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How is average daily balance calculated?
it is the sum of the daily balance divided by the number of days in the billing cycle
When are posting from the purchases journal to the subsidiary ledger made?
daily
What is the definition of current account?
A bank account that you use for daily purchases and other similar transactions. Not an account to use for saving.
What is average payment period?
Average Payment Period is the total opposite of the Average Collection Period. This is the average time taken by the company to pay off its credit purchases.Formula:APP = Accounts Payable / (Annual Credit Purchases / 365)
What is the formula to calculate net purchases?
1. Net purchases +? = cost of goods purchased 2. Net purchases = ? + ? = purchases
How is average daily balance calculated?
it is the sum of the daily balance divided by the number of days in the billing cycle
How is the average daily balance calculated?
it is the sum of the daily balance divided by the number of days in the billing cycle
What is the finance charge calculation method for Visa?
Visa uses the method they call "average daily balance (including new purchases)."
How do you calculate average payment period?
Creditors/credit purchase per dayOrAPP. The number of days a company takes to pay off credit purchases. It is calculated as accounts payable / (total annual purchases / 360).
When are posting from the purchases journal to the subsidiary ledger made?
daily
How calculate stock average daily volume?
A stock's average daily volume is calculated by adding the number of shares traded each day over a given period of time and divided by the number of days. For example, if the total volume over 30 days is 300, the average daily volume would be 10.
In a typical month a corporation receives 90 checks totaling 135000 these are delayed five days on average what is the average daily float?
The average daily float can be calculated by dividing the total float by the number of days delayed. In this case, the total float is $135,000 and the delay is 5 days, so the average daily float would be $27,000 ($135,000 / 5).
When a finance charge is calculated on the average daily balance when should consumers pay the bill to keep finance charges at a minimum?
Paying the bill as early in the payment period as possible will make the average daily balance lower and therefore minimize the finance charges.
Which method for calculating a credit card balance takes into account both the purchases and the payments made during the current billing cycle?
Average Daily Balance Method
What is the adjusted cost base?
Average of all purchases
What is the shape of this distribution?
A company is studying the number of daily debit card purchases. If there were 20 purchases and the probability of a debit card purchase is 0.5 What is the shape of this distribution
What are the average daily prices in California?
Average daily prices in what?
