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2 years ago

Explain the disadvantage of accounting

2 answers:

4 0

Not Guarantee of accuracy: Accounting recorded all the financial transactions with the past value. ...
Real Value of items: The financial account does not show the real value of assets. ...
Accounting Ignores Qualitative Element: It recorded all the financial transaction which are in the monetary form.

konstantin123 [22]2 years ago

4 0

Answer:

it can make youlife stressful

Explanation:

because its so much work

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Baylor Bank believes the New Zealand dollar will appreciate over the next 15 days from $.90 to $.93. The following annual intere

maw [93]

Answer:

19 milion 86+15=91 19000091

5 0

2 years ago

Feb. 2 Wrote a $350 check to establish a petty cash fund. 5 Purchased paper for the copier for $14.55 that is immediately used.

Nataly [62]

Answer:(1) Dr: petty cash $350, Cr: Cash $350, (2) Total delivery expense $16, Total Milleage expense $71, Total postage expense $65.55, Total merchandise inventory( Transportation -in) $42.4, Total office supplies $81.32, Petty Cash Balance $204.67 (3) a) Dr : Expenses $326.29, Cr : Cash $326.39 (b) Dr: petty cash $490, Cr: Cash $490

Explanation:

Journal entry to establish the petty cash fund

Dr : petty cash $350

Cr: : Cash $350

Journal entry to record the reimbursement

Dr : Expenses $326.39

Cr: Cash $326.39

Journal entry to record the increase in fund amount

Dr:petty cash $490

Cr: cash $490

Total delivery expenses $16

Total mileage expenses $71

Total postage expenses $65.55

Total merchandise inventory (Transportation -in) $42.4

Total office supplies $81.32

Amount received for reimbursement $326.39

Petty Cash Balance $204.67

7 0

3 years ago

2019 2018 2017 2016 2015 Sales $ 672,736 $ 439,697 $ 356,030 $ 248,972 $ 185,800 Cost of goods sold 352,273 230,192 188,636 130,

drek231 [11]

Answer:

2019 2018 2017 2016 2015

Sales 362 237 192 134 100

Cost of goods sold 365 238 195 135 100

Accounts receivable 254 202 191 114 100

Explanation:

Note: See the attached excel file for the table showing how the trend percents are calculated.

Trend percents, often known as index numbers, can be described as percents that are used for comparing financial data across time to a based year or period. This can be calculated using the following formula:

Trend percents = (Analysis year amount / Base year amount) * 100 ........ (1)

Using equation (1), the following table shows the trend percents computed as follows:

2019 2018 2017 2016 2015

Sales 362 237 192 134 100

Cost of goods sold 365 238 195 135 100

Accounts receivable 254 202 191 114 100

Download xlsx

4 0

3 years ago

Given the acquisition cost of product ALPHA is $20, the net realizable value for product ALPHA is $17, the normal profit for pro

Anna [14]

Answer:

LCM = $15.5

Explanation:

RC = $14

Ceiling: NRV = $17

Floor: NRV – PM

Net realizable value for product ALPHA -Normal profit for product ALPHA

= $17 – $1.50= $15.5

Market= $15.5

LCM = $15.5

Therefore the proper per unit inventory value for product ALPHA applying LCM will be $15.5

3 0

3 years ago

On December 1, Victoria Company signed a 90-day, 8% note payable, with a face value of $16,200. What amount of interest expense

elixir [45]

Answer: Interest expense=$108

Explanation:

Interest expense =Principal x Rate x Time ( Period)

Where

Principal = $16,200

Rate =, 8%

TIme ( Period ) = From December 1st to 31`st = 30 days

Interest expense= P x R x T

= $16,200 X 0.08 X 30/360

=$108

The amount of interest expense accrued at December 31 on the note is $108

6 0

3 years ago

Explain the disadvantage of accounting​

Explain the disadvantage of accounting