What is the business activity that's occurring for the customer? Describe the transaction in accounting terms.
Q: hat are the accounting information needed by: a. Internal users b. External users
A: Accounting Information:- This is that information that is required by both external and internal…
Q: What is a transaction? What use does the accountant make of transactions? Why?
A: Accounting's goals include keeping a systematic record of all financial transactions in a book of…
Q: 1. Define the term accounting and explain the importance of accounting in a business.
A: Hi Student, since there are multiple question so we will answer only 1st question, if you want…
Q: How many types of business transactions are there in accounting?
A: Accounting exchanges are those exchanges that legitimately influence the financial statements of a…
Q: What is accounting and how does it relate to business?
A: Accounting: In finance, accounting is the process of documenting financial transactions, keeping and…
Q: What is accounting in business
A: Accounting: Accounting is the process of recording, summarizing, and reporting all the financial…
Q: Explanation of a business's accounting function. What is the function's purpose, and why is it…
A: INTRODUCTION: Accounting is the discipline of recording and reporting on a company's financial…
Q: Explain how accounting works in a business
A: Accounting is the systematic and detailed documentation of a company's financial transactions in a…
Q: What is the role of accounting in business?
A: Accounting: Accounting is a process of documenting all the financial transactions of a business…
Q: Explain how accounting is treated as the language of business. Cite a concrete example.
A: Meaning of Accounting Accounting is the systematic recording of the day to day transactions of a…
Q: In yesteryear's accounting world, what role does an Accounting Information System
A: Accounting information system (AIS) is a collective mechanism wherein information or data related to…
Q: What role does accounting play in a business?
A: Ans. Accounting has a very crucial role to play in business. Accounting is the process of…
Q: What is the main fundamental operation in Accounting? Explain the process
A: Accounting: Accounting is the practice of keeping track of a company's financial activities.…
Q: Discuss and explain how and why accounting is the language of business?
A: Financial Accounting: It refers to the process of recording the financial transactions of the…
Q: laining the accounting role of a business. Why is the function required and what is its purpose?…
A: Accounting is very important for business because without accounting you will not b able to…
Q: How does the title relate to the description of accounting as the “language of business” and to…
A: Describing financial accounting as being useful for decision making by investors, creditors, or…
Q: What do you mean by accounting in business? Explain the Accounting Cycle in detail?
A: Accounting represents the process of recording the financial and non financial transactions in the…
Q: An explanation of the accounting role of a business. What is the purpose of the function, and why is…
A: Accounting is the discipline of recording and reporting on a company's financial transactions and…
Q: In accounting for a business, what does it mean to apply credits? Please explain.
A: Business transactions are happenings that have a financial impact on the financial statements of a…
Q: why is the accounting important to a business
A: Accounting: Accounting is a process of recording financial transactions of a business. The process…
Q: Who will create and maintain the accounting systemthat you use to record routine business…
A: An accounting system is a system utilized in an organization to record transactions. It tends to be…
Q: How Business Analytics is used in the Accounting
A: Accounting's goals include keeping a systematic record of all financial transactions in a book of…
Q: efine what is accounting? How accounting used in our daily activities? What is the nature of…
A: Accounting has emerged as a subject for students that can be used in wide range of activities, say…
Q: Where is the first formal accounting record of a business transaction usually made?
A: State the manner by which the first formal accounting record of a business transaction usually made.…
Q: accounting records used in transaction processing systems?
A: Note: Since you have asked multiple questions, we will solve the first question for you. If you want…
Q: Why is accounting described as a service activity?
A: The activities that are carried out with a view to assist the organisation in the delivery and…
Q: Match the transaction to the basis of accounting used by the business
A: Accounting: Accounting is the method of recording money transactions relating a business. The…
Q: Describe the flow of accounting information from the business transaction to the ledger.
A: The accounting process includes identifying, recording and classifying the business transactions.
Q: What is the role of accounting in business ?
A: Accounting is the process of identifying, recording, summarising and analysing financial information…
Q: What is Accounting? Why is it called the language of the business?
A: Accounting : Accounting is the process of Recording of financial transactions through journal entry…
Q: Why is the accounting cycle important to business? (specific examples needed of why certain steps…
A: Accounting cycle: The accounting cycle refers to the entire process of recording the accounting…
Q: Explain the accounting function of a business. What is the purpose of this function, and why is it…
A: Accounting responsibilities: Accounting functions may be divided into two categories: managerial…
Q: What are accounting and the business environment?
A: Accounting plays an important role in today's business environment as it helps to measure the…
Q: Why do we call accounting "the language of business?
A: Accounting is also referred to as the "Business Language." This is a way of sharing financial…
Q: How does Accounting System Analysis help a Business?
A: The process by which financial transactions of the business are recorded and communicated with the…
Q: What are three questions business owners and managers can answer by looking at accounting…
A: Management and other stakeholders such as suppliers form their financial decisions based on the…
Q: Give one specific example of accounting is a process that is applied in daily operations of business
A: Accounting is the method of recording and analyzing financial transactions in a business to estimate…
Q: What are the steps used when analyzing a business transaction?
A:
Q: What are at least three questions business owners and managers might be able to answer by looking at…
A: The accounting information of a company includes the financial statements prepared by the company…
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- Assignment 6.1: Session 6 Comprehensive Problem (Chapter 8) Instructions In this session, we have a 6-part comprehensive problem. Download the Session 6 Comprehensive Problem Templates below to complete the 6 required parts of the problem. You will need your Bergevin and MacQueen book for reference. Rancho Cucamonga Inc. began business on January 1, 2020. The firm earned $100 from sales in its first year of business. Rancho Cucamonga collected $90 of revenue earned in cash during 2020 and reported a $10 account receivable on its 2020 balance sheet. The firm paid $70 cash for operating expenses in 2020 and reported a $5 account payable for unpaid operating expenses on its 2020 balance sheet. Income tax laws only recognize cash collected from sales and cash paid for expenses as taxable items in the year collected or paid. Rancho Cucamonga also reported a $10 fine, paid in cash, to the federal government for unfair business practices. Generally accepted accounting principles allow firms…BUS 038 : Business Computations 3. For the last 15 years, Tina has been receiving a 20/15/5 series discount. Find the equivalent singlediscount rate.May I ask for a solution and explanation to the problem for a better understanding. Thank you! 6. Using Carrot Corp. What is the Average collection period for year 2? a. 20 days b. 22.50 days c. 24 days d. 24.50 days
- 45. Minutes. I already bought bartlet I hope u can help me to answer this activity of mine.1 Engineering Economic > ECONOMICSTO: EAST WEST COLLEGE 3880 29 STREET NE December 5, 20XX CALGARY, Alberta, T1Y6B6 INVOICE 3763 Course Manual SAGE 50 2000 Manuals $15 each $ 30,000.00 GST $ 1,500.00 $ 31,500.00 How To Record In General Journal?Ch 22 Homework Hide or show questions eBook Calculator Schedule of Cash Payments for a Service Company SafeMark Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $113,800 April 108,100 May 98,400 Depreciation, insurance, and property taxes represent $25,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 68% of the remainder of the expenses are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month. Prepare a schedule indicating cash payments for selling and administrative expenses for March, April, and May. SafeMark Financial Inc. Schedule of Cash Payments for Selling and Administrative Expenses For the Three Months Ending May 31 March April May March expenses:…
- Ch. 8 Homework Question 8 (a) Please solve and show the following Shadee Corp. expects to sell 600 sun visors in May and 800 in June. Each visor sells for $18. Shadee’s beginning and ending finished goods inventories for May are 75 and 50 units, respectively. Ending finished goods inventory for June will be 60 units. Each visor requires a total of $4.00 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $1.50 each. Shadee wants to have 30 closures on hand on May 1, 20 closures on May 31, and 25 closures on June 30 and variable manufacturing overhead is $1.25 per unit produced. Suppose that each visor takes 0.30 direct labor hours to produce and Shadee pays its workers $9 per hour. Additional information: Selling costs are expected to be 6 percent of sales.Fixed administrative expenses per month total $1,200.Required: Complete Shadee's budgeted income statement for the months of May and JuneCh. 8 Homework Question 8 (a)Please solve and show the following Shadee Corp. expects to sell 600 sun visors in May and 800 in June. Each visor sells for $18. Shadee’s beginning and ending finished goods inventories for May are 75 and 50 units, respectively. Ending finished goods inventory for June will be 60 units.Each visor requires a total of $4.00 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $1.50 each. Shadee wants to have 30 closures on hand on May 1, 20 closures on May 31, and 25 closures on June 30 and variable manufacturing overhead is $1.25 per unit produced. Suppose that each visor takes 0.30 direct labor hours to produce and Shadee pays its workers $9 per hour.Additional information: Selling costs are expected to be 6 percent of sales.Fixed administrative expenses per month total $1,200.Required: Complete Shadee's budgeted income statement for the months of May and JuneStep 1Given information is:Shadee Corp.…Item5 eBookPrintReferencesCheck my workCheck My Work button is now disabled1Item 5 Dacker Products is a division of a major corporation. The following data are for the most recent year of operations: Sales $ 36,480,000 Net operating income $ 2,808,960 Average operating assets $ 8,000,000 The company's minimum required rate of return 16% The division's residual income is closest to: Multiple Choice $2,808,960 $4,088,960 $(3,027,840) $1,528,960
- Please give me the correct answer and solution pls. 10. The current assets of Domino's Gift shop by month for the last year are P500, P400, P300, P400, P500, P550, P600, P650, P700, P800, P950, P1,100. The amount of permanent current assets is a. 500 b. 400 c. 300 d. 1,100Question 5 (Marks: 30)Consider the info provided below as well as the financial statements and answer the questionsthat follow. Pearson & Litt is a manufacturing company in the Eastern Cape. Their factory manufactures glasswine bottles for the Blue Valley Beer Co. 2019 2020Sales price per unit R15 R19Variable cost per unit R6 R7Fixed cost (FC) per annum R650 000 R 855 500Fixed cost per unit R3 R4 Current assets R450 600 R560 700Current liabilities R510 000 R780 000Retained profit R21 809 R17 600Net Sales R2 900 320 R 3 100 100Cost of sales R390 000 R475 00018; 19; 20 2020© The Independent Institute of Education (Pty) Ltd 2020Page 11 of 12Q.5.1Q.5.1.1 Calculate the break‐even point for Pearson & Litt for 2019 and 2020. (7)Q.5.1.2 Compare the results of the 2019 and 2020 break‐even point and explainwhy there might be a difference.(3)Q.5.2 The current ratio reflects the relationship between the value of the current assetsand the extent of the current liabilities of a business.…Q22 Washington Arts allocates marketing and administrative costs to its three schools based on total annual tuition revenue for the schools: School Longview Campus Springhill Campus Center Saint Campus Total Tuition revenue $ 1,400,000 $ 1,200,000 $ 1,400,000 $ 4,000,000 Marketing and administrative $ 1,600,000 Using revenue as an allocation base, the amount of costs allocated to the Springhill Campus is calculated to be: Multiple Choice $640,000. $560,000. $400,000. $480,000. $760,000.