Federal Government collects excise taxes
I think! not 100% sure
Foundation. Motivation represents "those psycholigical proccesses that cause the arousal,direction, and persistence of voluntary actions that are goal directed."
Answer:
(a) 5.41 times
(b) 3.48 times
Explanation:
(a) Accounts receivable turnover for 2017:
= 5.41 times
Working:
= 462,500
(b) Inventory turnover for 2017:
= 3.48 times
Working:
= 575,000
Answer:
The answer is
Dr Warranty Expense $3,520
Cr Estimated Warranty Liability $3,520
Explanation:
Warranty expense is a contingent liability and it is defined as liabilities that may be incurred by a firm or business depending on the outcome of an uncertain future circumstance.
Current sales = $176,000
Warranty expense = $3,520(2% of $176,000).
The rule: Debit increases assets and expenses while credit reduces it.
Credit increases equity(stock), sales(revenue) and liabilities while debit reduces it.
Therefore the period entry is
Dr Warranty Expense $3,520
Cr Estimated Warranty Liability $3,520
