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3 years ago

7

A company sold $12,000 worth of bicycles with an extended warranty. it estimates that 2% of these sales will result in warranty

work. the current period's entry to record the warranty expense is:

1 answer:

Otrada [13]3 years ago

7 0

I think the answer for your question you have to divide then you get 6,000

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Assume the following sales data for a company: Year 2 $684,000 Year 1 $600,000 What is the percentage increase in sales from Yea

docker41 [41]

Answer:

The correct answer is 14%

Explanation

Year 1: $600,000

Year 2: $684,000

Year 2 ($684,000) - Year 1 (600,000) = $84.000

Method "Rule of three" or Cross multiplication

$600,000------100%

$84,000-------- ?

$84,000 x 100= 8,400,000 then you divide the answer into $600,000

8,400,000/600,000= 14%

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3 years ago

Spalding Pointers Corporation expects to begin operations on January 1, year 1; it will operate as a specialty sales company tha

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Answer:

Amoun of sales Revenue for the first quarter of 2019

Jan $120,000

Feb ( 120,000*1.05) 126,000

March ( 126,000* 1.05) <u>132,300</u>

<u>378,300 </u>

<u> Cash Receipt schedule for the first quarter of 2019</u>

Jan Feb March

Jan sales $84,000 24,000 12,000

Feb sales - 88,200 25,200

March sales <u> - </u> <u> - </u> <u>92,610</u>

<u>84,000</u> <u> 112,200</u> <u>129,810</u>

<u />

<u>Amount of Account Receivable as of MArch 2019</u>

Feb sale 10%* 126,000 $12,600

March sales( 20%* 132,300) + (10%*132300) <u>39,690</u>

<u> 52,210</u>

Explanation:

cash receipt

Jan Sales : Jan 70% * 120,000 = 84,000

feb 20%* 120,000 = 24,000

March 10% * 120,000 = 12,000

Feb sales : Feb 70%*126,000 = 88,200

March 20% * 126,000 = 25,200

April 10%* 126,000 = 12,600

March sales : March 70%* 132300 = 92,610

April 20%*132300 = 26,460

May 10%*132300 = 13,230

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Answer: False

Explanation:

The statement in the question that a classified income statement has four major sections which are the operating revenues, cost of goods sold, operating expenses, and non-operating revenues and accounts receivables is not true.

It should be noted that a classified income statement is made up of the revenue, the expenses and the non operating revenues and expenses.

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Line item veto, its the power to strike out individual items in the state budget

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Explanation:

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2 years ago

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