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What is the current balance that Joe Doe owes? $1270.54 2.What is the total amount that Joe charged for this billing cycle? a. List the purchases that Joe made. 3. How much did Joe pay for his last payment?

What is the current balance that Joe Doe owes? $1270.54 2.What is the total amount that Joe charged for this billing cycle? a. List the purchases that Joe made. 3. How much did Joe pay for his last payment?

Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter22: Master Budget (master)
Section: Chapter Questions
Problem 2R: Open the file MASTER from the website for this book at cengagebrain.com. Enter all the formulas...
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1. What is the current balance that Joe Doe owes? $1270.54 2.What is the total amount that Joe charged for this billing cycle? a. List the purchases that Joe made. 3. How much did Joe pay for his last payment? 4. Why was Joe charged $35 by the credit card company? 5. How much interest was Joe charged for this month? 6. What is the credit limit that Joe has for this credit card? a. What is Joe’s available credit? 7. What is APR for purchases for this credit card? 8. What is the minimum payment amount that Joe must make? 9. When is the due date for Joe to make a payment? 10. Did Joe take a cash advance on this credit card? 11.Why did you think the federal government requires that financial institutions place a “Total Minimum Payment Warning” on all credit card statements?
ll AT&T 2:52 PM 48% Directions: Use the credit card statement to answer the questions on the following page. Summary of Account Activity Payment Information $1270.54 $25.00 4/29/19 Current Balance..... Previous Balance Payments.... Other Credits Purchases Balance Transfers Cash Advances . $1000.00 Minimum Payment Due $500.00 $0.00 $725.00 $0.00 $0.00 receive your minimum payment by the date $0.00 listed above, you may have to pay a $35 late $35.00 fee and your APRa may be increased up to $10.54 the penalty APR of 28.99% Payment Due Date.... Late Payment WVarning: If we do not Due Amount. Fees Charged. Interest Charged Current Balance Credit Limit Available Credit Statement Closing Date Days in Billing Cycle. $1270.54 Total Minimum Payment Warning: If you $5000.00 make only minimum payments, you will pay $3729.46 04/2019 more and it will take longer to pay off your balance. For example: 30 Questicas! Call Customer Service...I-800-xXX- Lost or Stolen Credir Card.1-S00-K-XXX • if you pay only the minimum payment it wil take 93 monthe to pay off and you will have paid $1891.33 TRANBACTION BUMMARY Date Description Reference Charges Credits 3/25 Grocery Land $142.00 3/27 Book Store XX99900XX9 $33.00 4/1 Restaurant $125.00 4/19 Payment $500.00 4/19 Bob's Auto XX99900X9 $425.00 Fees and Iuterest $35.00 $0.00 $0.00 $0.00 10.54 FINANCE CHARGE CALCULATION Late fees Balance transfer feen Purchases @ 13.99% APR: $0.00 Balance Transfers @ 13.99% APR: $O.00 Cash advance fees Total fees for this period Total interest for i Cash Advances @ 25.99% APR: $0.00 period Send Payment to: Blue CARD SERVICES PO BOX 999 MONEYVILLE, MA 99999-9999 Account Number 9999 5555 9999 s555 Payment Due Date: 4/29/2019 New Balance Total: $1270.54 Current Payment Due: $25.00 Amount Enclosed $ ANALYSIS John Doe's Credit
Transcribed Image Text:ll AT&T 2:52 PM 48% Directions: Use the credit card statement to answer the questions on the following page. Summary of Account Activity Payment Information $1270.54 $25.00 4/29/19 Current Balance..... Previous Balance Payments.... Other Credits Purchases Balance Transfers Cash Advances . $1000.00 Minimum Payment Due $500.00 $0.00 $725.00 $0.00 $0.00 receive your minimum payment by the date $0.00 listed above, you may have to pay a $35 late $35.00 fee and your APRa may be increased up to $10.54 the penalty APR of 28.99% Payment Due Date.... Late Payment WVarning: If we do not Due Amount. Fees Charged. Interest Charged Current Balance Credit Limit Available Credit Statement Closing Date Days in Billing Cycle. $1270.54 Total Minimum Payment Warning: If you $5000.00 make only minimum payments, you will pay $3729.46 04/2019 more and it will take longer to pay off your balance. For example: 30 Questicas! Call Customer Service...I-800-xXX- Lost or Stolen Credir Card.1-S00-K-XXX • if you pay only the minimum payment it wil take 93 monthe to pay off and you will have paid $1891.33 TRANBACTION BUMMARY Date Description Reference Charges Credits 3/25 Grocery Land $142.00 3/27 Book Store XX99900XX9 $33.00 4/1 Restaurant $125.00 4/19 Payment $500.00 4/19 Bob's Auto XX99900X9 $425.00 Fees and Iuterest $35.00 $0.00 $0.00 $0.00 10.54 FINANCE CHARGE CALCULATION Late fees Balance transfer feen Purchases @ 13.99% APR: $0.00 Balance Transfers @ 13.99% APR: $O.00 Cash advance fees Total fees for this period Total interest for i Cash Advances @ 25.99% APR: $0.00 period Send Payment to: Blue CARD SERVICES PO BOX 999 MONEYVILLE, MA 99999-9999 Account Number 9999 5555 9999 s555 Payment Due Date: 4/29/2019 New Balance Total: $1270.54 Current Payment Due: $25.00 Amount Enclosed $ ANALYSIS John Doe's Credit
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