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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

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Lillypad Toys is a manufacturer of educational toys for children. Six months ago, the company's research and development divisio
Reptile [31]

Answer:

Option A; INCREASED COMPETITION FROM IMITATORS.

Explanation:

Innovation occurs only when something is entirely new, having never been done before. Innovation also exist when something which may have been done elsewhere is done for the first time in a given industry.

On the other hand, when other competitors in the same industry subsequently copy the innovator, even though it is something new for them, then it is imitation.

When a company comes out with a new product, its competitors typically go on the defensive, doing whatever they can to reduce the odds that the offering will eat into their sales. Responses might include: cranking up marketing efforts, offering discounts to channel partners and even lobbying for regulations that would hinder the rival's expansion.

Therefore, Lilypad's managers should prepare for INCREASED COMPETITION FROM IMITATORS next.

7 0
2 years ago
On March 1, a business paid $3,840 for a twelve-month liability insurance policy. On April 1, the business entered into a two-ye
Helen [10]

Answer:

a. Insurance expense for the month of march

= ($3,840 / 12 months) * 1 month

= $320 per month

b. Balance in prepaid insurance as of March 31

= ($3,840 / 12 months) *11 months remaining

= $3,520

c. Equipment rent expense for the month of April

= ($23,160 / 24 months) * 1 month

= $965

d. Balance in prepaid equipment rental as of April 30

= Nil ($0) as it is not mentioned that payment has been made, it is only mentioned that two year rental contract has been entered into.

4 0
3 years ago
In 1903, for the first time in u.s. history, congress passed a law declaring that a person holding a specific political viewpoin
mojhsa [17]

In 1903, the congress passed a law declaring that a person holding a specific political viewpoint could be banned from entering the nation, these were the <u>anarchists</u>.

<h3>Who are the anarchists?</h3>

These are group of people that holds the theory that is skeptical of the justification of authority and power, they pursues that cluster of doctrines and attitudes centered on the belief that government is both harmful and unnecessary.

The first person to be call an anarchist was the French writer called Pierre-Joseph Proudhon. In his study, he argued that the real laws of society have nothing to do with authority but rather stem from the nature of society itself and he foresaw the eventual dissolution of authority and the emergence of a natural social order.

Read more about anarchists

brainly.com/question/843610

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6 0
1 year ago
Technology Corp. is considering a $238,160 investment in a new marketing campaign that it anticipates will provide annual cash f
LUCKY_DIMON [66]

Answer:

B) IRR is 3%. Reject the project.

Explanation:

We can use an excel spreadsheet to calculate the internal rate of return (IRR) for this investment:

we can use the IRR function =IRR(values,[guess])

where:

  • value 1 = -238160
  • value 2 to 6 = 52000
  • guess = optional, not required

=IRR(-238160,52000,52000,52000,52000,52000) = 3%

4 0
3 years ago
Suppose you find $20. if you choose to use the $20 to go to the football game, your opportunity cost of going to the game is:___
alukav5142 [94]

Suppose you find $20. if you choose to use the $20 to go to the football game, your opportunity cost of going to the game is <u>$20</u>.

The opportunity cost is time spent analyzing and that money to spend on something else. A farmer chooses to plant wheat; the opportunity fee is planting a specific crop or alternate use of the assets (land and farm machine).

Opportunity value is a financial term that refers back to the cost of what you need to give up so that it will choose something else. In a nutshell, it is a price of the road not taken.

Whilst economists talk to the “opportunity cost” of a useful resource, they imply the fee of the following-maximum-valued opportunity use of that aid. If, for an instance, you spend time and money going to a film, you cannot spend that point at domestic analyzing an ebook, and also you cannot spend the cash on something else.

Learn more about opportunity costs here: brainly.com/question/481029

#SPJ4

6 0
1 year ago
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