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3 years ago

Difference between bookkeeping and accounting

1 answer:

5 0

Here, Bookkeeping is responsible for the recording of financial transactions whereas Accounting is responsible for interpreting, classifying, analyzing, reporting and summarizing financial data.

Hope this helps!

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Burrough Corporation paid $80,000 to acquire all of Helyar Company’s net assets. Helyar reported assets with a book value of $60

german

Answer: the goodwill is $5000

Explanation:

We don't take into account $60,000 because we are going to use the fair value or the reasonable price.

Net assets = Assets-liabilities

Net assets = $98,000 - $23,000

Net assets= $75,000

Burrough Corporation pay $. 80,000 (We don't take into account $3000 paid to another firm)

So the goodwill pay is $80,000-$75000= $5,000

6 0

3 years ago

Pederson Enterprises produces giant stuffed bears. Each bear consists of $12 of variable costs and $9 of fixed costs and sells f

andreev551 [17]

Answer:

Incremental Income =$8,000

Explanation:

In order to carry out an incremental analysis, only relevant cash flows should be considered.

The relevant cash flows from accepting the special order are

the variable costs
sales revenue at the offer price of $14
Extra shipping cost

Please, note that the fixed costs are not relevant for this decision. Simply because they would be incurred either way and that are not completely traceable to this product.

Incremental income

Incremental income = (offer selling price - variable cost) × units

= 14 - (12 + 1) × 8000 =$ 8000

Incremental Income =$ 8,000

8 0

3 years ago

Bob's Clothing Shop's inventory at cost was $30,000 on January 1. Its retail value is $42,000. During the year, Bob's Clothing S

DENIUS [597]

Answer:

Ending Inventory = $55,000

Explanation:

Particular Cost price Retail price

Opening Inventory $30,000 $42,000

Add: Additional Purchases $196,000 $368,000

Cost of Goods Available for Sale $226,000 $410,000

Cost to Retail Ratio: 55 %

Less: Net Sales $310,000

Ending Inventory $55,000 $100,000

Note:

Cost to Retail Ratio = $226,000 / $410,000

Cost to Retail Ratio = 55% (Approx)

6 0

3 years ago

After a fairly short plane ride from new york city, irving found himself on a dusty road with goats, chickens, and motor scooter

Amanda [17]

The answer from the given options is "culture shock".

Culture shock refers to an experience an individual may have when one moves to a social domain which is not quite the same as one's own; it is likewise the individual confusion a man may feel while encountering a better approach for life because of migration or a visit to another nation, a move between social situations, or basically change to another sort of life. One of the most well-known reasons for culture shock includes people in a foreign environment or situation. Culture shock can be depicted as comprising of at least one of four particular stages: vacation, arrangement, modification, and adjustment.

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3 years ago

someone please help someone broke into my house and my phone is dead my address is 4935 Waterford drive in Zachary Louisiana.Thi

mylen [45]

Answer:

i can't help pal im on a whole desktop

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4 years ago