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shusha [124]
2 years ago
12

Ragas, Inc. sold goods with a selling price of​ $50,000 in the 2017 and estimated​ 5% warranty expense for the year. Customers c

omplained of​ defects, and goods with a cost of​ $1,500 had to be replaced. Which of the following is the correct journal entry for honoring the warranties with​ goods?
A. Estimated Warranty Payable ​1,500
     Cash 1,500
B. Estimated Warranty Payable 1,500
     Warranty Expense 1,500
C. Warranty Expense 1,500
     Merchandise Inventory 1,500
D. Estimated Warranty Payable 1,500
     Merchandise Inventory ​1,500
Business
1 answer:
Trava [24]2 years ago
8 0

Answer:

D. Estimated Warranty Payable 1,500

    Merchandise Inventory ​1,500

When the Warranty is honored, the Estimated Warranty account is debited to show the claiming of the expense.

The relevant asset account which in this case is Merchandise inventory is credited to show that it's reduction.

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6. The motivation people feel to buy a product​
mojhsa [17]
The correct answer would be Incentive.
Incentive is a thing that motivates or encourages one to do something.
3 0
3 years ago
Each unit requires 2 pounds of direct materials, which cost $6 per pound. The company’s policy is to maintain direct materials i
ycow [4]

Answer: Budgeted Raw Material to be consumed in July.

Quantity         Price per pound             Total

10,200                 $6                             $61,200

Explanation:

As for the information provided, the material at month end in hand shall be:

20% of upcoming month's sale.

If in June at month end, the inventory in hand = 2,040 pounds of raw material.

Then, this represents 20% of total requirement of July.

Therefore, total requirement in July = \frac{2,040}{0.20} = 10,200\ pounds

This basically means:

Total inventory required =

Quantity         Price per pound             Total

10,200                 $6                             $61,200

5 0
2 years ago
The marketing department wants to buy two new computers. One computer will be used for their graphic artist to create graphics a
BartSMP [9]

Answer:

Explanation:

While buying a computer , the potential purpose and usage of the computer should as well as the component of the computer to buy should be considered in order to make a right selection .

As graphics designing software is processor intensive , a processor with a very high speed of at least 1 Ghz and an adequate RAM to aid faster process at once , minimum of 8Gb is required.

However , considering the function of a secretary which is to track billing and hours , a computer with a slower process will definitely perform the task

8 0
3 years ago
Fiscal policy would be more effective if: a. crowding out occurred more often. b. the government could change taxes and expendit
Elodia [21]

Answer:

B) the government could change taxes and expenditures rapidly.

Explanation:

Fiscal policy is the government's spending and taxation policies carried out to influence the country's economy. The government can carry out an expansionary fiscal policy by reducing taxes or increasing spending to try to boost the economy, or it can carry out a contractionary fiscal policy that increases taxes and reduces spending to try to cool down the economy.

Expansionary fiscal policies are carried out to try to increase total aggregate demand, but it also increases the government's deficit and national debt. The main gals of fiscal policy should be to lower unemployment rate and achieve a sustainable economic growth.

4 0
3 years ago
Under which set of circumstances would it not be appropriate to assume the value the noncontrolling shares is the same as the co
BaLLatris [955]

Answer:

The correct answer is C

Explanation:

NCI stands for the Non-controlling interest which also called as the minority interest, it is defined as the position of ownership where the shareholder owns outstanding shares that is less than 50% and has no control on the  decisions.

Under the situation where the active prices for the shares are not acquired by the acquirer states a different value, it is not appropriate to assume the value of the non-controlling shares same as of the controlling shares.

7 0
3 years ago
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