You are offered two credit cards. The first is a credit card (CARD A) that has an APR of 24.99%. You are also offered a card (CARD B) that has 21.99% interest, but charges $100 annually. Which card that was offered is a better card? Show work.
Q: Homework Question no. 1:- Ahmed Co incurred the following transactions during the month of December…
A: Ending inventory is the amount of inventory a company has in stock at the end of its fiscal year. It…
Q: Country Timber Manufacturing (CTM) installed equipment in its factory at a cost of $350,000 on July…
A: Unit of Production Depreciation method: Depreciation under this method is calculated by dividing…
Q: On March 1, 2022 a company paid $30,000 in advance for a one-year insurance policy. What adjusting…
A: Adjusting entry is prepared in accordance with the matching principle for amount related only to the…
Q: The following events occurred last year at Dorder Corporation: Purchase of plant and equipment Sale…
A: The statement of cash flow is a part of the financial statement, its shows the cash sources of the…
Q: On January 31, Clark Company's cash balance per its general ledger is $4,280. The bank's cash…
A: Bank reconciliation statement is a statement which reconcile the bank balance of cash book and bank…
Q: Job 5 was started in May and the following cost were assigned to it in May direct materials $…
A: The data pertaining to Job 5, 6 and 7 are given to us. Overheads are applied to the jobs usually…
Q: Prime cost consists of: Select one: O A. Direct labour O B. Direct materials and direct labour C.…
A: Factory overheads is the amount of indirect expenses which are not directly identifiable to the…
Q: What would Symphony report as total assets?
A: Notes: Total Assets = Fixed assets + Current assets
Q: Taxpayer's filing status is single, and he takes the standard deduction. For the year, Taxpayer…
A: INTRODUCTION: Gross income is the entire money made by an individual on a paycheck before taxes and…
Q: Consider the following information: Contribution to Sales (C/S) Ratio = 25% Selling…
A: Lets understand the basics. Variable cost per unit is also known as marginal cost per unit. It is a…
Q: August 9. Purchased merchandise on account from Book Wholesalers, $1,950.00. Purcha Invoice No. 132.…
A: The general journal shows the debit balance and credit balance of each item of the company. It…
Q: The company was registered as a stock corporation and the capital bution of the stockholders were as…
A: Management - Management (or managing) is the process of overseeing the operations of a company,…
Q: aventure Manufacturing expects to earn P210,000 next year after taxes. Sales will be P4million. The…
A: Answer : Number of unit sold = Sales / Sale price per unit Number of unit sold = P4,000,000 / 200 =…
Q: The December 31, 2021, post-closing trial balance for Chile Corporation is presented below: Accounts…
A: The balance sheet is the most important part of the financial statement. Another name for a balance…
Q: We need to forecast 2019 using the modified percentage of sales method to prepare for a management…
A:
Q: The Future value of a Present amount of money (compounded annually) after 1 year can be determined…
A: Present value is value of money in the current period. Future value is the compounded value…
Q: Harpo Ltd - Statement of Financial Position as at 31 December 2017 2016 £'000 £'000 £'000 £'000…
A: Statement of Cash Flow - Statement of Cash includes inflow and outflow of cash during the financial…
Q: Sales
A: Computation of cash flow and relevant notes/entries is essential to get a clear picture of your…
Q: 4. Beeman Company exchanged machinery with an appraised value of $4,680,000, cost of $7,200,000 and…
A: A journal is a company's official book in which all business transactions are recorded in…
Q: A company sold bonds on January 1, 2021, for $207,913. This price represents a market rate of 9% on…
A: Bonds sold at premium: When the bonds are sold at a price more than its face value then the excess…
Q: Ted Lozano is a cost accountant for Company C. Fred Lopez, Vice President of Marketing, has asked…
A: An accountant, whether managerial, financial or cost accountant, should maintain certain ethics in…
Q: In January 2022, Rover Mining Corporation purchased a mineral mine for P4,200,000 with removable ore…
A: Depletion expense is the cost that is charged against the profits for the use of natural resources.…
Q: Assume that Merryland’s Markets had an inventory balance of $32 570 at the close of the last…
A: Perpetual Inventory System A perpetual system, as opposed to a physical count, is a programme that…
Q: Calculate the cost of goods sold dollar value for A66 Company for the month, considering the…
A: Notes : Under LIFO system the units purchased last will be issued first.
