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
Mashcka [7]
3 years ago
15

Ecco Company sold $151,000 of kitchen appliances with six-month warranties during September. The cost to repair defects under th

e warranty is estimated at 9% of the sales price. On October 15, a customer required a $120 part replacement, plus $87 labor under the warranty.
Provide the journal entry (a) the estimated expense on September 30 and (b) the October 15 warranty work.
Business
1 answer:
erik [133]3 years ago
8 0

Answer:

The journal entries are shown below

Explanation:

The journal entries are as follows

a. Product warranty expense $13,590             ($151,000 × 9%)

        To Product warranty payable $13,590    

(Being the warranty estimated expense is recorded)

b. Product warranty payable   $207

                To Supplies  $120

                 To Wages payable $87

(Being the warranty work is recorded)

Only these two entries are passed

You might be interested in
Which distribution channel is used by valley farm dairy to distribute its products to consumers without intermediaries?
expeople1 [14]
The distribution channel used by the Valley Farm Dairy would be direct distribution. It is a type of channel distribution that is used to directly sell the goods from the producer to the consumers themselves. The use of intermediaries would increase the price of the good when it reaches the consumers.
3 0
3 years ago
The Hutters filed a joint return for 2019. They provide more than 50% of the support of Carla, Ellie, and Aaron. Carla (age 18)
sergey [27]

Answer:

Hutters can be claim two dependents

Explanation:

we know here that Hutters can be claim two dependents

because here given Carla and Ellie as Aaron meets neither the residency nor citizenship requirement

but Carla is a qualifying relative and is under the age of 24

but Ellie is above 24 but is a qualifying relative as scholarship is non-taxable

so

we can say that answer is two

8 0
2 years ago
Every society faces​ trade-offs because we live in a world of scarcity. Suppose a​ student-athlete has the opportunity to earn ​
Leokris [45]

Answer: Opportunity cost of returning to college next year is $1,000,000.

Explanation: Opportunity cost is the cost of the next best alternative sacrificed or foregone. When the athlete chooses to join college he is sacrificing his income that could be earned from playing the game. The player has the option of playing for the minor league baseball team for $1,000,000 or for European professional football team for ​$500,000. The person thus has a choice between playing for the minor league baseball team (since it is the highest paying) or going to college. Thus the opportunity cost of going to college will be $1,000,000.

8 0
2 years ago
Read 2 more answers
_______________________ : overhaul of communications law that opened door to far more competition by permitting companies to own
Kruka [31]

Answer: The major congressional

Explanation:

7 0
2 years ago
Nike decides to invest $60,000,000 into a shoe factory in Vietnam. What is the opportunity cost in this situation
Sergeu [11.5K]

Based on the payoff of the other investment alternatives, Nike's opportunity cost is<u> $600,000.</u>

<h3>What is Opportunity Cost?</h3>
  • It refers to benefits forgone when an alternative is picked instead of another alternative.
  • Is calculated as the payoff from the next best investment.

The next best investment was the $600,000 Nike was making per year on its money market account which makes this amount the opportunity cost of investing in Vietnam.

Find out more on opportunity cost at brainly.com/question/1549591.

3 0
2 years ago
Other questions:
  • Parrot received land as a gift with a fair market value of $5,000. The land was purchased by the donor for $8,000. The land is s
    15·1 answer
  • Which of the following is not true concerning the usage of public land. a. Public land is managed by federal and state agencies.
    14·2 answers
  • On October 31, 2021, Damon Company’s general ledger shows a checking account balance of $8,415. The company’s cash receipts for
    10·1 answer
  • What are the various product line decision, and when do marketing managers make each of these decisions? What is the meaning of
    10·1 answer
  • Which of the following are considered characteristics of money? I. Portable II. Uniform III. Divisible IV. Acceptable a. I and I
    12·1 answer
  • The annual percentage rate indicates the amount of​ interest, including the effect of any compounding.
    15·1 answer
  • An American company is in a joint venture with an overseas Middle East company. The U.S. managers are particular about time mana
    13·1 answer
  • Maurice has been operating his business as a sole proprietorship but decides that it is too much work for him to do alone. He do
    12·1 answer
  • actor Co. can produce a unit of product for the following costs: Direct material $ 8.60 Direct labor 24.60 Overhead 43.00 Total
    10·1 answer
  • Join be nice no being disrespectful talk hangout.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!