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3 years ago

Similarities between single column cash book and double column cash book

Business

2 answers:

AlexFokin [52]3 years ago

8 0

Answer:

The answer is "The both cash book is used to store transactions are recorded"

Explanation:

Single and Double column cash book:

A single column cash book is also known as a basic cash book, which is primarily used to record a business cash transactions (both debit and credit sides), it has only a single cash column titled "number" that is annually counted and balanced like that of a T-account.
A double columns cash book is also known as the two columns cash book, which is used to store both debit, credit, and discount sides, in which one for reporting money transfers and another for recording bank transactions.

Sonbull [250]3 years ago

7 0

Answer:

Some similarities are described below.

Explanation:

Single column cash:

There seems to be a single column for something like the number in the consists of a single column financial statement.
Single cash register where financial transactions instead.
In this, the transaction of cash seems to be recorded.

Double column cash:

There seem to be two columns or sections with the double balance sheet.
Triple cash records along with both cash and bank transactions.
In this, transactions of cash, as well as bank both, are recorded.

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A company earned $3,000 in net income for October. Its net sales for October were $10,000. Its profit margin is:

Alekssandra [29.7K]

Answer:

Option B.

Explanation:

Given information:

Net income = $3,000

Net sales = $10,000

Profit margin formula:

$\text{Profit margin}=\dfrac{\text{Net income}}{\text{Net sales}}\times 100$

Substitute given values in the above formula.

$\text{Profit margin}=\dfrac{3000}{10000}\times 100$

$\text{Profit margin}=30$

The profit margin is 30%. Therefore, the correct option is B.

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3 years ago

Mary and Ted are discussing starting a new business and are asking themselves a series of questions like, "What is the worst tha

MissTica

Answer:

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Explanation:

Mary and Ted need to determine the type of partnership business they plan to enter into, if it is a General Partnership, Limited Partnership and Limited Liability Partnership.

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3 years ago

The term ___________________ is used to describe the common pattern whereby each marginal unit of a consumed good provides less

Phantasy [73]

Answer:

diminishing marginal utility.

Explanation:

The term diminishing marginal utility is used to describe the common pattern whereby each marginal unit of a consumed good provides less of an addition to utility than the previous unit.

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3 years ago

Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (

Fofino [41]

Answer and Explanation:

The direct labor overhead rate using the direct labor hours is shown below:-

Direct labor overhead rate = Total overheads ÷ Direct labor hours

= $220,800 ÷ 1,725

= $128

b. The machine hour overhead rate using the machine hours is

= Total overhead ÷ Machine hours

= $220,800 ÷ 4,600

= $48

The factory overhead costs using direct labor hour is

Particulars Automobile Valve Wheels Total

bumpers covers

Direct labor

hours 730 480 515

Overhead rate $128 $128 $128

Total $ 93,440 $61,440 $65,920 $220,800

For determining the total overhead we simply multiply the direct labor hours with overhead rate.

The factory overhead costs using machine hour is

Particulars Automobile Valve Wheels Total

bumpers covers

Machine hours 1,970 1,270 1,360

Overhead rate $48 $48 $48

Total overhead $94,560 $60,960 $65,280 $220,800

For determining the total overhead we simply multiply the machine hours with overhead rate.

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4 years ago

Norred Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $ 7.05 Direct labor $

Vikki [24]

Answer:

$134,300

Explanation:

From the question above, we are required to total amount of indirect manufacturing costs that was incurred by Norred corporation with the information that was provided

The first step is to calculate the total variable manufacturing overhead costs

= Variable manufacturing overhead × Units produced

= $1.60 per unit × 8,000 units

= $12,800

Therefore, the total amount of indirect manufacturing costs can be calculated as follows

= Total variable manufacturing costs + Fixed manufacturing overhead

= $12,800 + $121,500

= $134,300

Hence the total amount of indirect manufacturing costs is closest to $134,300

8 0

3 years ago

Similarities between single column cash book and double column cash book​

Similarities between single column cash book and double column cash book