If Inez is not satisfied with the painting by Josh, Inez does not have to accept the portrait or pay Josh any money. Inez does not have to pay Josh at all.
Answer:
warranty expense 10,400 (260,000 x 4%)
warranty liablity 10,400
warranty liability 150
wages payable 50
inventory 100
Explanation:
we recognize the expected warranty expense at the moment of the sale.
Then expenses associate with the warranty will decrease the prevision "warranty liability"
The part used come from the company's inventory
and the wages for work on the product, will have to be paid.
<u>Note: </u>it could be cash directly instead of using wages payable account. But because there is no information about those wages being paid I assume are not.
Answer:
I would say B would be the best answer.
Explanation:
You shouldn't try to push it onto yourself to fix, the owner/manager to fix the problem!
When boating on a river, you might encounter these strainers and the danger of these strainers is that they can possibly trap your boats and throw the passengers out of the boat. Strainer is the term that describes anything that obstructs the way in the river such as logs, or wire fence.
From the viewpoint of an outsider, an non-owner and an consultant which is a replacement analysis is most objectively conducted. When you are conducting a replacement analysis the most objectively conducted is from the view point of the three which is from an outsider, an consultant and an non-owner.
