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liubo4ka [24]
3 years ago
6

True or False. Expense for a quality-assurance warranty is recorded along with the related liability in the reporting period in

which the product under warranty is sold.
Business
1 answer:
Novosadov [1.4K]3 years ago
5 0

Answer:

True

Explanation:

Whenever a company sells products that may generate warranty expenses, it must estimate the warranty expenses associated with the products sold.

It must credit a warrant liability account, and as the warrant claims are made, the company must debit a warranty expense account.

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Corner Supply has a current accounts receivable balance of $246,000. Credit sales for the year just ended were $2,430,000. How m
Wewaii [24]

Answer:

See below

Explanation:

Given the above information, the average debtor days is computed as seen below.

= Total receivables / Credit sales × 365

Total receivables = $246,000

Credit sales $2,430,000

Then,

Average debtor days

= $246,000 / $2,430,000 × 365

= 36.95 days

Hence, it would take 36.95 days on the average for credit customers to pay off their debts during this past year

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2 years ago
From 2007 to 2012, the u.s. personal savings rate rose. if the additional savings were not translated into investment, keynes wo
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3 years ago
You are the manager of a theater. At present the theater charges the same admisssion price of $8 to all customers, regardless of
Goshia [24]

Answer:

Explanation:

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7 0
3 years ago
Equilibrium is defined as:
Mamont248 [21]
<span>The answer is d. quantity demanded equals quantity supplied</span>
5 0
3 years ago
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This is a function of money in which any commodity- such as gold or currency- can be saved for later use.
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I think it is Store Of Value. 
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