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aalyn [17]
2 years ago
5

Talks-A-Lot, Inc. sells cell phones to customers and expects that 10% of phones sold will be returned for repair under its warra

nty program. The average repair cost is $71 per phone. For 2021, Talks-A-Lot has sold 550 cell phones and has repaired 11 of them as of December 31, 2021. What amount of warranty liability should be reported at December 31, 2021?
Business
1 answer:
Gnom [1K]2 years ago
6 0

Answer:

Product warrant liability to be reported as on 31.12.2021* is $3.124

<em>*The procedures are attached in a microsof excel document. </em>

Explanation:

This amount will be recognized as a liability only if product warranty amount can be rmeasured reliabily and there is probability that there will be an outflow of funds.

Download xlsx
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Examples of company-wide applications, called legacy applications, include order processing systems, payroll systems, and compan
arlik [135]

The given statement "Examples of company-wide applications, called legacy applications, include order processing systems, payroll systems, and company communications networks" is False.

<h3>What is an enterprise application?</h3>
  • A big software system platform known as an enterprise application (EA) is intended to run in a corporate setting, such as a business or government. EAs are mission-critical, complicated, scalable, distributed, and based on components.
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6 0
2 years ago
Hayes Bakery has sales of $30,600,costs of $15,350 an addition to retained earnings of $4221, dividends paid of $469, interest e
rodikova [14]

Answer:

c. $8013.29

Explanation:

The retained earnings is the accumulated net earnings/losses over the period of existence of an entity. This is usually posted to the retained earnings accounted for as part of owners equity on the face of the balance sheet net the dividend paid.

The net income is the difference between the sales and all expenses including depreciation.

Let the depreciation be d

Net income = retained earnings + dividend

= $4221 + $469

= $4,690

$4,690 = 0.79 ($30,600 - $15,350 - $1,300 - d)

The 0.79 being the net of the tax which is the 21% applied on the net of sales and expenses.

d = $13,950  - $5,936.71

d = $8,013.29

3 0
3 years ago
Daniel, Steven, and Chris work as engineers in Connecticut. The demand for engineers starts to decline as their company’s profit
EleoNora [17]

Answer:

cyclically unemployed

Explanation:

The cyclically unemployed refers to the situation when the economy is in recession period that directly impacts the profits of the company

In the given situation, since Daniel, Steven, and Chris work as engineers in Connecticut. Due to the recession, the company profit is declining that results in a decrease in the demand of the engineers.

Therefore this situation represents the cyclically unemployed

7 0
3 years ago
Which of the following is an example of a conditional statement?
statuscvo [17]
The answer is A!!!!!!!!!!!
4 0
3 years ago
Which of the following defines motivation?
Serjik [45]

Answer:

the reason or reasons one has for acting or behaving in a particular way

Explanation:

8 0
2 years ago
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