A credit card account has an unpaid balance of P 8,210 as of April 5, 2017. Purchases amounting to P 4,045 on groceries and P 12,000 on apparels were made on April 12, 2017 and Aril 15, 2017, respectively. A cash advance of P 10,000 was credited to the account with a flat rate 5% monthly on April 18, 20217. A cash payment of P 15,000 was made on April 30, 2017. If the company policy excludes cash advances in the computation of the ADB, what is the total finance charge on the May 5, 2017 bill if the interest rate on the ADB is 3.5% per month?A mutual fund has total assets of P 500M and total liabilities of P 50M. If there are P 1,500,000 outstanding shares, find the net asset value of the mutual fund.please show your solution, thank you so much!

Introduction: Finance charges are the fees you pay when you take out a loan or extend an existing…

Answered: A credit card account has an unpaid…

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 10EB: Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts...

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A credit card account has an unpaid balance of P 8,210 as of April 5, 2017. Purchases amounting to P 4,045 on groceries and P 12,000 on apparels were made on April 12, 2017 and Aril 15, 2017, respectively. A cash advance of P 10,000 was credited to the account with a flat rate 5% monthly on April 18, 20217. A cash payment of P 15,000 was made on April 30, 2017. If the company policy excludes cash advances in the computation of the ADB, what is the total finance charge on the May 5, 2017 bill if the interest rate on the ADB is 3.5% per month?
A mutual fund has total assets of P 500M and total liabilities of P 50M. If there are P 1,500,000 outstanding shares, find the net asset value of the mutual fund.

please show your solution, thank you so much!

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