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Firdavs [7]
3 years ago
12

Boyd's Bicycle Sales and Repairs Co. offers a 6-month warranty on all new bicycle purchases. Based on history, Boyd determines t

hat warranty repairs are equal to approximately 2% of sales. During the month, Boyd sales total $20,000. Boyd will record Warranty Expense in the amount of ______ for the month.
Business
1 answer:
guapka [62]3 years ago
4 0

Answer:

Boyd will record Warranty Expense in the amount of $400 for the month.

Explanation:

Warraty expense is an obligation on the business because business idmliable to accept the claims of warranty. A estimated percentage of warranty expense is charges as an expense in each period.

Sales = $20,000

Warranty repair = 2% of Sales

Warranty Expnese = Sales x Warranty repairs percentage

Warranty Expnese = $20,000 x 2%

Warranty Expnese = $400

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Your coworker makes a comment about a blouse you are wearing. The comment makes you very uncomfortable. This is an example of:
dimulka [17.4K]
B. harassment. you cowork has no business commenting on your clothes
6 0
2 years ago
Why is developing a reputation as a subject matter expert important for a leader if leadership deals so heavily with interperson
Lilit [14]

Answer:

Reputation is very important for a leader. If a leader has god interpersonal skills but lacks in good reputation people might hesitate to associate with him and support his activities.

Explanation:

Reputation is most valuable asset for any leader. A leader may have good knowledge of everything, he may have good interpersonal skills but reputation overcomes all of these qualities. Strong reputation of a leader will make it easy for him to earn popularity and respect among people. Reputation is the main quality which leads to success to a leader.

5 0
3 years ago
While she was travelling, Zainab took advantage of the convenience of cash withdrawals on her credit card since her Canadian deb
Dvinal [7]

1. Zainab's total bill when she got home will be <u>$3,703.33.</u>

2. The total interest paid is <u>$28.33</u>.

<h3>What is a credit card?</h3>

A credit card is a payment card that enables the cardholder to make purchases charged to a line of credit instead of the account holder's cash deposits. The credit card account accrues interest periodically (most ideally, daily) and payment may be required each month to offset the balance.

<h3>What is Future Value?</h3>

The future value is the amount that will be due on an investment or payment after compounding interest for a future date.  The future value can be computed with the formula below.

FV = PV(1+r)^n

Where:

FV = future value

PV = present value

r = annual interest rate

n = number of periods interest held

The future value can also be calculated using an online finance calculator as follows:

<h3>Data and Calculations:</h3>

Annual interest rate = 28%

Daily interest rate = 0.0767 (28%/365)

N (# of periods) = 21 days

I/Y (Interest per year) = 28%

PV (Present Value) = $0

PMT (Periodic Payment) = $175

P/Y (# of periods per year) = 365 days

C/Y (# of times interest compound per year) = 365 days

<u>Results</u>:

FV = $3,703.33

Sum of all periodic payments = $3,675.00 ($175 x 21)

Total Interest = $28.33

Thus, Zainab's total bill is $3,703.33 with an interest of $28.33.

Learn more about future value (total bill) at brainly.com/question/24703884

7 0
2 years ago
ABO purchased a truck at the beginning of 2018 for $140,000. They sold the truck at the end of 2019 for $95,000. If the expected
kompoz [17]

Answer:

Therefore, the entry to record the sale of the truck involves B. Debit Loss $5,000.

Explanation:

First determine the Accumulated depreciation on the Truck

Depreciation Expense = Cost - Residual Value / Estimated Useful years

                                     = ($140,000 - $20,000) / 6

                                     = $20,000

Accumulated Depreciation :

2018 : $20,000

2019 : $20,000

Total : $40,000

Then Process the Sales journal to determine the profit or loss on sale of Truck as follows :

Accumulated Depreciation $40,000 (debit)

Cash $95,000 (debit)

Profit and Loss $5,000(debit)

Cost : Truck $140,000 (credit)

Conclusion :

Therefore, the entry to record the sale of the truck involves B. Debit Loss $5,000.

5 0
3 years ago
Hardware is adding a new product line that will require an investment of $ 1 comma 450 comma 000. Managers estimate that this in
ozzi

Answer:

6.83%

Explanation:

The computation of the accounting rate of return is shown below:

As we know that

Average accounting rate of return = Average annual operating income ÷ Initial Investment

where,

Average annual operating income is

Year 1 net cash inflow           $320,000

Year 2 net cash inflow          $280,000

Years 3-10 ($230,000 × 8)    $1,840,000

Total net cash flows                $2,440,000

Less: Total depreciation      ($1,450,000)

                                              $990,000

Divided it by years of life         ÷ 10  years

Average annual operating income $99,000

So,

Average accounting rate of return is

= $99,000 ÷ $1,450,000

= 6.83%

6 0
3 years ago
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