Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 27%. Complete the account activity tablefor Kathy. (Round your answers to the nearest cent.)MonthJuneJulyNeed Help?PreviousMonth'sBalance(in $)$693.96Submit Answer$822.08Read IttAFinanceCharge(in $)$18.50XPurchasesand CashAdvances$153.38$76.59Paymentsand Credits$300.00$120.00New BalanceEnd of Month(in $)$693.96X

Finance charges are described as the cost of borrowings or the cost of funds. Thus, it is the…

Answered: Kathy Hansen has a revolving credit…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 27%. Complete the account activity table for Kathy. (Round your answers to the nearest cent.) Month April May Previous Month's Balance (in $) $646.17 Need Help? Read It Finance Charge (in $) $14.54 Purchases and Cash Advances $32.45 $285.33 Payments and Credits $95.00 $135.00 New Balance End of Month (in $) tA $598.16
Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 27%. Complete the account activity table for Kathy. (Round your answers to the nearest cent.) Month April May Previous Month's Balance (in $) $646.17 Need Help? Read It LA Finance Charge (in $) $14.54 Purchases and Cash Advances $32.45 $285.33 Payments and Credits $95.00 $135.00 New Balance End of Month (in $) $598.16
Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 12%. Complete the following account activity table for Kathy. Round your answers to the nearest cent. Previous Purchases New Balance Month's Finance and Cash Payments End of Month Balance Charge Advances and Credits Month May $540.00 $177.53 $585.00
dathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 27%. Complete the account activity table for Kathy. Month PreviousMonth'sBalance FinanceCharge(in $) Purchasesand CashAdvances Paymentsand Credits New BalanceEnd of Month(in $) March $640.00 $ $123.97 $75.00 $
Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 21%. Complete the account activity table for Kathy. (Round your answers to the nearest cent.) Month April May LA Previous Month's Balance (in $) $643.17 X +A Finance Charge (in $) $11.26 Purchases and Cash Advances $33.45 $283.33 Payments and Credits $95.00 $115.00 tA New Balance End of Month (in $) $592.88
Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 21%. Complete the account activity table for Kathy. (Round your answers to the nearest cent.) Previous Finance Purchases New Balance Month's Payments and Credits Month Charge (in $) and Cash End of Month Balance Advances (in $) (in $) April $644.17 $11.27 $36.45 $95.00 $596.89 May $ 596.89 $ 10.45 $285.33 $115.00 $ 1007.67
Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 21%. Complete the account activity table for Kathy. (Round your answers to the nearest cent.) Month PreviousMonth'sBalance(in $) FinanceCharge(in $) Purchasesand CashAdvances Paymentsand Credits New BalanceEnd of Month(in $) April $647.17 $11.33 $38.45 $85.00 $611.95 May $ $ $284.33 $125.00 $
Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 27%. Complete the account activity table for Kathy. (Round your answers to the nearest cent.) Previous Finance Purchases New Balance Month's Payments Month Charge (in $) and Cash End of Month Balance and Credits (in $) Advances (in $) April $643.17 $14.47 $32.45 $75.00 $615.09 May $4 $286.33 $125.00
Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 27%. Complete the account activity table for Kathy. (Round your answers to the nearest cent.) Previous Finance Purchases New Balance End of Month Month's and Cash Advances Payments and Credits Month Charge (in $) Balance (in $) (in $) April $642.17 $14.45 $39.45 $85.00 $611.07 May $ $ $289.33 $145.00 $
Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 27%. Complete the account activity table for Kathy. Month PreviousMonth'sBalance FinanceCharge(in $) Purchasesand CashAdvances Paymentsand Credits New BalanceEnd of Month(in $) March $640.00 $ $127.97 $85.00 $
Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 27%. Complete the account activity table for Kathy. (Round your answers to the nearest cent.) Month June July $ Previous Month's Balance (in $) $824.08 $ Finance Charge (in $) $18.54 Purchases and Cash Advances $157.38 $71.59 Payments and Credits $300.00 $130.00 New Balance End of Month (in $) $ $700.00
uppose you have a revolving credit account at an annual percentage rate of 12%, and your previous monthly balance is $389.79. Find your new balance (in $) if your account showed the following activity. Use the unpaid balance method. (Round your answer to the nearest cent.) Statement of Account Billing cycle: July 1–31 DATE DESCRIPTION OF TRANSACTIONS CHARGES July 04 Kit and Capoodle Pets $109.08 July 08 Payment 61.00 July 16 Cash advance 98.82 July 22 Mountain Vineyards 31.37 July 29 Vu Video (credit) 95.97 $

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