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WINSTONCH [101]
2 years ago
12

The difference between accounting profit and economic profit is.

Business
1 answer:
Vadim26 [7]2 years ago
7 0

Answer:

Accounting profit - Your actual profit

Economic profit - Profit, but opportunity cost factored out

Explanation:

Accounting profit is how much you made (Revenue - Explicit Cost.

Economic profit includes implicit costs, or opportunity cost. If you could have made $100,000 at a different job, you subtract that. If Accounting-Economic profit is 0 or higher, you should stay in business.

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Havermill Co. establishes a $250 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated recei
d1i1m1o1n [39]

The journal entry to record the increase in the fund balance on October 1 has been recorded by debiting the petty cash and crediting the cash with $50.  

Further explanation:

Petty cash fund: It refers to the fund established for paying the small amount of expenditures which are incurred on a daily basis. The petty cash fund is suitable for small payments where the check is not useful.

Journal entry: The journal entry is the mode of recording the transactions of the business in the general journal. The transactions are recorded as per debit and credit balances. The transactions are recorded according to date and time.

The journal entry to record the increase in the fund balance on October 1:

Date Accounts Title and Explanation Post Ref. Debit ($) Credit ($)

1-Oct Petty Cash                                                       50  

                     Cash                                                                          50

 (to record the increase in fund balance on October 1)      

The balance of petty cash is debited as it is an asset. The cash has been credited as it has been transferred to the petty cash fund. Thus, the journal entry has been passed by debiting petty cash and crediting cash with $50.

Learn more

1. Average cost and average revenue brainly.com/question/12987402

2. Direct materials efficiency variance brainly.com/question/12987884

3. Cost of materials

brainly.com/question/4783765

Answer details  

Grade: Middle School

Subject: Fundamental Accounting

Chapter: Journal entries

Keywords: Havermill Co., $250 petty cash fund, miscellaneous expenses, $250 petty cash fund, the fund has a balance of, on September 30, the fund is replenished, $137 for merchandise inventory, the journal entry to record, accumulated receipts, office supplies, accountant determines that fund has a balance of $18,  fund should be increased by $50, October 1, date represents.

8 0
3 years ago
Inventing a new soft drink - what would be the input - the conversion, and the output?
scZoUnD [109]

Inventing a new soft drink  -what would be the input - the conversion, and the output?

The input would be the taste/flavor of the new soft drink. When inventing something new, you need to figure out something that will give it a distinct difference over competition. After you have established what you want it to taste like, you need to make the receipe and try it to make sure you like it and can replicated it for consumers. Once the drink has been made for test tasting, having people try the drink will establish whether or not they want to purchase the drink. Once the entire drink has been through the processes of test tasting, if there is good feedback it's time to put the product on the the self as the output.

4 0
3 years ago
Read 2 more answers
Which of the following skills do employers in any field expect their employees to have?
Daniel [21]

Answer:

D. Ability to provide a healthy work environment

Explanation:

Every employee should provide a healthy work environment in the workplace.  A healthy work environment is not limited to hygiene issues but extends to works ethics.

Employers will seek employees who are team players.  The employees should be self-motivated, productive, happy, and should be acceptable by team members.

Poor hygiene and poor organization can have adverse effects on the entire team. It will affect communication and general wellness in the workplace.

A good team player will work in any field. The other options in the questions relate to specific careers.

6 0
3 years ago
The greatest amount of foreign exchange trading takes place in the following three cities:
irina1246 [14]

Answer:

The correct answer is letter "A": New York, London, and Tokyo.

Explanation:

New York City is still considered the world center for <em>foreign exchange</em> (forex) trading only followed by London and Tokyo. The main currencies being traded are the <em>U.S. dollar (USD), Euro (EUR) </em>and <em>the Japanese yen (JPY)</em>. Some analysts believe soon the <em>Chinese renminbi (CNY)</em> will take an important place among the previously mentioned three currencies.

8 0
3 years ago
2. If information is disseminated, what happens to it?
Molodets [167]

Answer:

b

Explanation:

by definition, disseminate means to distribute or broadcast information

4 0
3 years ago
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