Answer:
the journal entry to record warranty expense is:
Dr Warranty expense 30,000
Cr Warranty liability 30,000
the journal entry to record actual expenses related to product warranties:
Dr Warranty liability 10,000
Cr Cash (or inventory, or wages payable) 10,000
Depending on what type of costs are incurred by the company, the account credited will vary, e.g. if units are replaced, then inventory must be credited, or if units are repaired and only labor is used, then wages payable or cash should be credited. Since the question doesn't give us a lot of details, I credited cash.
Answer: web community
Explanation:
Web community is also called an internet community, it is a virtual community whose members interact with each other primarily through the Internet.
Answer:
$7,000 is the amount of revenue in year 1
Explanation:
The amount received from the customer is $24,000,which is payment for work to be performed over 24-month period i.e 2 years
In year 1,the work would be performed from June -December,hence 7-month worth of revenue should be recognized in year 1 as follows
revenue recognition in year=$24,000*7/24=$7,000
The amount of revenue attributable to year 1 on the income statement is $7,000
Correct answer choice is:
D. Accident investigation.
Explanation:
An accident investigation is a method of concluding the source cases of accidents, on-the-job damages, resources destruction, and alike notes in classification to stop them from happening repeatedly.
When conflicts are reviewed, the importance should be focused on determining the root reason of the occurrence so you can block the event from occurring again. The goal is to find evidence that can direct to remedial activities, not to determine responsibility. Constantly look for distant causes.
Alice is willing to spend $30 on a pair of jeans, and has a coupon for $10 off she found online. She selects and purchases a $35 pair of jeans, pre-discount.
(Alice's consumer surplus, $5)
<span>Jeff finds some steaks for $16 for which he would have been willing to pay $20. The butcher notices the meat is near the expiration date and gives him an extra 75% off. </span>
(Jeff's consumer surplus, $16)
<span>Nicole has in her possession a hockey puck from the 2010 Winter Olympic Games and sells it on eBay. She will only sell the puck if the winning bid is greater than or equal to $500. After bidding closes, the last bid stands at $500. </span>
(Nicole's producer surplus, $0)
<span>Claire is trying to sell her used calculus textbook online. She asks for $150 or best offer and is willing to sell for anything over $100. She is able to sell it for $125. </span>
(Claire's producer surplus, $25)
<span>Roy is willing to pay $2.50 for a sports drink. He notices the price is $2.79 and chooses not to purchase a sports drink. (Roy's consumer surplus, $0)</span>
