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3 years ago

14

Provide an example of software that may be used to maintain financial records, and identify advantages of using it over maintain

ing manual records

1 answer:

soldier1979 [14.2K]3 years ago

5 0

For businesses, you can use Quickbooks to manage financial records like payments, expenses, inventory, etc.

This is an advantage because report writing becomes easier to manage, automated tax calculations, and increased accuracy.

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MAVERICK [17]

Answer:

Explanation highest paying

:

6 0

1 year ago

Exhibit 4.1 The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges

yuradex [85]

Answer:

Koski Inc.

Quick Ratio:

Quick Ratio = (Current Assets - Inventory) divided by Current Liabilities

Quick Ratio = $(23,595 - 12,480) / $(17,160 -5,460)

Quick Ratio = 11,115 / 11,700 = 0.95

Explanation:

The quick ratio is a financial metric that shows the short-term liquidity position of a company. It measures the company's ability to settle its short-term obligations using its most liquid current assets. The most liquid assets are cash and near cash current assets.

Inventory is always removed in calculating the most liquid current assets. Inventory will take some time before it can be converted to cash or near cash, given the cash conversion cycle.

The quick ratio is also called the acid-test ratio. It is also considered as more conservative than the current ratio which measures the coverage of current liabilities by all current assets, including inventory.

In our workings, we eliminated inventory from current assets. We also eliminated notes payable which would be rolled over the next year.

4 0

2 years ago

The business was started when the company received $48,500 from the issue of common stock. Purchased equipment inventory of $176

masya89 [10]

Answer:

Total current liabilities 85.008,33‬

Explanation:

current liabilities: obligations that will setlte within a one-year period

<em />

<em>accounts payable</em> from the purchase of equipment:

cost: 176,500

paid: <u> (125,900) </u>

balance: 50,600

<em />

<em>waranty liaiblity:</em>

191,000 x 5% = 9,550

<em>sales tax payable:</em>

sales for 191,000

paid for <u> (141,000) </u>

unpaid for 50,000 x 6% = 3,000

<em>note payable</em> with a local bank:

principal: 21,500

accrued interest: 21,500 x 5% x 1/3 = 358,33

net: 21,858.33

<u>Total current liabilities:</u>

accounts payables 50,600

warrant liability: 9,550

sales tax payable: 3,000

note payable: <u> 21,858.33 </u>

85.008,33‬

5 0

2 years ago

A man aged 40 wishes to accumulate a fund for retirement by depositing $1,000 at the beginning of each year for 25 years. Strati

Firdavs [7]

Answer:

The man will made 15 drawins for 31,468 at their retirement age.

Explanation:

We solve for the future value of the annuity-due (deposits at the beginning)

$C \times \frac{(1+r)^{time} -1}{rate}(1+r) = FV\\$

C 1,000.00

time 25

rate 0.04

$1000 \times \frac{(1+0.04)^{-25} -1}{0.04}(1+0.04) = PV\\$

FV $375.1168

Now, we calcualte the amount of the withdrawals considering the new rate:

$PV \div \frac{1-(1+r)^{-time} }{rate}(1+r) = C\\$

$375.116802253964 \div \frac{1-(1+0.035)^{-15} }{0.035}(1+0.035) = C\\$

C $ 31.468

7 0

3 years ago

Once a document conveying an interest in real property is placed in the public records it is binding on the public, whether or n

asambeis [7]

Answer:

b. doctrine of constructive

Explanation:

According to the doctrine of constructive, the company or the people under the provisions of the companies law should have the knowledge of memorandum of association and the article of association but there is an exception towards the indoor management

Here in the given situation, represents the doctrine of constructive scenario

Hence, the correct option is B.

8 0

2 years ago