Enumerate 5 ways to handle cash in accounting

Whats the difference between the salary and hourly calculator? pleaseeee helpp

Bingel [31]

The main difference between the salary and hourly calculator is that the salary calculator is paid to an employee on the basis of an annual amount that is known as salary and hourly calculator is based on the hourly payment. This is the basic difference between the salary and hourly calculator. For a salaried employee, the number of hours worked in a month can vary without affecting the total salary fixed. In case of hourly calculated payment, the number of hours worked has a direct impact on the payment received. If the number of hours worked is less then the hourly calculated payment will also be less.

5 0

3 years ago

Khalid is a 39-year-old, married business owner who runs a dry cleaning service with three locations. His personal obligations a

madam [21]

Answer:

D. A limited liability company because he will only be liable for what he has invested in the business. His personal assets will be protected, and he can be taxed like a sole proprietorship.

3 0

3 years ago

Amanda's Interior Design has credit sales of $783,000, costs of goods sold of $418,000, and average accounts receivable of $107,

posledela

Answer:

The 50.30 days are required to take its credit customers to pay for their purchases.

Explanation:

For computing the average collection period, we have to use the formula of the average collection period.

Average collection period = Average accounts receivable ÷ Credit sales × total number of days in a year

= $107,900 ÷ $783,000 × 365

= 0.13780 × 365

= 50.30 days

We assume 365 days in a year

The cost of goods sold is irrelevant. Thus, it is not considered in the computation part.

Hence, 50.30 days are required to take its credit customers to pay for their purchases.

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3 years ago

Consider the following accounting terms and definitions and match each term to the definition: Accounting a. an economic resourc

spayn [35]

<h2>Answer: </h2>

Accounting:

The basic tool of accounting, stated as asset=liabilities + equity (e)

Asset:

An economic resource that is expected to be of benefit in the future (a)

Balance sheet:

Reports on an entity’s assets, liabilities, and stockholders’ equity as of a specific date (I)

Expense:

Decreases in equity that occur in the course of selling goods/services (f)

Income statement:

Reports on an entity’s revenues, expenses, and net income or loss for the period (j)

Liability:

Debts that are owed to creditors (b)

Net income:

Excess of total revenues over total expense (d)

Net loss:

Excess of total expense over total revenues (c)

Revenue:

Increase in equity that occur in the course of selling goods/services (g)

Statement of cash flow:

Reports on a business’s cash receipts and cash payments during a period (h)

Statement of retrained earning:

Reports how the company’s retained earnings balance changes from the beginning to the end of the period (k)

8 0

3 years ago

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A firm practicing unrelated diversification can make better capital allocations to its subsidiary businesses than the external c

Maslowich

Answer: C. the firm can acquire other firms with innovative products instead of allocating capital to research and development

Explanation:

Unrelated Diversification is regarded as a diversification which takes place when a company adds an unrelated product to its business. For example, when an television manufacturer enters into a clothing business.

A firm practicing unrelated diversification can make better capital allocations to its subsidiary businesses than the external capital market can for all the following reasons except when the firm can acquire other firms with innovative products instead of allocating capital to research and development.

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3 years ago