Ask question

Ask question

All categories

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

You might be interested in

JPL Company has two segments - Retail and Commercial. The Retail segment has a contribution margin ratio of 40% and traceable fi

kakasveta [241]

Answer:

The break-even point in dollar sales for the Retail segment equals to $175,000

Explanation:

Break-even point is the point of sales where the business incur no profit and no loss. Business fulfills all the variable and fixed cost requirements at this point.

Retail segment

Contribution margin ratio = 40%

Fixed Expense = $70,000

Break even sales revenue = Fixed cost / Contribution margin ratio

Break even sales revenue = $70,000 / 40%

Break even sales revenue = $175,000

7 0

3 years ago

Sally has seen such great interest in her scented candles that she has decided to start her own small business selling them. Sal

Svetradugi [14.3K]

Answer: True

Explanation:

Sally by taking her business to the internet can now be able to reach a global customer base, therefore this increases her business scope.

This implies she can now reach the same wide range of distribution of customers with a her small business as large companies could, by simply creating a website for her business and placing it on the world wide web.

5 0

2 years ago

Diminishing marginal utiliDiminishing marginal utility means that A. the price of two hamburgers is twice the price of one. B. t

4vir4ik [10]

Answer: C beyond a certain point, total utility decreases as income rises

Diminishing marginal utility means that beyond certain point, the total utility from consuming a good decreases, and increasing its consumption monotonically, makes that every additional unit of consumption delivers less utility each time.

This is because most behavioral consumers models try to emulate the principle of scarcity: the less available units of a good, the more it values.
Then, an increasing income would allow us to buy more and more goods, and because of the existance of diminishing marginal utility, we would get less utility from consuming additional units of every goods each time.
As an <u>example</u>,one could think about eating chocolate. The first bar would give us much happiness (utility), but increasing the number of bars consumed would eventually vanish this "happiness".

5 0

3 years ago

Read 2 more answers

On January 1, 2012, Gucci Brothers Inc. started the year with a $492,000 balance in Retained Earnings and a $605,000 balance in

dsp73

Answer:

option (C) $1,201,300

Explanation:

Data provided in the question:

Balance in retained earnings = $492,000

Balance in Common Stock = $605,000

Net income earned = $92,000

Dividend paid = $15,200

Common stocks issued = $27,500

Now,

Common Stock

= Balance in Common Stock + Common stocks issued

= $605,000 + $27,500

= $632,500

Retained Earnings

= Balance in retained earnings + Net income earned - Dividend paid

= $492,000 + $92,000 - $15,200

= $568,800

Total Stock Holders Equity on Dec 31,2012

= Common Stock + Retained Earnings

= $632,500 + $568,800

= $1,201,300

Hence,

The answer is option (C) $1,201,300

4 0

3 years ago

A leftward shift in the supply curve for a good may be caused by any of the following except A. consumer expectation of an incre

nydimaria [60]

Answer: A. consumer expectation of an increase in their future income.

Explanation:

The supply curve is simply a graph that shows the relationship that is between the price of a particular good and the amount of quantity that is supplied.

A leftward shift in the supply curve for a good simply means that less of that good is supplied. All tye options will cause less of the goods to be supplied except consumer expectation of an increase in their future income.

3 0

3 years ago

Read 2 more answers