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
CaHeK987 [17]
2 years ago
11

Need help!

Business
1 answer:
Romashka [77]2 years ago
4 0

Answer:

1. Journal entries are quicker and more comfortable in the manual accounting

2. Posting is easier in computer software-based accounting

3. Trial balance adjustment in manual accounting is tricky. However, a lengthy process may pose a challenge for computerized accounting.

4. Financial statements are more straightforward in software-based accounting than manual accounting

Explanation:

The introduction of accounting software such as QuickBooks has transformed the working for accounting professionals. The conventional accounting system replacement has made the job more comfortable. However, there are new challenges added, such as learning the software, making error-free inputs, and pace of computer-related entries. However, considering that once these skills are learned, the overall job is easier than before.

1. Journal entries in manual are made quicker, and errors can be rectified. However, entries are linked automatically to their respective ledgers that solve the challenges with compound entries

2. Posting is simpler in software as the general ledger is created on a single click. Manual posting requires time and efforts

3. Adjusted entries need to manual input in conventional method to create the adjusted trial balance whereas, in software, its added through adjusting journal entries.

4. Financial statements are much more straightforward in software as they are available on one click, whereas in manual accounting, they are required to be calculated.

You might be interested in
Which mode of transportation typically has the highest value-to-weight ratio? (Food for thought as you answer this question: Thi
mr Goodwill [35]

Option F, Air

Explanation:

The value to weight of an item is an indicator of the financial value per kilogram or kilo of an item. It is an important step for the development and strategy of the distribution chain.

If it is decided whether the cost savings in total inventory holding costs should be compared with savings on cost by means of cheaper transportation when shipments are made by sea, taking longer, than by air, usually the shorter one.

The diamonds and coal are a different example of the weight ratio. They are two types of carbon but they are of very different weight ratios. For diamonds, air and private jet charter can be well justified, depending on the size and value of the shipment.

7 0
3 years ago
Which phrases offer the MOST vivid descriptions in this student's narrative about some children's experiences at an attraction a
leonid [27]

Answer:

I have forgotten later I tell you

Explanation:

6 0
3 years ago
A retail store has three departments, S, T, and U, and does general advertising that benefits all departments. Advertising expen
Andrew [12]

Answer: $22,500

Explanation:

First calculate the rate of allocation based on sales to determine how much of Department T's sales should be attributed to Advertising.

The Rate of Allocation based on Sales = Advertising Expense/Total sales

= 50,000/475,000

= 0.105263

= 10.5263%

This 10.5% can then be used to find out how much of Advertising to apportion to Department T based on department sales,

= Department sales * Allocation rate

= 213,750 * 10.5263%

= $22,500

$22,500 should be allocated to Department T.

8 0
3 years ago
LMN Company produces a product that sells for $1. The company has production costs of $600,000, half of which are fixed costs. A
madam [21]

Answer:

Unitary Contribution margin= $0.6

Explanation:

Giving the following information:

LMN Company produces a product that sells for $1. The company has production costs of $600,000, half of which are fixed costs. Assuming the production and sales of 750,000 units.

Variable cost= 600,000/2= $300,000

Unitary variable cost= 300,000/750,000= $0.4

Unitary Contribution margin= 1 - 0.4= $0.6

Total contribution margin= $450,000

8 0
3 years ago
If the present value of $280 paid one year from now is $250 what is the one-year discount factor?
OleMash [197]

Answer:

12%

Explanation:

The discount rate  will be  PV/FV -1

i.e., i =  (Fv/pv )-1

i=  (280/250) - 1

i = 1.12-1

i=12%

7 0
2 years ago
Read 2 more answers
Other questions:
  • files kept within a department are -------------- files a. decentralized b. transactional c. direct access d. centralized
    11·1 answer
  • When management analyzes whether to move production to another country or to keep the production located where it currently is,
    5·1 answer
  • The following account balances were drawn from the financial records of Kent Company (KC) as of January 1, 2018: Assets, $35,000
    13·1 answer
  • Polly Khan is trying to calculate the current market rate given the following information: Investor’s have been requiring a 12%
    8·1 answer
  • Which of the following statements is correct?a. The role of Finance is to use the numbers developed through accounting to aid in
    8·1 answer
  • Among the members of the Federal Open Market Committee is the Chair of the Senate Banking Committee. are the seven members of th
    11·1 answer
  • What are the sources of information about foreign employment ? Introduce them in brief.​
    12·2 answers
  • Jimmy and Beth have both been assigned to a team to choose how to dispose of waste. Jimmy has long believed the company should c
    10·1 answer
  • What is the title of the Access form shown above? frmBasic tblRetailer 0001 Spice World
    9·1 answer
  • Explain one opportunity cost of a private limited company deciding to award a pay increase to
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!