Answer:
the journal entry to record warranty expense is:
Dr Warranty expense 30,000
Cr Warranty liability 30,000
the journal entry to record actual expenses related to product warranties:
Dr Warranty liability 10,000
Cr Cash (or inventory, or wages payable) 10,000
Depending on what type of costs are incurred by the company, the account credited will vary, e.g. if units are replaced, then inventory must be credited, or if units are repaired and only labor is used, then wages payable or cash should be credited. Since the question doesn't give us a lot of details, I credited cash.
Answer:
The answer is: C) There is a valid contract
Explanation:
According to Appellate Court ruling in Steinberg v. Chicago Medical School;
The two parties (Joe and Sate University) entered a valid contract agreement upon receiving the $100 dollar application fee from Joe. State University´s catalog is considered to be the Offer part of this contract and the $100 application fee is considered the Consideration part of the contract.
Answer:
Active traders often group themselves into two camps: the day traders and the swing traders. Both seek to profit from short-term stock movements (versus long-term investments), but which trading strategy is the better one? Here are the pros and cons of day trading versus swing trading.
Answer:
The correct answer is letter "C": Ability of a firm to pay the interest on its debt.
Explanation:
The cash coverage ratio is a metric that measures a company's ability to pay its financial obligations. Generally, the higher the coverage ratio the better for the business to meet its debt obligations. It is best to compare coverage ratios of companies in the same industry or sector in the economy. Comparisons across industries are not useful as companies in different industries use debt in different ways.
Answer:
Risk Breakdown Structure
Explanation:
According to my research on the different techniques or structures used within organizations, I can say that based on the information provided within the question the term being used is called Risk Breakdown Structure. This structure is a pyramid structure which organizes different project risks and arranges them by category.
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