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Aaron had an unpaid balance of 1177.79 on his credit card statement at the beginning of April He made a payment of 430.00 during the month and made purchases of 366.02 If the interest rate on A?
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∙ 12y ago
aaron had an unpaid balance of 1177.79 on his credit card statement at the befinning of April he made a payment of 430 during the month and made purcahses of 36.02 if the interest rate on arron credit card was 4.5% per monthon the unpaid balance find his finance charge and the new balance on may 1
Wiki User
∙ 12y ago
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The office supplies account showed a beginning debit balance of P6000 and purchases of P10000.The ending debit balance was P4000.?
Office supplies beginning balance 6000Add: Purchases 10000Total 16000Less:closing balance 4000Supplies expense for current period 12000
What is a monthly billing statement?
A monthly billing statement - is the notification sent out by the credit card company, detailing the most recent transactions on the account. It shows any payments made since the last statement, any new purchases and the amount of interest charged on the current balance. It is NOT a demand to pay the whole balance - but an advisory on the minimum payment that must be paid this month.
Is the overall change in cash calculated on the statement of cash flows always the same as the beginning cash balance on the balance sheet?
the difference between the beginning and the ending cash balance on balance sheet
Is debenture interest paid shown in balance sheet?
if Debenture interest is paid already then it will only show in income statement while if debenture interest is payable in future then it will only comes balance sheet, while if part of interest paid and part of interest payable then portion of paid amount will be shown in income statement while remaining amount will be shown in balance sheet as liability
When preparing a retained earnings statement the beginning retained earnings balance can always be found?
in journal
Where does interest go on balance sheet?
Interest is part of income statement and shown in income statement and not part of balance sheet.
The office supplies account showed a beginning debit balance of P6000 and purchases of P10000.The ending debit balance was P4000.?
Office supplies beginning balance 6000Add: Purchases 10000Total 16000Less:closing balance 4000Supplies expense for current period 12000
Is purchases a balance sheet item?
No, purchases are not typically shown as a balance sheet item. Purchases represent the cost of goods or services acquired by a business, and they are typically reported on the income statement as an expense. The balance sheet primarily includes assets, liabilities, and shareholders' equity.
Do purchases go on an income statement?
No, purchases do not go on an income statement. The income statement only includes revenues and expenses directly related to the operation of the business. Purchases are recorded on the balance sheet as an increase in inventory or as an expense when the inventory is sold.
What is a monthly billing statement?
A monthly billing statement - is the notification sent out by the credit card company, detailing the most recent transactions on the account. It shows any payments made since the last statement, any new purchases and the amount of interest charged on the current balance. It is NOT a demand to pay the whole balance - but an advisory on the minimum payment that must be paid this month.
What is the formula used to calculate 8.5 percent interest on a credit card with a balance of five hundred dollars?
Credit card companies use several methods to calculate interest. There can be one or two billing cycles per month. Interest can be charged on the daily balance, new purchases, etc. You should refer to the "How finance charges are calculated" section of you billing statement.
Is the overall change in cash calculated on the statement of cash flows always the same as the beginning cash balance on the balance sheet?
the difference between the beginning and the ending cash balance on balance sheet
Is interest on fixed deposit located on income statement or balance sheet?
both.. balance sheet under liquid asset..income statement under inflow/income..
Is debenture interest paid shown in balance sheet?
if Debenture interest is paid already then it will only show in income statement while if debenture interest is payable in future then it will only comes balance sheet, while if part of interest paid and part of interest payable then portion of paid amount will be shown in income statement while remaining amount will be shown in balance sheet as liability
How does the post trial balance differ from the adjusted trial balance?
Post is used at the beginning of the month where trial balance is the balance of your financial statement at the end of the month.
Listed below are the actions one would take when reconciling a bank statement. Drag each action into the order in which it is performed?
Match the closing balance on the previous statement with the beginning balance on the current statement. Record the closing balance from the current statement on the reconciliation worksheet on the back of the current statement. Match the deposit receipts with those on the bank statement. Place all returned checks in numerical order. Compare the amounts of the checks with the amounts on the current bank statement. List all outstanding checks separately on the reconciliation worksheet. Add any interest earned as well as service charges. Compare the checkbook balance with the bank statement balance. If the two do not agree, check your work and then call the bank.
Where did loan interest payable go in the income statement?
Loan interest payable is not shown in income statement rather it is shown in liability side of balance sheet in current liability section.
