per year? The first withdrawal will be made a year from today, and your answer will contain a fraction of a year.
Answer:
The right solution is "5.09 years".
Explanation:
The given values are:
Lottery amount
= $77,000
Withdrawal
= $19,000
Rate
= 8%
The number of withdrawal will be:
⇒ [tex]NPER(Rate,-withdrawal,lottery \ amount)[/tex]
On putting the values, we get
⇒ [tex]NPER(8 \ percent,-19000,77000)[/tex]
⇒ [tex]5.09 \ years[/tex]
Freeze Corporation uses the lower of cost or net realizable value method to write down inventory. Freeze determines that the inventory should be written down by $1,000. The effect on the financial statements is to ______.
Answer:
The journal entry to record the write down is:
Dr Cost of goods sold 1,000
Cr Inventory 1,000
Since cost of goods sold increases, then net income (income statement) will decrease. A decrease in net income will also result in lower retained earnings (balance sheet).
The previous statement for your credit card had a balance of $690. You make a payment of $260 but you make additional purchases of $170. The card carries an APR of 24%. What is the finance charge for this month
Answer:
744 hope this helps
Explanation:
