1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Ahat [919]
1 year ago
6

Write about how bookkeeping is done in a small business and what they can do to improve their business

Business
1 answer:
jonny [76]1 year ago
3 0

Bookkeeping can be done in small business by following these procedures:

  • Creation of  a New Business Account is required.
  • Setting  Budget  just for  Tax Purposes.
  • make your  Records Organized.
  • Tracking of all the business  Expenses.
  • Maintaining  Daily Records.
  • Leaving an Audit Trail.

<h3>What is the purpose of bookkeeping and how can it  improve their business?</h3>

The  book-keeping is very essential in business because it  keep a complete as well as  accurate record of all the financial transactions.

This is been done in  in a systematic orderly and  logical manner, by following the steps above the business can be improved.

Find out more on Bookkeeping at brainly.com/question/25572872

#SPJ1

You might be interested in
Consider the following transactions for Thomas Company and their effect on the accounting equation. Click on each transaction fo
Soloha48 [4]

Answer:

the numbers are missing, so I looked for a similar question:

  1. Investment in the business $17,010
  2. Borrow cash $7,620
  3. Purchase equipment $8,300
  4. Revenues earned $298,600
  5. Expenses incurred $210,900
  6. Dividends $15,000

since there is not enough room here, I used an excel spreadsheet. I assumed all sales were on cash and all expenses were also paid using cash.

Download pdf
8 0
3 years ago
A. Avoid extra payroll expenses.
LUCKY_DIMON [66]

Answer:

<h2>A. Avoid extra payroll expenses.</h2>

Explanation:

i hope it helps :)

3 0
3 years ago
The double-entry principle in the balance-of-payments
Sliva [168]

Answer:

The Current account is for goods and services.

The Financial account is for exchange of currencies and financial assets across countries.

Miguel, a U.S. resident, buys an HDTV set for  $2,500 and sends it to Mexico as a gift to his parents. <u>DEBIT CURRENT ACCOUNT. CREDIT CURRENT ACCOUNT. </u>

Miguel buys the good in the U.S. and then sends it so this falls under the current account alone.

Arielle, a French tourist, stays at a hotel in San  Francisco and pays $400 for it with her debit  card issued by a French bank. <u>DEBIT FINANCIAL ACCOUNT. CREDIT CURRENT ACCOUNT. </u>

The Financial account should be debited to show that currency is coming into the U.S. from outside the country and current account should be credited for services rendered.

A U.S. computer manufacturer purchases hard  drives from a Korean company, paying the funds  from its bank account in Korea. <u>DEBIT CURRENT ACCOUNT. CREDIT FINANCIAL ACCOUNT. </u>

Current account should be debited to reflect that goods are coming into the country but the financial account should be credited to show that currency is leaving the ownership of an American entity so it is passing out of American hands.

3 0
3 years ago
Firms that are _______ recognize that including a strong social orientation in business is a sound strategy that is in the best
nirvana33 [79]

Answer:

The correct answer is E. socially responsible

Explanation:

A company is socially responsible when it works attached to values and that within its business objectives includes supporting social, economic and environmental needs in order to optimize its competitive situation and its added value.

When a company is socially responsible, it does so by its own decision and not by taxation and its policies, strategies and practices are aimed at favoring its employees, suppliers, family, environment and environment.

The green paper of the European Commission states that "corporate social responsibility is the voluntary integration, by companies, of social and environmental concerns in their business operations and their relationships with all their partners."

7 0
3 years ago
Mrs. Tolstoy and her husband, Serge, are planning their dream house. The lot for the house sits high on a hill with a beautiful
sergeinik [125]

Answer:

$299,280

Explanation:

If the Tolstoys purchased the house they would pay on average $120 per sq ft x 2,900 sq ft = $348,000

If Mr. installs the plumbing and Mrs. Tolstoy decorates the house, they can save 10% (plumbing and installing plumbing fixtures) and 4% (interior decorating) = 14% of the cost

So the Tolstoys can save = $348,000 x 14% = $48,720

the cost of the house = $348,000 - $48,720 = $299,280

8 0
3 years ago
Other questions:
  • Preferred stock comes in many varieties. ____ preferred stock includes a requirement that past dividends not paid must be paid i
    7·1 answer
  • Assume an economy is incurring unemployment. The effect of resolving this problem will be to:
    12·1 answer
  • Derby Inc. manufactures a product which contains a small part. The company has always purchased this motor from a supplier for $
    12·1 answer
  • The Baldwin company will sell 100 units (x1000) of capacity from their Bid product line. Each unit of capacity is worth $6 plus
    15·1 answer
  • Daniel, the supervisor of a team of financial analysts, aims to become a manager. He is confident about his ideas in the workpla
    7·1 answer
  • In order to save time, money, and effort a group of criminologists, sociologists, psychologists, and political scientists combin
    5·1 answer
  • In your computer repair business, it takes an employee 40 minutes to remove a virus. The employee is paid $14 per hour. What is
    7·1 answer
  • Đề xuất 1 chiến lược cạnh tranh phù hợp cho công ty cổ phần bia rượu Sài Gòn SABECO
    6·1 answer
  • Assembly or production of finished products, producing the right amount of product, and ensuring that finished products meet spe
    9·1 answer
  • What two accounting equalities must be maintained in transaction analysis?
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!