The term ___________ is a popular way to describe the recession-expansion pattern followed by the economy.

A company switched from the cash basis to the accrual basis for recognizing warranty expense. The unrecorded liability for warra

Murrr4er [49]

Answer:

Report a prior period adjustment decreasing retained earnings by $1,365,000.

Explanation:

Going by the question we can derive that $2,100,000 is the prior period's warranty. Consequently, it will be charged to the current year's earnings following the deduction of tax, 35%.

(2,100,000 *65) /100 = $1,365,000

This above calculation is so because Under the accrual basis of accounting...operating expense are reported on the income statement in the particular period when they took place or when they expire

4 0

3 years ago

Read 2 more answers

CrossCountry Trucking & Transport enters into a contract with Discount Outlet Stores to load, transport, deliver, and unload

Mila [183]

Answer:

C) tender.

Explanation:

In contract law, a tender offer to perform is conditioned to the moment when the other party is willing and ready to perform as well. In this case, CrossCountry signed a contract, but the contract will be valid when the other party (Discount Outlet Stores) needs their services. If the other party does not require their services, CrossCountry is not able to perform nor demand performance.

6 0

3 years ago

Brilliant Accents Company manufactures and sells three styles of kitchen faucets: Brass, Chrome, and White. Production takes 25,

stepan [7]

Answer:

1. Using the ABC system, for each style of faucet, compute the estimated overhead cost per unit.

Brass = [(30 x $4,900) + (900 x $150)] / 30,000 units = $9.40 per unit

Chrome = [(25 x $4,900) + (1,000 x $150)] / 50,000 units = $5.45 per unit

White = [(40 x $4,900) + (800 x $150)] / 40,000 units = $7.90 per unit

2. Compute the estimated operating profit per unit.

Brass = $40 - $8 - $15 - $9.40 = $7.60

Chrome = $20 - $4 - $3 - $5.45 = $7.55

White = $30 - $8 - $9 - $7.90 = $5.10

Explanation:

cost per setup = $465,500 / 95 = $4,900 per setup hour

cost per inspection = $405,000 / 2,700 = $150 per inspection hour

BRASS CHROME WHITE

Projected sales in units 30,000 50,000 40,000

Per unit data: Selling price $40 $20 $30

Direct materials $8 $4 $8

Direct labor $15 $3 $9

Setup hours 30 25 40

Inspection hours 900 1,000 800

4 0

3 years ago

exercise 4-9A Calculate the balance of cash using a bank reconciliation (LO4-5) Spielberg Company's general ledger shows a check

algol13

Answer:

$22,789

Explanation:

One of the uses of the Bank Reconciliation Statement is to check the accuracy of the Cash Balance.

The Balance on the Bank Statement and that of the Cash Book in the Ledgers should always agree.

Bank Reconciliation Statement as a July 31

Balance as per Bank Statement $22,364

Add Lodgments not yet credited $1,745

Less unpresented checks ($1,320)

Balance as per Cash Book $22,789

Therefore,

The balance of cash using a bank reconciliation is $22,789

5 0

3 years ago

Periodically, merrill lynch customers are asked to evaluate merrill lynch financial consultants and services. Higher ratings on

padilas [110]

a) Null hypothesis ( $\mu _{a} \leq \mu _{b}$ ) for merrill lynch customers are given as

Alternative hypothesis: $\mu _{a} > \mu _{b}$

$t =\frac{6.82-6.25}{\sqrt{\frac{0.64^{2}}{16}} + \sqrt{\frac{0.75^{2}}{10}} }$

t = 1.992

<h3>What is null hypothesis?</h3>

Conjectures used in statistical tests, which are formal techniques for drawing conclusions or making judgments based on data, include the null hypothesis and the alternative hypothesis.
The hypotheses, which are based on a sample of the population, are suppositions regarding a statistical model of the population. The tests are essential components of statistical inference and are frequently used to distinguish between statistical noise and scientific claims when interpreting experimental data in science.
The null hypothesis, which is the statement being tested in a test of statistical significance, is typically a declaration of "no effect" or "no difference," and the test of significance is intended to evaluate the strength of the evidence against it

Know more about Null hypothesis

brainly.com/question/19263925

#SPJ4

3 0

2 years ago