Alexa Campbell - Impact of Credit Score on Loans

A) What is the APR for purchases made using this credit card? B) What is the maximum amount that Marcus can put on this credit card? C) Did Marcus pay off the entire balance of his credit card last month? D) Suppose Marcus pays the minimum payment due this month, what will his new balance be, after this payment is processed and assuming he makes no additional purchases?

Your company has loaned money to an outside entity. You earned the monthly interest on the loan but have not received the payment yet.   The payment is expected to be received next month.  To capture the interest expected to be received in the future, you have created account #901, Interest Receivable, in your chart of accounts and booked the journal entry to DR:  Interest Receivable and CR:  Interest Income.   While the basic journal entry was correct, your manager is questioning how you set up this new account.  What needs to be corrected in the chart of accounts shown below, and how would you fix it? Teacher Feedback: Review the detail type and the account number.

Your company has loaned money to an outside entity. You earned the monthly interest on the loan but have not received the payment yet.   The payment is expected to be received next month.  To capture the interest expected to be received in the future, you have created account #901, Interest Receivable, in your chart of accounts and booked the journal entry to DR:  Interest Receivable and CR:  Interest Income.   While the basic journal entry was correct, your manager is questioning how you set up this new account.  What needs to be corrected in the chart of accounts shown below, and how would you fix it?

Your company has loaned money to an outside entity. You earned the monthly interest on the loan but did not receive the payment yet. The payment is expected to be received next month. To capture the interest expected to be received in the future you have created account #901 , Interest Receivable in your chart of accounts and booked the journal entry to DR: Interest Receivable and CR: Interest Income. While the basic journal entry was correct, your manager is questioning how you setup this new account. Based on this image of the chart of accounts below what needs to be corrected and how would you correct this?

Lizzie Gunderson is trying to establish a credit history and applied for a Visa credit card.  She paid the previous month's statement balance in full.  The card carries a finance charge rate of 16%.  What is the amount of finance charge if Lizzie pays off the current $168.20 monthly statement balance in full?

You have two credit cards with the following balances: Card A Credit limit: $20,000 Current Balance: $2,000 Card B Credit limit $25,000 Current Balance $ 14,000 Assuming that both cards have been held by you for the same amount of time and you make regular payments on time. Which card is harming your credit more than the other one? Show your work and explain.

1. Describe the importance of a credit score for financial planning. 2. List the credit bureaus and list information that is contained in a person's credit report. 3. Review at least two sources of free credit reports, such as Credit Karma or any other site that you are familiar with. As described on one of these sites, name the factors that affect credit scores. 4. Propose a strategy that is expected to increase a person's credit score.

As part of the review of her business Rita has been looking into what she is owed by various customers and how many debts are outstanding. Rita has been able to gather the following information about her customers and credit sales. Rita has reached out to an old University friend to get some advice about the likelihood of the amounts owed to her being uncollectible. Age of Customer Debt Amounts owed Estimate of % that (including GST) will not be collected. 1-30 days overdue 14,107.50 5% 31– 180 days overdue 6,204.00 16 % 181 – 365 days overdue 2,458.50 25 % 1 year + overdue 517.00 100 % 23,287.00 Perfect Cover Insurance Brokers sales data for the past year is Credit Sales and Commissions $42,900 $11,600 $ 2,400 (returns are only available on credit sales) Cash Sales and Commissions Sales Returns Industry data shows that 5% of credit transactions are likely to go bad. Rita has also informed you that the current balance in her allowance for doubtful debts account is 500 Dr after a recent…

As part of the review of her business Rita has been looking into what she is owed by various customers and how many debts are outstanding. Rita has been able to gather the following information about her customers and credit sales. Rita has reached out to an old University friend to get some advice about the likelihood of the amounts owed to her being uncollectible. Age of Customer Debt Amounts owed Estimate of % that (including GST) will not be collected. 1-30 days overdue 14,107.50 5% 31– 180 days overdue 6,204.00 16 % 181 – 365 days overdue 2,458.50 25 % 1 year + overdue 517.00 100 % 23,287.00 Perfect Cover Insurance Brokers sales data for the past year is $42,900 $11,600 $ 2,400 (returns are only available on credit sales) Čredit Sales and Commissions Cash Sales and Commissions Sales Returns Industry data shows that 5% of credit transactions are likely to go bad. Rita has also informed you that the current balance in her allowance for doubtful debts account is 500 Dr after a recent…

For her flower sales, Beatrice is entering a number of customer payments as a bank deposit. After she selects a particular customer, what should she do next? Select an answer: Enter a description of the flowers. Select Product Sales under Account. Create an invoice for the sale.

Part of your job is to review customer requests for credit. You have three new credit applications on your desk and part of your analysis requires that the current ratlos and quick ratlos be compared.

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.

Show work.

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Cynthia Roberts has a credit card account at Harry's Hardware, which uses the unpaid-balance method of computing finance charges. The periodic rate is 1.5 percent. Ms. Roberts's previous balance is $178.85, and she had payments and credits of $74.00. If she has new purchases of $98.74, what is her new balance? O $305.39 O $206.64 O $205.16 O $156.42

Hello.  Could I please get step by step instructions/example of how to compute a car loan to determine amount of monthly payments and interest.

6) Jim is trying to calculate his available credit. The following information was recorded by him. His total credit line is $5,000. Previous Payments/ Balance Credits $4,421.27 $2,100 New Late Purchases Charge $889.10 $15 a) What is his new balance? b) What is his available credit? Finance Charge $12.43 New Balance Minimum Payment $25

Let’s say someone received a free credit report this year. What are 3 situations in which the credit bureaus would have to provide them an additional free report?

Only HAndwritten answer needed Please.   Mention all concept /formulae/explanation used for obtaining the result .thank you

I need this asap please and thank you.  Describe 2 accrual transactions and 2 deferral transactions. My business is an Electrotechnology Sales and Repair. Please include 2 accrual transactions and there dates, along with 2 deferral transactions and there dates. For the accrual transactions, please use credit or debit sales and credit purchases. For the deferral transactions, please use prepaid insurance and prepaid telephone charges, etc. Note: This can be made up amounts, just as long as they make sense. Please also include an explanation.

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 payment

Part of your job is to review customer requests for credit. You have three new credit applications on your desk and part of your analysis requires that the current ratios and quick ratios be compared a. Complete the following schedule. (Round the final answers to 2 decimal places.) Account Cash Current non-strategic investments Current receivables Inventory Prepaid expenses Land Current liabilities Current ratio Quick ratio $ $ S $ $ $ $ Kasta 3.900 0 4,320 2,900 460 5,550 3,780 4 1 $ $ $ $ $ $ $ Nasta 1,640 0 1,740 1,610 930 6,380 2,410 $ S $ $ $ 5 5 Dusta 3,300 1,300 310 14,530 4720 25.750 11,080

Use the unpaid balance method to find the finance charge on the credit card account. Last month's balance, the payment, the annual interest rate, and any other transactions are given below. Last month's balance. $500 Payment, $250 Interest rate, 16.6% Bought dog, $120 Bought pet supplies, $40 Paid veterinarian bill, $90 The finance charge is $