Century 21 Accounting Multicolumn Journal
11th Edition
ISBN: 9781337679503
Author: Gilbertson
Publisher: Cengage
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Establish a credit history. After graduating from college last fall, Holly Baker took a job as a consumer credit analyst at a local bank. From her work reviewing credit applications, she realizes that she should begin establishing her own credit history. Describe for Holly several steps that she could take to begin building a strong credit record. Does the fact that she took out a student loan for her college education help or hurt her credit record?
Use the example attached to help fill out Zoe's checking account register.
Use the information below to log Zoe’s payments and deposits in her checking account register.
Saturday, 9/29 Zoe and her friends go to the movies on Saturday night. The price of admission is $12, and she also buys popcorn and a soda for $6.50. She uses her debit card twice at the theatre to pay for her entertainment purchases.
Date
Check no.
Provide Description of transaction
Payment/debit (-)
Credit (+)
Balance
Abdul has a debit card linked to a checking account with an available balance of $1480.
He also owes $1030 on his credit card, which has a credit limit of $2400.
Use this information to answer the questions below.
(a) Abdul is going to purchase an item with his debit card.
What is the most he can spend?
$0
(b) Abdul is going to purchase an item with his credit card.
What is the most he can spend?
$
(c) Suppose an item costs $1400. Which card can be used for the entire purchase?
Select all that apply. If neither card can be used, check "Neither".
Debit card
n Credit card
n Neither
X
Ś
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Similar questions
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- Use the example attached to help fill out Zoe's checking account register. Use the information below to log Zoe’s payments and deposits in her checking account register. Wednesday, 9/26 Zoe received her car insurance bill in the mail today. She writes a check for $115 to pay the bill. Record the amount for check #101 in her check register.arrow_forwardc. Compare the amounts of money that Mitch and Bill deposit into their accounts. Mitch deposits $enter your response here in his account and Bill deposits $enter your response here in his account.arrow_forwardPROBLEM RECOGNITION TASK Determine the maximum deposit insurance coverage by PDIC in the following items. 3. Jessa Manucdoc has the following deposit accounts in a closed bank: Jessa Manucdoc’s modeling business (sole proprietorship) P300,000 Jessa Manucdoc P400,000 Jessa Manucdoc and Elmira Gersaniva P900,000 Jessa Manucdoc and Francia Cabezudo P500,000 What is the maximum deposit insurance coverage as far as Jessa is concerned?arrow_forward
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