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
when sending a claim to the insurance company for services provided by the physician why are both ICD-10 and CPT codes required
SSSSS [86.1K]

When a patient receives services from a licensed doctors, these services are recorded and assigned codes by the medical coder. ICD codes are used for diagnoses, while CPT codes are used for various treatments. The summary of these services, through these code sets, make up the bill. Medical Claim Billings are rejected when Diagnostic code (ICD-10 code) and procedure code (CPT code) are missing, not complete, or do not match to the treatment given by the physician.

8 0
3 years ago
State the purpose of footing the total column in the​ client's accounts receivable trial​ balance, tracing individual customer n
Pani-rosa [81]
No se y ni me importa
7 0
3 years ago
In 2009, based on concepts similar to those used to estimate U.S. employment figures, the Japanese adult non-institutionalized p
tigry1 [53]

Answer: 59.27% and 4.77%.

Explanation:

Given that,

In the year 2009:

Japanese adult non-institutionalized population = 110.272 million

Labor force = 65.362 million

Number of people employed = 62.242 million

Japanese labor-force participation rate = \frac{Total\ labor\ force}{Total\ population}

                                                                  =\frac{65.362}{110.272}

                                                                  = 0.5927 or 59.27%

Unemployment rate = \frac{Total\ labor\ force - Number\ of\ people\ employed }{Total\ labor\ force}\times100

                               = \frac{65.362 - 62.242}{65.362}\times100

                               = 4.77%

7 0
3 years ago
Physical capital differs from raw materials in the sense that raw materials A. have a longer useful life in production B. are co
Komok [63]

Answer:

D. are used up in production

Explanation:

Raw materials can be seen as the "ingredients" required to produce a good and, thus, are consumable (used up in production). Physical capital refers to lasting goods that are assist the production process like buildings or machinery and are not consumable.

4 0
3 years ago
Hi-Tek is a young start-up company that is currently retaining all of its earnings. The company plans to pay a $2 per share divi
ziro4ka [17]

Answer:

Option (a) is correct.

Explanation:

Given that,

Dividend pay in year 7, D7 = $2 per share

Growth rate of dividend, g = 2.2 percent per year

Required return, ke = 16 percent

Present value of the future dividend at year 6:

= D7 ÷ (ke - g)

= $2 ÷ (0.16 - 0.022)

= $14.49

Therefore, the present value of dividend now is as follows;

= Present value of the future dividend at year 6 × (1 + ke)^{-6}

= $14.49 × (1 + 0.16)^{-6}

= $5.95

5 0
3 years ago
Other questions:
  • Irene enjoys problem solving and figuring out how things work. In her workplace, when there are technical issues, many of her co
    6·2 answers
  • Page(s) 39-41 2.3. What are the benefits of specialization and trade? In one month, Mikhail’s Furnishings can make 160 carpets o
    12·1 answer
  • In quality control applications, bar charts are used to identify the most important causes of problems. When the bars are arrang
    13·1 answer
  • Project Q has an initial cost of $211,415 and projected cash flows of $121,300 in Year 1 and $176,300 in Year 2. Project R has a
    9·1 answer
  • José spends most of his time thinking about Sheila, the love of his life. This had led to José neglecting his course work. From
    8·1 answer
  • Given an interest of $11,900 at 6% for 50 days (ordinary interest) calculate the principal
    13·1 answer
  • Are policymakers susceptible to​ rent-seeking behavior? Explain. ​Rent-seeking behavior
    13·1 answer
  • The budgeted income statement presented below is for Burkett Corporation for the coming fiscal year. If Burkett Corporation is a
    5·1 answer
  • Chow Publications Inc. is a publicly traded media company focused on products for the home chef market. The company publishes a
    6·1 answer
  • Reflect on a issue of law and order being face the problem of<br> Pakistani nation​
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!