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mihalych1998 [28]
3 years ago
7

Splish Company sells a machine for $7,220 with a 12-month warranty agreement that requires the company to replace all defective

parts and to provide the repair labor at no cost to the customers. With sales being made evenly throughout the year, the company sells 740 machines in 2017 (warranty expense is incurred half in 2017 and half in 2018). As a result of product testing, the company estimates that the warranty cost is $446 per machine ($202 parts and $244 labor). Use "Inventory" account to record the warranty expense. Assuming that actual warranty costs are incurred exactly as estimated, what journal entries would be made relative to the following facts?
Business
1 answer:
storchak [24]3 years ago
3 0

Answer:

Explanation:

Had to use microsoft word in other to be able to arrange the solution properly. And i hope it helps you. Thank you

Download docx
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Inventory records for Dunbar Incorporated revealed the following: Date Transaction Number of Units Unit Cost Apr. 1 Beginning in
Effectus [21]

Answer:

The correct answer is B.

Explanation:

Giving the following information:

Apr. 1: Beginning inventory of 490 units for $2.16

Apr. 20: Purchase 420 units for $2.63

Dunbar sold 570 units of inventory during the month.

Under LIFO (last-in, first-out) method, the ending inventory is integrated by the first units incorporated into inventory.

First, we need to calculate the number of units in inventory:

Ending inventory in units= total units for sale - units sold

Ending inventory in units= (490 + 420) - 570= 340 units

Ending inventory ($)= 340*2.16= $734.4

7 0
4 years ago
why might a bank offer to make a loan to a consumer at a low initial rate which will increase after a set period of time?a. too
Whitepunk [10]

I believe the answer is: c. to make the loan look more attractive and competitive now

By offering it at low initial rate, the people who borrow money would experience low burden if they plan to return the money within short period of time. This would make them much more likely to obtain a loan, and it also would make the bank that create the loan program looks better compared to their competitors.

8 0
3 years ago
Country x would have an absolute advantage over country y in the production of automobiles under what conditions?
Paul [167]
Under the condition that country X can manufacture cars more cheaply. An absolute advantage devours in a country if it makes good over alternative country and uses a smaller amount of wealth to yield that good. The result of a country’s natural legacy is the absolute advantage. Another example is extracting oil in Saudi Arabia is pretty much just a matter of drilling a hole. Generating oil in other countries can is essential substantial exploration and costly technologies for drilling and extraction if certainly they have any oil at all. The United States devours about the richest farmland in the world which manufacture it at ease to grow corn and wheat than in many other countries. Guatemala and Colombia partake environment particularly suitable for growing coffee. Chile and Zambia have about of the world’s richest copper mines. As some have claimed that geography is destiny. Chile will bargain copper and Guatemala will harvest coffee and they will trade. When each country has a product others necessity and it can be manufactured with fewer resources in one country over another then it is easy to visualize all parties do good from trade. Thinking about trade just in relations of geography and absolute advantage is incomplete. Trade actually happens because of comparative advantage.
4 0
3 years ago
Read 2 more answers
This is a sum of numbers that accumulates with each iteration of a loop. A. Running total B. Final total C. Grand finale D. Gall
kicyunya [14]

Answer:

The correct answer is A. Running total.

Explanation:

The accumulated total can be expressed as a numerical value or a percentage. In Reporter reports, you can calculate a cumulative total for more than one category.

For example, you can create a report that shows the income for each of the last four quarters. The accumulated total will show the total income at the end of each quarter. If you add a cumulative total as a percentage of the total sold, you can see the percentage of year-round sales achieved at the end of the quarter.

7 0
3 years ago
Kenneth, the CEO of Dewberry Inc., is very particular about establishing and maintaining good interpersonal relations with his e
qaws [65]

Answer:

<em>Need for Achievement.</em>

Explanation:

David McClelland and his colleagues developed the Needs / Achievement Motivation Theory theory of McClelland.

The theory suggests that three needs; <em><u>Need for Power, Success and Affiliation</u></em>-affect human actions.

The desire to succeed, to perform in comparison to a set of norms, to strive to achieve greatness is the need for achievement.

5 0
3 years ago
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