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
ivann1987 [24]
3 years ago
12

Benitez Co. had sales of $800,000 in 2016. The company expects to incur warranty expenses amounting to 3% of sales. There were $

13,000 of warranty obligations paid in cash during 2016. Based on this information:
A. Warranty claims would decrease net earnings by $4,000 in 2016.

B. Cash would increase by $17,000 as a result of the accounting events associated with warranties in 2016.

C. The warranties payable account would increase by $11,000 in 2016.

D. Choose either A, B, or C
Business
1 answer:
snow_lady [41]3 years ago
7 0

Answer:

<em>C.-</em> the warrant liability will increase by 11,000 during the year

Explanation:

800,000 x 3% = 24,000 warrant liability / warrant expense for the year

                          (13,000) warrant claimed

increase of          11,000  in the warant laibility balance

From a beginning balance prior to 2016 as a result of 2016 warranty-related transactions the warrant liaiblity will increase by 11,000

You might be interested in
Suppose Foreign (Upper F )imposes a tariff on imports from Home (Upper H ). All else​ equal, this action will cause the​ long-ru
Orlov [11]

Answer:

D. increase; decrease

Explanation:

When foreign imposes a tariff on import from home then there will be decreaing the import leading to a decreased demand of domestic currency by foreigners.

Therefore, domestic currency will depreciate and foreign currency will appreciate thus this action will lead to real home/Foreign rate to increase and will decrease the nominal home/foreign exchange rate.

5 0
3 years ago
What is a written plan of action, developed prior to executing a mission, which will improve your chances of successful evasion
olga nikolaevna [1]

Answer:

The correct answer is "Evasion plan of action"

Explanation:

The evasion plan of action (Epa) is used to predict the chances of succesful situations, actions and movements of the opposition. If you know it, you could generate an advantage.

5 0
3 years ago
Read 2 more answers
During its first year of operations, a company entered into the following transactions: Borrowed $5,000 from the bank by signing
fiasKO [112]

Answer:

The amount of total assets at the end of the year is $15,600

Explanation:

The computation of the total assets is shown below:

= Borrowed amount + issued stock to owners + purchase of supplies - paid to supplies

= $5,000 + $10,000 + $1,000 - $400

= $15,600

We considered all the items which are given in the question. The payment made to supplies should be deducted as it reduced the balance of cash So, the remaining items would be added

8 0
3 years ago
What might you send to people who buy a house with no water?
g100num [7]
It is a well-known fact that water is a basic need of a human being in order to survived. Generally, a person is known to survive for only 3 days without water. Thus, the best thing that I would send to a person who bought a house with no water is any amount of water which will allow them to survive until they procure their own supply. 
4 0
3 years ago
wilson corporation exchanged land and $4,500 cash for material handling equipment. the land had a book value of $45,000 and a fa
77julia77 [94]

Book Value Of Asset 58500000. Book Value of Assets is the asset's value in the books of records of a company or an institution at any given instance.

Assets Book Value Formula = Total Value of an Asset – Depreciation – Other Expenses

Book Value Of Asset  is$4,500(58,000 - 45,000) and the fair value of asset exchanged is58500000. As there is a change in the value, this substance exists in the transaction.

Commercial substance exists in business transactions where the outcome is anticipated to change the company's cash flows in the future and is considered only when there is a significant alteration in the risk of cash inflow, the timing of cash inflow, and the amount paid as a result of the transaction.

Learn more about Asset from

brainly.com/question/25746199

#SPJ4

7 0
1 year ago
Other questions:
  • Rank these jobs in the Law, Public Safety, and Security career cluster based on years of schooling required, from most to
    15·1 answer
  • You are working as a correctional officer. Your boss pulls you aside and discusses with you how you handled a situation with an
    10·1 answer
  • What is a stock market? What is an example of a stock market?
    7·2 answers
  • Stated value of no-par stock is:
    12·2 answers
  • TerraLoc competes in the market for global positioning devices and services. The company manufactures its own GPS units, which a
    8·1 answer
  • A young entrepreneur recently decided to expand his steel business into a small industrial town in Indiana. Which of the followi
    12·1 answer
  • According to the most recent data available, there are approximately ____ noncustodial mothers in the united states.
    5·1 answer
  • Changing business process usually does not have effects on information technology.
    9·1 answer
  • China has been successful in international business in the past. Yet, the country is ruled under a communist regime. Do you thin
    6·1 answer
  • In 2018, Joshua gave $15,000 worth of XYZ stock to his son. In 2019, the XYZ shares are worth $25,000. If Joshua had not given h
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!