All categories

3 years ago

Mention any three differences between bookkeeping and accounting

Business

1 answer:

nalin [4]3 years ago

7 0

Answer and Explanation:

The three differences between the bookkeeping and accounting is as follows:

1. The preparation of the financial statements would not be part of this but it should be the part of the accounting

2. The bookkeeping does not required any kind of skill set but in the accounting it require skill set to perform the calculations

3. Bookkeeping does not do any kind of analysis but the accounting perform the analyses, it use the bookkeeping information so that it would help to interpret the data.

You might be interested in

Detrich Products is planning to upgrade an aging manufacturing operation five years from now at a cost of $100,000. If the compa

Reika [66]

Answer:

$21,547.08

Explanation:

To get the amount of the deposit, we use the PMT function of MS Excel

Rate = 10%

Nper = 4

Pv = 0

FV = -100000

PMT = ?

The amount of the deposit = PMT(Rate, Nper, PV, -FV)

The amount of the deposit = PMT(10%, 4, 0, -100000)

The amount of the deposit = 21547.08037

The amount of the deposit = $21,547.08

So, the amount of the deposit at 10% per year interest is closest to $21,547.08

6 0

3 years ago

An employee who just finished an mba paid for by a firm’s tuition reimbursement program might feel a moral obligation to stay wi

Arturiano [62]

The answer is normative commitment as this is a type of commitment in which an individual acquires because he or she feels a sense of obligation of having to be committed and to stay in which is seen in the scenario above as the person stays because of his obligation.

6 0

3 years ago

A company issued 5%, 20-year bonds with a face amount of $60 million. The market yield for bonds of similar risk and maturity is

Lesechka [4]

Answer:

Total $53.0656 (millions)

Explanation:

We will need to add the present value of the coupon payment

and the present value of the maturity date

present value of the annuity:

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C= 60 million x 5% /2 1.5

time= 20 years 2 payment per year = 40

rate = 6% annual = 0.06/2 = 0.03 semiannually

$1.5 \times \frac{1-(1+0.03)^{-40} }{0.03} = PV\\$

PV $34.6722

present value of the bonds:

$\frac{Maturity}{(1 + rate)^{time} } = PV$

Maturity 60

time 40

rate 0.03

$\frac{60}{(1 + 0.03)^{40} } = PV$

PV $18.3934

The value of the bond will be the sum of both

PV c $34.6722

PV m $18.3934

Total $53.0656

7 0

3 years ago

Pare, Inc. purchased 10% of Tot Co.'s 100,000 outstanding shares of common stock on January 2, Year 1, for $50,000. On December

BARSIC [14]

Answer:

$230,000

Explanation:

Calculation to determine What amount should Pare report in its December 31, Year 1, Balance Sheet as investment in Tot

Based on the information given the 10% ownership percentage will be used in Year 1 reason been that the additional 20% purchased in 12/31/Year 1, hence In Year 2, 30% earnings would be recorded in the investment account

Investment account at 12/31/Year 1 =[(Actual ownership percentage*Outstanding shares of common stock 1/2/Year 1)+ 1/2/Year 1 Common stock value ] +(Additional ownership percentage*Outstanding shares of common stock 12/31/Year 1 )+ 12/31/Year 1 Additional shares value]

Let plug in the formula

Investment account at 12/31/Year 1 =

[(100,000*10%)+$50,000]+[(100,000*20%)+$150,000

Investment account at 12/31/Year 1 =($10,000+$50,000)+($20,000+$150,000)

Investment account at 12/31/Year 1 =$60,000+$170,000

Investment account at 12/31/Year 1 =$230,000

Therefore The amount that Pare should report in its December 31, Year 1, Balance Sheet as investment in Tot is $230,000

7 0

3 years ago

What are the advantage and dis advantage of advertising for a hotel?

Lana71 [14]

Answer:

heres are the pro/advantages and cons/disadvantages of advertising.

Explanation:

Pros Cons

Expands the market Encourages monopolistic control

Increases sales Ad cost might exceed sales

Fights competition Pushes out small businesses

Educates consumers Misleads consumers

please mark me as brainliest

6 0

3 years ago

Mention any three differences between bookkeeping and accounting​

Mention any three differences between bookkeeping and accounting