Q: helle Smith is planning on taking her family to Disney World in three (3) years’ time. She plans on…
A: Comment; We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: What amount should be recorded as the cost of new machine? P 1,940,000 P 1,980,000 P 2,070,000 P…
A: Machine is considered as one of the fixed or non-current assets of the company. Fixed assets of the…
Q: Lansing Company’s current-year income statement and selected balance sheet data at December 31 of…
A: The cash flow statement is the one prepareed to determine the cash movement form and the company to…
Q: On January 1, 2022, Rover, Inc. purchased a patent giving it exclusive rights to manufacture a new…
A: Amortization expenses of patent: Amortization expenses per year = (P240,000 / 8 years) = P30,000
Q: On January 1, 2021, Stoops Entertainment purchases a building for $500,000, paying $100,000 down and…
A: INTRODUCTION: When you borrow money, whether, from an individual, another firm, or a bank, you must…
Q: Lemur Corp. is going to pay three employees a year-end bonus. The amount of the year-end bonus and…
A: Tax liability is the total amount of tax debt owed to government by an individual, corporation or…
Q: A utility vehicle purchased by Knox industries should last 110,000 miles .  the accusation cost…
A: Unit of production depreciation method: Depreciation is calculated by dividing total acquisition…
Q: variabl
A: Answer :Option d. Contribution margin ratio is equals total fixed costs is correct answer. Break…
Q: In its first year of operations, Cloudbox has credit sales of $200,000. Its year-end balance in…
A: An adjusting entry is a simple modification to your books that improves the alignment of your…
Q: Matt plans to start his own business once he graduates from college. He plans to save $1,400 every…
A: Future value annuity The future value of an annuity is the value of a group of installments at a…
Q: TIONS. 1. What is the meaning of cost accounting? Write any FIVE objectives of cost accounting 2.…
A: Introduction:- Cost Accounting is a process of identification, classification, measurement, and…
Q: Waylander Coatings Company purchased waterproofing equipment on January 6 for $451,200. The…
A: Depreciation expense is the regular wear and tear charged on the fixed assets. It is shown in the…
Q: How is depreciation calculated? Is depreciation a fixed cost?
A: Depreciation is the process of subtracting the whole cost of an expensive item purchased for your…
Q: During the current year, merchandise is sold for $56,600 cash and for $87,400 on account. The cost…
A: Gross profit: Difference between the sales and the cost of goods sold is called gross profit. Gross…
Q: depreciated
A: A fully depreciated asset is actually an accounting term used to specify an asset that’s worth its…
Q: Explain four (4) matters that the Office of the Auditor General should consider in deciding the…
A: In certain circumstances, the auditor conducting the audit work may have to use the work of other…
Q: A family friend has asked your help in analyzing the operations of three anonymous companies…
A: ROI means return on investment. It is the amount or percentage of return earned by an entity on the…
Q: Garden Yeti manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at…
A: The direct materials budget, which breaks down the resources that must be gathered over the course…
Q: What the agi
A: AGI means Adjusted Gross Income. It is the total income on which income tax payable would be…
Q: Engr. Yakuzo started his own engineering firm to acquire different construction project. There is an…
A: The total cost can be fixed or variable. Fixed costs are those that do not vary with production…
Q: HOW DO YOU GET THE REMAING TOTAL BALANCE OF INVENTORY COST?
A: The question deals with inventory valuation at LIFO method. LIFO means Last in First out. In this…
Q: California Orchards reports the following sales data for the year ended December 31. Grade of…
A: In case there are joint costs than they are allocated on the some basis that may be volume of sales…
Q: You will perform the following: (1) Select an accounting principle and explain how it can be applied…
A: Kate operates a minimart located in a private estate. She has invested her own funds, even borrowed…
Q: A typical control decision would be best characterised as: Select one: O A. Predicting the cost of…
A: Control means exercise of power on certain things or persons to affect them to prevent from…
Q: Using the lower of cost or market, what should the total inventory value be for the following items:…
A: Note: Under the Lower of Cost or Market method, inventory is valued at the lower the cost of the…
Q: General Investment Co. (GIC) purchased bonds on January 1, 2021. GIC's accountant has projected the…
A: Answer:- Bond meaning:- Bonds basically allow an organization to raise money and meet the…
COMPARING APR. You are offered two credit cards. The first is a credit
card (CARD A) that has an APR of 24.99%. You are also offered a card
(CARD B) that has 21.99% interest, but charges $100 annually. Which card
that was offered is a better card? Show work.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
- 1. You are trying to decide between 2 credit cards. Credit card A has no annual fee and an annual interest rate of 22.99%. Credit card B has an annual fee of $135 and an annual interest rate of 18.99%. What is the annual cost on a $2300.00 purchase? Card A Card B Which card would you choose? Explain. SA 2a. You decide to purchase a new touchscreen Chromebook. The price is listed at $499.99 but the salesperson tells you that everything in the store is 25% off today. What is the total price that you pay for the Chromebook (including 8% Tax)?You currently have a credit card with a balance of $450. If you have a credit limit of $2,000, what is your credit utilization rate?Round to the nearest percent.You have a credit card with an APR of 24.99 %, monthly compounding, that has a balance of $6,600. You want to transfer this balance to a different card with an APR of 8.99%, monthly compounding. Assuming that you will make minimum payments of $ 160 per month for either card, what transfer fee would make you ambivalent between transferring or not?
