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
tia_tia [17]
2 years ago
7

Talks-A-Lot, Inc. sells cell phones to customers and expects that 10% of phones sold will be returned for repair under its warra

nty program. The average repair cost is $75 per phone. For 2021, Talks-A-Lot has sold 750 cell phones and has repaired 30 of them as of December 31, 2021. What amount of warranty liability should be reported at December 31, 2021?
Business
1 answer:
poizon [28]2 years ago
6 0

Answer:

amount of warranty liability that should be reported at December 31, 2021 is   $3,375

Explanation:

<em>When the Sale was made, the Warrant Liability is recorded as follows:</em>

Warranty Cost $5,625 (Debit)

Warranty Provision $5,625 (Credit)

Warranty Cost =  750 cell phones × $75 × 10% = $5,625

<em>When Warranty Claims were received during the year the records are as follows :</em>

Warranty Provision $2,250 (Debit)

Cash $2,250 (Debit)

Warranty Cost = 30 × $75 = $2,250

<em>At December 31, 2021 the amount of warranty liability should be</em>

Warranty Provision = $5,625 - $2,250 = $3,375

You might be interested in
The three common types of checking accounts are basic, interest-bearing, and lifeline?
otez555 [7]

Answer:

True

Explanation:

Quizlet: Name three common types of checking account? basic checking account, interest-banking checking account, and Lifeline checking accounts.

3 0
2 years ago
If GDP exceeds aggregate expenditures in a private closed economy: A. Saving will exceed planned investment B. Planned investmen
Leya [2.2K]

Answer:

The correct answer is A

Explanation:

GDP stands for Gross Domestic Product, it measures the economic activity value within a Country. It is the total of the market prices or the values of all the final goods and the services produced in the economy.

When the economy is private as well as closed, then the GDP is more than the aggregate expenditure, then the savings from the household exceed the planned investment.

4 0
2 years ago
Customers are more likely to tell their friends about negative experiences with companies than positive ones because:
polet [3.4K]

There is more drama involved in unmet expectations.

The reason why customers are more likely to tell their friends about negative experiences with companies than positive ones is that humans often remember the hateful things said than the nice things

Also, when customers are satisfied with one's service, they rarely tell others. whereas an unsatisfied customer would tell others about his or her bad experience due to unmet expectations.

Logically, customers would have bigger impressions in their mind when they have bad experiences reason companies work on strengthening and improving their customer experience team.

Learn more at : brainly.com/question/11437477

8 0
2 years ago
A 10-year German government bond (bund) has a face value of €100 and a coupon rate of 5% paid annually. Assume that the interest
cestrela7 [59]

Answer:

€92.64

Explanation:

The present value i.e PV formula is used that is shown in the attached spreadsheet  

The NPER reflects the time period.

Given that,  

Future value = €100

Rate of interest = 6%

NPER = 10 years

PMT = €100 × 5% = €5

The formula is shown below:

= -PV(Rate;NPER;PMT;FV;type)

So, after solving this, the answer would be €92.64

8 0
3 years ago
Based on the chart, which of these statements is true? Administrative assistants and attorneys require the most training. Attorn
katovenus [111]
Among the statements this is true: Attorneys and teachers have the least amount of training.

These professionals require a lot of training in their field of work because they are always in the line of question. Lawyers have to perform in and out of the court, with or without their clients in question; while teachers have to perform and act in such manner that they are always held in high regard by people around them.
3 0
3 years ago
Read 2 more answers
Other questions:
  • Complete the sentences to identify the primary and secondary audience of Lee’s business message.
    13·1 answer
  • How do your financial choices impact the economy?
    5·2 answers
  • Momentum Rollerblades has three product lineslong dash​D, ​E, and F. The following information is​ available: D E F Sales revenu
    8·1 answer
  • In one test before product launch, customers try a sample product and are then surveyed to understand whether they would buy/use
    15·1 answer
  • The common stock of Federal Logistics is selling for $57.56 per share. The company pays a constant annual dividend and has a tot
    5·1 answer
  • Consider a two-good world: good x and good y. The ICC (income consumption curve) between good x and good y has a negative slope
    5·1 answer
  • Positive outcomes of entrepreneurship in marketplace
    12·1 answer
  • Neptune Inc. uses a standard cost system and has the following information for the most recent month, April: Actual direct labor
    15·1 answer
  • Why is it important to file your federal incomes taxes every year?.
    11·1 answer
  • A company can have many different levels of measuring KPIs. What types of KPIs can be measured besides company-level, campaign-l
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!