1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
11Alexandr11 [23.1K]
3 years ago
15

During December, Far West Services makes a $2,200 credit sale. The state sales tax rate is 6% and the local sales tax rate is 2.

5%. Record sales and sales tax payable. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)Record journal entry for sales and sales tax.2. Sony introduces a new compact music player to compete with Apple's iPod that carries a two-year warranty against the manufacturer's defects. Based on industry experience with similar product introductions, warranty costs are expected to be approximately 1% of sales. By the end of the first year of selling the product, total sales are $29.6 million, and actual warranty expenditures are $160,000. What amount (if any) should Sony report as a liability at the end of the year? (Enter your answers in dollars, not in millions.)Warranty liability is......
Business
1 answer:
klasskru [66]3 years ago
3 0

Answer:

This long of a question for onmly 10 points? But ill answe rit anyway. 48000299 the 200

Explanation:

You might be interested in
What is it called when <br> Money can be saved whereas goods often cannot
enot [183]

Answer: reverse paradox of thrift I believe

3 0
2 years ago
Read 2 more answers
Kaylor Equipment Rental paid $75 in dividends and $511 in interest expense. The addition to retained earnings is $418 and net ne
VladimirAG [237]

Answer:

$1,269.46

Explanation:

Earnings Before Interest and Tax (EBIT) refers to the net income which is a difference between the revenue of an organisation and the expenses that were incurred in order to generate that revenue. The calculation of the EBIT is usually for a particular year and it is usually found in the Income Statement part of an organisation's financial statement.

To calculate the EBIT therefore, the Tax as well as interest must be added back to the Net Income after tax (usually added to retained earnings)

Therefore, Net Income = Dividends paid + Net Income (added to retained earnings)

= $75 + $418 = $493 - This represents a partial net income

The next step is to calculate the taxable income as follows:

The net income is $493, and the Tax rate is 35%

Taxable Income = $493/ (1-0.35) = $758.46

Earnings before interest and tax therefore =

Interest paid + Taxable Income

= $511 + $758.46 = $1,269.46

7 0
3 years ago
On July 28, Vent Corp. sold $500,000 of 4%, eight-year subordinated debentures for $450,000. The pur­chasers were issued 2,000 d
KengaRu [80]

Answer: Vent should record $70,000

Explanation:

The requirement is to determine the amount of discount on the debentures that Vent should record at issuance.

ASC Topic 470 states that the proceeds from the issuance of debt with detachable stock warrants should be allocated between the bonds and the warrants based upon their relative fair values at the time of issuance.

In this case, the fair value of the bonds is not known, but the fair value of the warrants is $10 per warrant. Thus, the total fair value of the warrants is $20,000 ($10 × 2,000 warrants). The fair value of the debentures can be estimated to be $430,000 ($450,000 total proceeds – $20,000 fair value of warrants). The face value of the bonds $500,000 less the fair value of the bonds of $430,000 equals the bond discount of $70,000.

6 0
3 years ago
The school of philosophy that acknowledged the gods but taught that they had no influence on human life and that the principle g
NNADVOKAT [17]

Answer:

The correct answer is letter "B": Epicurus.

Explanation:

Greek philosopher Epicurus (341 b.C. - 270 a.C.) was immortalized in the Latin poem "<em>On the nature of things</em>" -Lucrecio- in which Epicurus is attributed that the object of wisdom is to suppress the obstacles that oppose to happiness. This does not imply the pursue of unbridled pleasure, but of a measured lifestyle in which the spirit can enjoy friendship and the cultivation of knowledge.

5 0
2 years ago
________ is a type of theatre in which sketches and vignettes alternate with musical numbers, but no single story carries throug
harkovskaia [24]
HaDhgshncb bjjhjhhhhhh
8 0
3 years ago
Other questions:
  • Gerald took a break while two of his coworkers completed a task that all three of them volunteered for. This shows a lack of ___
    14·1 answer
  • Suppose Dee's just acquired the assets of Flo's Flowers. The book value of Flo's Flowers assets was $68,000 but Dee's paid a tot
    7·1 answer
  • In a simplified banking system where deposits are the only form of money and the reserve ratio is 0.2, the deposit multiplier wo
    15·1 answer
  • What is competitive advantage and how does it relate to a company’s business mode?
    10·1 answer
  • Heidi's Accessories bought 50 necklaces for $10 each on account. The invoice included a 6% sales tax and payment terms of 2/10,
    9·1 answer
  • Higado Confectionery Corporation has a number of store locations throughout North America. In income statements segmented by sto
    5·1 answer
  • The relationship between output and labor in a model holding capitalstock fixed is known as the:a. aggregate production function
    12·1 answer
  • Batista Company management wants to maintain a minimum monthly cash balance of $19,100. At the beginning of April, the cash bala
    15·1 answer
  • Walter worked nights as a clerk in a fast-food store. On his last work shift, Walter's boss told him, "I'm really grateful for t
    5·1 answer
  • a debt of $1,000 is incurred at t 5 0. What is the amount of four equal payments at t 5 1, 2, 3, and 4 that will repay the debt
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!