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
sweet [91]
3 years ago
13

Maas, Inc., sells washers and dryers that include a maximum one-year warranty covering parts. Past experience shows that warrant

y expense averages about 2 percent of the selling price of each washer and dryer. Net sales totaled $400,000 during the year ending December 31. Prepare the December 31 adjusting entry for Maas by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
Business
1 answer:
Assoli18 [71]3 years ago
3 0

Answer:

See explanation section

Explanation:

Journal entry to be recorded -

<em>Debit    Warranty expense          $8,000</em>

<em>Credit   Estimated warranty liability         $8,000</em>

Calculation:

Net sales = $400,000

warranty expenses = 2% of the net selling price.

Therefore, estimated warranty expense = $400,000 × 2% = $8,000

Since, the company does not pay the expenses, a liability arises. Since we are estimating the value from past experience, the liability will be estimated.

You might be interested in
To determine the outcomes of the HR functions at Veranda International, several top-level managers suggest conducting a formal r
ASHA 777 [7]

Answer:

The correct answer is:  HR audit.

Explanation:

An HR audit is the evaluation of the performance of the Human Resources (<em>HR</em>) department and the overall practices that are carried out by the workers in that area. Policies, procedures, documentation, and systems will allow the evaluators to find the department's strengths and points for improvement.

3 0
3 years ago
If a society moves from a period of time with significant unemployment to a time with full employment, its production possibilit
yawa3891 [41]

Answer:

D

Explanation:

The Production possibilities frontiers is a curve that shows the various combination of two goods a company can produce when all its resources are fully utilised.  

The PPC is concave to the origin. This means that as more quantities of a product is produced, the fewer resources it has available to produce another good. As a result, less of the other product would be produced. So, the opportunity cost of producing a good increase as more and more of that good is produced.  

Point outside the curve or to the right of the curve means that the production level is not attainable given the level of resources

Points inside the production possibilities curve means that the nations resources are not being fully utilised

Factors that cause the PPF to shift  

1. changes in technology.  

2. changes in available resources.  

3. changes in the labour force.

Due to the significant unemployment , production would occur at a point inside the curve. When the firm moves to full employment, production would take place on the curve

7 0
3 years ago
A _____ invests capital in startup enterprises for a living.
mario62 [17]

Answer:

A venture capitalist invests capital in startup enterprises for a living.

Explanation:

A venture capitalist is a type of private equity investor. <em><u>They invest in enterprises that show promise. </u></em>It means that there is a high possibility or shows high growth potential.

Venture capitalists fund startup or small enterprises that have a desire to expand their business but don't have the means to do so. Venture capitalists are willing to invest considering the risk because they think about the profit or the return they will get once it succeeded.

4 0
4 years ago
Read 2 more answers
An advertiser wants to create ads that target potential customers in california. which targeting method should this advertiser u
PolarNik [594]
I believe the answer is Location Targeting.
Location targeting help advertisers to provide appropriate advertising that is relevant to the people that live in a certain location.
For example, an advertisement for sunblock products would be much more efficient if it's advertised to the people that live near the beach such as Miami.
5 0
4 years ago
Which of the following types of insurance allows individuals to keep a former employer's group coverage for a set period of time
nordsb [41]

Answer:

group health insurance

6 0
3 years ago
Other questions:
  • Dorsey Co. has expanded its operations by purchasing a parcel of land with a building on it from Bibb Co. for $83,000. The appra
    6·1 answer
  • People have little incentive to produce a public good because
    13·1 answer
  • Which of these job descriptions is least likely to fall under an events manager?
    13·1 answer
  • What are four things you can do during an interview to ensure you project a positive attitude?
    9·2 answers
  • The trial balance columns of the worksheet for Flint at March 31, 2019, are as follows.
    6·1 answer
  • On January 1, 2020, Tamarisk Corporation issued $700,000 of 9% bonds, due in 8 years. The bonds were issued for $740,784, and pa
    10·1 answer
  • Jessica has been very reliable making payments on reasonable loans over the past decade. She has never been late on a payment an
    13·2 answers
  • A club sold 80 boxes of candy, some at $1.75 and some at $3.25. total revenue was $160. an appropriate equation to determine the
    6·1 answer
  • The 2014 balance sheet of Steelo, Inc., showed current assets of $3,135 and current liabilities of $1,545. The 2015 balance shee
    6·1 answer
  • If the nominal interest rate is 6 percent and the rate of inflation is 10 percent, then the real interest rate is:______
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!