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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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The Rock Company produces basketballs. It incurred the following costs during the year.

AVprozaik [17]

Answer:

Total cost under absorption costing= $81,400

Explanation:

The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.

Direct materials $14,400

Direct labor $25,600

Fixed manufacturing overhead $12,000

Variable manufacturing overhead $29,400

Total cost under absorption costing= $81,400

6 0

3 years ago

An owner of a landscaping business received extra income in the previous month. She is considering either buying a new lawnmower

Klio2033 [76]

Answer:

The opportunity cost will be Buying a new lawnmower

Explanation:

Opportunity cost refers to the cost of a forgone alternative. In this scenario, since the owner of a landscaping business has decided to spend the extra income on advertising campaign in order to increase sales, the forgone alternative here becomes buying a new lawnmower.

6 0

4 years ago

PackMan Corporation has semiannual bonds outstanding with nine years to maturity and the bonds are currently priced at $754.08.

Nezavi [6.7K]

Answer:

The after-tax cost of debt is 8.22%

Explanation:

The cost of debt is the actual cost of a business to raise debt finance. Yield to maturity is the cost of debt of a bond.

calculate the YTM as follow

Coupon = $1000 x 7.25% x 6/12 = $36.25

Number of periods = 9 yeas x 12/6 = 18 periods

Use the financial calculator as below

2nd I/Y 2, FV 1000, PMT 36.25, PV -754.08, N 18, CPT I/Y

Yield to maturity = 11.7499%

Now calculate the after tax YTM

YTM ( after tax ) = 11.7499% x ( 1 - 30% )

YTM ( after tax ) = 8.22%

3 0

3 years ago

Caitlin, Chris, and Molly are partners and share income and losses in a 3:4:3 ratio. The partnership’s capital balances are Cait

natka813 [3]

Answer:

Pauls' share in partnership=(131000+91000+111000+171000)*0.15%= $75600

Balance in Caitlin’s capital account immediately after Paul’s admission = 131000-(75600-71000)*30%= $129160

6 0

3 years ago

In response to dwindling sales of organic meats, Hain Celestial executives decided to promote the sale of organically grown nuts

3241004551 [841]

Answer:

Product substitute

Explanation:

Product substitute is defined as one that meets similar needs of the consumer. As demand for one of such goods rises the demand of the other tends to fall as the meet similar needs.

In the given scenario organic meats are seen as being substituted by organically grown nuts as a source of protein.

So when Hain Celestial has dwindling sales of organic meats they were considering organically grown nuts as a different product to give to customers

3 0

3 years ago