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3 years ago

Accounting for estimated liabilities LO P4

Business

1 answer:

denpristay [2]3 years ago

5 0

Answer: Please refer to answer

Explanation:

The relates adjusting entries are,

December 31, 2015

DR Vacation Benefit Expense (29*250) $ 7,250

CR Vacation Benefits Payable $7,250

(Accounting for Vacation Benefit Payable)

December 31, 2015

DR Warranty Expense ( (4000*0.06) *12) $2,880

CR Estimated Warranty Liability $2,880

(Accounting for Warranty Liability)

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Answer:

Total cost= $100

Explanation:

Giving the following formula:

Joao pays each of his workers $50 per day while incurring a fixed cost of $100 and a variable input cost of $0.20 per cup of coffee for beans, cream, sugar, and paper cups.

I<u>f he does not hire any workers and does not sell a single cup of coffee, his total cost equals his fixed cost.</u>

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Answer:

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Explanation:

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The information below relates to the Cash account in the ledger of Novak Company.

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Answer:

A) account reconciliation

Bank account reconciliation:

Bank account balance $16,682

+ deposits in transit $4,580

- outstanding checks $2,513

reconciled bank account $18,749

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Cr Cash 555

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Cr Notes receivable 1,623

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3 years ago