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
Do It! Review 11-3a Incorrect answer. Your answer is incorrect. Try again. Riverbed Corp has 3,300 shares of 7%, $103 par value
harina [27]

Answer and Explanation:

1. The preferred stock is non-cumulative, and in previous years, the company has not skipped any dividends.

Dividend paid to preferred shareholders = Shares × Par value preferred stock × Shares percentage

= 3300 × $103 × 7%

= $23,793

Dividend paid to common shareholders = Cash dividend - Dividend paid to preferred shareholders

= $123,500 - $23,793

= $99,707

2. The preferred stock is non-cumulative, and in both of the two previous years, the company did not pay a dividend.

Dividend paid to preferred shareholders = Shares × Par value preferred stock × Shares percentage

= 3300 × $103 × 7%

= $23,793

Dividend paid to common shareholders = Cash dividend - Dividend paid to preferred shareholders

= $123,500 - $23,793

= $99,707

3. The preferred stock is cumulative, and in both of the two previous years the company did not pay a dividend.

Dividend paid to preferred shareholders =  Shares × Par value preferred stock × Shares percentage × Number of years

= 3,300 × $103 × 7% × 3

= $71,379

Dividend paid to common shareholders = Cash dividend - Dividend paid to preferred shareholders

= $123,500 - $71,379

= $52,121

5 0
3 years ago
what is the level of interdependence among departments (finance, marketing) in a business school? what kinds of coordination mec
bearhunter [10]

Following are the three levels of interconnectedness that affect organizational structure:

<h3>What is the Parsons Thompson model?</h3>

The three layers or levels of the Parson and Thompson model describe what occurs in the enterprise and how a process or activity serves a particular goal.

Here is a summary of Thompson's levels of interdependence:

  • In order to create a team where each member contributes to the total, there are three types of interdependence that can be used.

In a business school, the degree of connection between the departments of finance and marketing is:

  • Structure of Reciprocal Interdependence.

There are various coordination techniques that might be applied to manage the interdependence, including:

  • complete cooperation
  • extensive preparation
  • Mutual apprehension

We must demonstrate the many layers of interconnectedness and how they might be applied in diverse systems, such as a business school's finance or marketing department, in order to answer the issue.

To learn more about Thompson model refer to

brainly.com/question/26895062

#SPJ4

5 0
1 year ago
"Capital" is sometimes defined as funds supplied to a firm by investors. True or false?
Nimfa-mama [501]

Answer: True

Explanation: (None)

7 0
2 years ago
In every state, there is a government-subsidized university. This subsidy, in theory, would make it possible for tuition to be l
Hatshy [7]

Answer:

Explanation:

fhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

3 0
2 years ago
22) BS Company is considering eliminating the following product line: Product AXP Sales $ 80,000 Less variable costs: Raw materi
Naily [24]

Answer:

Avoidable costs= $60,000

Explanation:

Giving the following formula:

Raw materials 50,000

Direct labor 10,000

Facility-level costs allocated to products 30,000

<u>We were not provided with information regarding the fixed allocated costs. If none of the fixed allocated costs are avoidable, only the variable cost will not be incurred if the product is eliminated.</u>

Avoidable costs= $60,000

8 0
2 years ago
Other questions:
  • Sarah is watching a baseball game and accesses the internet to look up stats for one of the players. In terms of integration of
    6·1 answer
  • What are supply chain
    11·1 answer
  • There are eight marketing reasons why a new product can fail: (1) no economic access to buyers;(2) incomplete market and product
    15·1 answer
  • During 2018, Colorado Company stock was sold for $9,400. The fair value of the stock on December 31, 2018, was Clemson Corp. sto
    13·1 answer
  • The easiest way to convert your paper files into electronic files is by _______.
    13·2 answers
  • Candy crunchers wants to see if their new candy is enjoyed more by high school or middle school students. they decide to visit o
    14·2 answers
  • Pharoah Corporation has the following long-term investments. (1) Common stock of Eidman Co. (10% ownership), cost $102,500, fair
    8·1 answer
  • What happens when you hide a column in Microsoft Excel?
    14·1 answer
  • Remmel Corporation has provided the following contribution format income statement. Assume that the following information is wit
    7·1 answer
  • why it is so difficult to compare unemployment rates in the United States with unemployment rates in poorer countries?
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!