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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

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A firm has a profit margin of 12 percent; total asset turnover of 0.55 and an equity multiplier of 2.2. What is the firm's ROA a
lutik1710 [3]

Answer:

ROA = 6.6%

ROE 14.52%

Explanation:

profit margin = net income / sale = 12%

assets turn over = sales / assets = 0.55

equity mutiplier = assets / equity = 2.2

ROE = return on equity = net income / equity

ROA = return on equity = net income / assets

we use the fraction properties to get ROE and ROA

\frac{income}{sales} \times \frac{sales}{Assets} =\frac{income}{Assets} \\ 0.12 \times 0.55 = 0.066\\

ROA = 6.6%

We apply the same property to get ROE

\frac{income}{assets} \times \frac{assets}{equity} =\frac{income}{equity} \\ 0.066 \times 2.2 = 0.14252\\

ROE = 14.52%

6 0
3 years ago
Who would be a member of the American Dental Assocoiciation
mario62 [17]

Answer:

The American Dental Association (ADA) is the professional association of dentists dedicated to serving both the public and the profession of dentistry. This association was founded by William Henry Atkinson. A retired dentist would be a member of the American dental association because he/she is still a dentist and can contribute to promoting public's health by providing quality oral health care. Correct answer: B

Explanation:

edge2020

6 0
3 years ago
A peer-review board for alternative dispute resolution usually consists of: A. an equal number of employee representatives and m
kow [346]

Answer:

The answer is option A) A peer-review board for alternative dispute resolution usually consists of: an equal number of employee representatives and management appointees

Explanation:

Alternative dispute resolution is an affordable, less time consuming and less formal way of settling workplace disputes. To achieve this feat, a peer review board is constituted.

A peer review board usually consists of employers and management appointees and it could be a voluntary decision on their art to participate.

The pool of individuals nominated to be part of  the peer review board is considered objective and unbiased in their assessment of the issue to be resolved. They are also deemed skillful in the art of listening and arbitration.

8 0
3 years ago
The accounting cycle starts with a.closing out the periodic accounts. b.recording the transaction based on the information in a
saul85 [17]

Answer:

letter b, recording the transaction based on the information in a source document

Explanation:

The "Accounting Cycle" follows a series of steps in order to assist the accounting transactions of a company or business. It starts with the "Transaction step" <em>(the first step</em>) where<u> </u><u><em>the source documents have to be examined in order to analyzed transactions.</em></u> This also includes the recording of the transaction in the journal.

This step is followed by <em>Posting the Entries into the Ledger Accounts, Preparing the Unadjusted Trial Balance, Adjusting the Journal Entries, Preparing the Adjusted Trial Balance, Recording Reversing Entries, Preparing Post-Closing Trial Balance, Record Closing of Entries and Preparing Financial Statements.</em>

6 0
3 years ago
Write a paragraph summary of the history of credit and consumerism
ollegr [7]

Answer:

Credit was invented by Mr A Smith (of bank note fame) to allow parents to top-up teenagers phones. This was viewed as particularly important since without it they would be unable to cheat on their homework.

Explanation:

Do I really need to explain such an egregious answer

7 0
3 years ago
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