Answer:
$25,000
Explanation:
1% of TVs will be defective and the company will spend $250 to repair them.
Total warranty expense during July = 10,000 TVs sold x 1% x $250 = $25,000
July 31, warranty expense:
Dr Warranty expense 25,000
Cr Warranty liability 25,000
The balance of the warranty liability account at the end of July will be $26,000 - $18,000 + $25,000 = $33,000
Answer:
brand extension
Explanation:
In simple words, When a business puts one of its recognized brand identities on such a new commodity or new specific product, this is known as a brand extension. A brand expansion may help a firm attract new populations, grow its client base, improve sales, and raise overall profitability if it is effective.
Thus, the process in the question will be termed as brand or business extension.
Answer:
B. journals and books (and e-journals or e-books on the web)
Explanation:
magazines are usually opinions
Answer:
B. Unmodified opinion or qualified opinion.
Explanation:
Unmodified opinion is often called a clean opinion, an unmodified opinion is an audit report that is issued when an auditor determines that each of the financial records provided by the entity is free of any misrepresentations. In addition, an unmodified opinion indicates that the financial records have been maintained in accordance with the standards known as Generally Accepted Accounting Principles (GAAP).
On the other hand, a qualified opinion is when a company’s financial records have not been maintained in accordance with GAAP but no misrepresentations are identified, an auditor will issue a qualified opinion.
Answer:
a) The Maximum Liam should be willing to pay is $23,089
Explanation:
The maximum amount Liam should be willing to pay for the investment is the present value of the future amount of 52,000 discounted at 7%.
The present value of a future sum is its worth in today's terms.This represents how much Liam should be offered now to make him indifferent about the choice of receiving $52,000 in the future.
For example, It is the amount that should be invested today at 7% to become $52,000 in 12 years time.
The present value (PV) of a future sum (FV) can be ascertained using the formula below:
PV = FV × (1+r)^(-n)
PV = 52,000× (1+0.07)^(-12)
= 52,000×0.4440
= 23,088.62
= $23,089
The Maximum Liam should be willing to pay is $23,089