- Match the following credit terms with the correct description. APR [Choose ] [Choose ] Known as the Annual Percentage Rate. Some credit cards charge these. They can be charged for membership and you may be required to pay them once a year. Credit cards that offer these give you cash or points for purchases you make. Occurs when you don't pay your monthly payment on time. These occur when you transfer your balance to a different card. When you move an existing balance to another credit card or account. The least amount of money you are obligated to pay back on a monthly basis to avoid fees and penalties. [Choose ] [Choose ] [Choose ] [Choose ] Fees Rewards Finance Charges Late fees Balance Transfer Minimum payment2. You owe $2,000 on a credit card that charges 20% interest. You have $2,200 in your savings account that earns 1.69% interest. Your savings account charges $14.50 a month if you keep a balance of less than $1,500 a month. Compare the amount of interest for both to decide what you should do about paying the credit card bill. Consider all factors in the decision. Show your for any calculations you may completed. In a brief paragraph, justify your decision, including a description of all factors that would affect that decision.No Plagirism Please! Note: Enter your answer and show all the steps that you use to solve this problem in the space provided You have a credit card with a balance of $1,367 90 at a 95% APR. You pay $400.00 each month on the due date until the card is paid off. How many months does it take to pay off the card, and what is the total amount paid including interest? Be sure to include in your response the answer to the original question the mathematical steps for solving the problem demonstrating mathematical reasoning
- n s ucation ker 1. You are trying to decide between 2 credit cards. Credit card A has no annual fee and an annual interest rate of 22.99%. Credit card B has an annual fee of $135 and an annual interest rate of 18.99%. What is the annual cost on a $2300.00 purchase? Card A Card B Which card would you choose? Explain. M 2a. You decide to purchase a new touchscreen Chromebook. The price is listed at $499.99 but the salesperson tells you that everything in the store is 25% off today. What is the total price that you pay for the Chromebook (including 8% Tax)? 8 SA DELL $You have a credit card with an APR of 16%, compounded monthly, that has a balance of $7,000. You want to transfer this balance to a different card with an APR of 14.5%, compounded monthly. Assuming that you will make the minimum payments of $150 per month for either card, what transfer fee would make you ambivalent between transferring or not?I need help with answering question B: A car loan offered by Bank One requires quarterly payments and has an APR of 4.8 percent, whereas a the same loan amount may be obtained from Bank Two at an APR of 5 percent with monthly payments. Which loan would you choose and why?
- You owe $2,000 on a credit card that charges 20% interest. You have $2,200 in your savings account that earns 1.69% interest. Your savings account charges $14.50 a month if you keep a balance of less than $1,500 a month. Compare the amount of interest for both to decide what you should do about paying the credit card bill. Consider all factors in the decision. Show your for any calculations you may completed.1. Which credit card offers the best interest rate? 2. Which credit card has the highest annual percentage rate? Platinum Citibank, Visa 3. What fee is the same for all the credit cards shown and how much is it? Cash Advance Fee, 3% 4. Which credit card has the highest annual fee? 5. Which credit card do you think is the worst card to obtain? Explain why. 6. Which credit card do you think is the best card to obtain? Explain why.Consider a credit card with a balance of $7000. You wish to pay off the credit card in each scenario. Calculate the following. Round your answer to the nearest cent, if necessary.a. The amount of a monthly payment within the time frame givenb. The total amount paid over the time period12. APR of 17.99% paid off within 1 year APR of 24% paid off within 3 years