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3 years ago

Which three activities are part of the function of accounting?

Business

1 answer:

IgorC [24]3 years ago

4 0

The 3 activities which are part of the function of accounting includes:

Classifying financial transactions
interpreting financial transactions
Recording financial transactions

Accounting (<em>including bookkeeping</em>) refers to the process of recording, preparing, analyzing and interpreting financial information or statements for future purpose.

As regards the options, 3 activities which are part of the function of accounting includes:

Classifying financial transactions
interpreting financial transactions
Recording financial transactions

In conclusion, the process of accounting helps to identifies, records, classifies and communicate the company's economic events to interested users.

Missing word includes <em>"1. prioritizing financial transactions 2. classifying financial transactions 3. planning financial transactions 4. interpreting financial transactions 5. recording financial transactions"</em>

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10. Barbara Inc. is working on its cash budget for June. The budgeted beginning cash balance is $16,000. Budgeted cash receipts

katrin [286]

Answer: $17,000

Explanation:

Given that,

Budgeted beginning cash balance = $16,000

Budgeted cash receipts total = $188,000

Budgeted cash disbursements total = $187,000

Desired ending cash balance = $40,000

The excess (deficiency) of cash available over disbursements for June will be:

= Beginning cash balance + Cash receipts - Cash disbursements

= $16,000 + $188,000 - $187,000

= $17,000

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3 years ago

In previous years, Cox Transport reacquired 4 million treasury shares at $22 per share and, later, 2 million treasury shares at

crimeas [40]

Answer:

$8 million

Explanation:

Weighted-average cost = [(4,000,000 × $22) + (2,000,000 × $25)] ÷ (4,000,000 + 2,000,000) = $23

Increase in paid-in capital - share repurchase per share = selling price —Weighted-average cost = $27 - $23 = $4

Amount of increase in paid-in capital—share repurchase = Number of treasury shares × $4 = 2 million × $4 = $8 million

Therefore, Cox’s paid-in capital - share repurchase will increase by $8 million.

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4 years ago

Jamie’s Bakery, a small chain of eight bakeries in Altamonte Springs, Florida has recorded sales growth of 30 percent or more pe

pantera1 [17]

<h3>Answer:</h3>

Gazelle

<h3>Explanation:</h3>

Jamie's Bakery has recorded a growth of 30% and above from 2010 to 2017 with revenues of $229,000.
This makes Jamie's bakery a gazelle company or business due to the growth of 30% in sales per year for a period of more than four years since it was started in 2010.
Gazelle ventures or business are fast growing and expands at a high rate and thus important to an economy.

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3 years ago

What is a minimum balance? A. The process of balancing your checkbook register against your bank statement B. The largest number

Leno4ka [110]

Answer:

What is a minimum balance?

D. The smallest amount of money you can keep in a bank account

Explanation:

For bank accounts, the minimum balance is the minimum dollar amount that a customer must have in an account to receive some service benefit, such as keeping the account open or receiving interest

3 0

3 years ago

Read 2 more answers

A machine with a cost of $130,000, accumulated depreciation of $85,000, and current year depreciation expense of $17,000 is sold

MissTica

Answer:

Option E: $40,000 - Cash from sale of Machine

Explanation:

Cash flow from Investing activities section of the cash flow statement should include cash received on the sale of property, plant & equipment, cash paid to acquire property, plant & equipment, cash paid for investments in or as loans to other companies and dividends received from any investments.

In case of sale of a Machine, $40,000 received on sale should be reported as source of cash in the cash flows from investing activities section.

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3 years ago