Answer:
$13,725
Explanation:
The movement in the warranty payable account over a period is as a result of the warranty expense for the period and the warranty payments made during the period.
Given that the company estimate warranty expense at 4.5% of sales, the estimated warranty for the period is the expense recorded in the income statement. This is equivalent to
= 4.5% * $305,000
= $13,725
Answer:
See below
Explanation:
The job description is a document that shows the duties, responsibilities, and skills to perform a specific role. For example;
<u>Negotiate insurance settlement- </u><u>Claim adjuster</u>
The claim adjuster gathers reports and facts to the insurer.
<u>Certifies the financial record of the business-</u><u> Auditor</u>
An auditor ensures the reports and records are well examined in an organization. He or she verify the assets and liabilities.
<u>Help a company build a positive image in the media-</u><u> Public relation specialist.</u>
Public relations help in building trust and creating awareness about the organization.
<u>Negotiates the rates for transportation of goods- </u><u>Cargo and flight agent</u>
cargo and flight agents ensure that shipments are delivered on time, and fees are collected.
Answer:
$136,000
Explanation:
Purchase price of new boiler = $120,000
Carrying amount of old boiler = $10,000
Fair value of old boiler = $4,000
Installation cost of new boiler = $16,000
The selling cost of old boiler = $4,000
Now,
Capitalized cost of the new boiler
= Purchase price of the new boiler + Installation cost the new boiler
= $120,000 + $16,000
= $136,000
Answer:
December 31 Interest expense $3900 Dr
Interest Payable $3900 Cr
Explanation:
The interest and principal is both payable at maturity thus we need to accrue the interest payment and create a liability against the amount of interest due. The adjustment is made 6 months from the issue of the note thus the interest for 6 months is due. The entry would be to record 6 month's interest that relates to this year. The interest expense will be,
120000 * 0.065 * 6/12 = $3900
As the payment is not made until maturity we will credit interest payable by this amount.
Answer:
$4
Explanation:
Calculation to determine the minimum price the company would accept for the radios
Minimum price=Selling costs (40% variable)*$10
Minimum price=$4
Therefore the minimum price the company would accept for the radios will be $4 because it COVER THE VARIABLE SELLING EXPENSE
