Answer:
Soundgarden Company
Journal Entries:
July 10, 2020:
Debit Cash Account (or Accounts Receivable) $800,000
Credit Sales Revenue $800,000
To record the sale of 200 copiers at $4,000 apiece.
July 10, 2020:
Debit Warranty Expense $66,000
Credit Warranty Liability $66,000
To record the estimated warranty maintenance on copiers sold.
December 31:
Debit Warranty Liability $17,000
Credit Inventory $17,000
To record actual warranty costs incurred.
Explanation:
Soundgarden should record these transactions according to the matching principle, whereby warranty expense is recognized in the period that matches the sale so that all expenses related to sales are recognized when the sales are recognized. This is achieved by creating a warranty liability account after the sales and recording a warranty expense as the debit entry. When actual warranty costs are incurred, the Soundgarden Company will debit the warranty liability and credit the inventory actual for the actual costs.
<u>Answer:</u> Option C World event
<u>Explanation:</u>
The labor market which is affected by a man made event that is the world event is known as war. Here in the above case the labor market demand increases when there is war situation between two countries. As the demand for uniforms and weapons increases. This is because the countries require additional resources to prove their strength.
Excess demand for labor exist when there is war. This changes the unemployment situation and any labor with or without skills are hired to meet the demand in the labor market.
The countries involved in the Marshall Plan were mostly United Kingdom and France, however, 18 more countries were helped including Portugal, Turkey, Italy, Austria, Western Germany, the Scandinavian countries, and many more including even countries from Asia, but their plan was called differently and didn't fall directly under the Marshall Plan.
Answer:
$88,000
Explanation:
We know that
The operating profit = Revenues - cost
= $2,600,000 - $2,100,000
= $500,000
If there is increase, so the operating profit would be
= Revenues - cost
where
Revenues = $2,600,000 + $260,000
= $2,860,000
Cost = $2,100,000 + $172,000
= $2,272,000
So, operating profit is
= $2,860,000 - $2,272,000
= $588,000
So, the increase in operating profit would be
= $588,000 - $500,000
= $88,000
The money, if somehow the Fed lowers their discount rate, deciding on monetary policy, open market operations, and purchases
<h3>What does the term "monetary" mean? </h3>
of or pertaining to money or the systems used to supply and move money across an economy. a crime done with the intent to profit. a nation's monetary strategy. monetarily.
<h3>Does monetary refer to money? </h3>
The term "monetary" refers to money, particularly the total quantity of money in such a nation. [Business] To prevent inflation, several nations tighten their monetary policies. Synonyms: economic, financial, money, capital More words for "monetary"
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