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
Most presentation programs allow you to customize _____.
Alex Ar [27]
Presentation programs allow you to customize both design templates and design layouts. Hope this helps!
6 0
3 years ago
Read 2 more answers
Select the statement which best describes the primary purpose of closing entries a. To complete the recording of various transac
ValentinkaMS [17]

Answer: c. To reduce the balances of revenue and expense accounts to zero so that they may be used to accumulate the revenues and expenses of the next period.

Explanation:

Closing entries are the journal entries that are made at the end of an accounting period in order to be able to transfer temporary accounts to the permanent accounts.

The primary purpose of closing entries is to reduce the balances of revenue and expense accounts to zero so that they may be used to accumulate the revenues and expenses of the next period.

Therefore, the correct option is C.

7 0
2 years ago
Marco recently bought a smartphone from​ bluetex, a leading electronics company. he was very disappointed with the low battery b
nirvana33 [79]

The correct answer is loss of control. Loss of control is being referred to as the lack of being able to provide the conscious limitations of behaviors and as well as impulses that is a result of an overwhelming emotion such as having to have no control with emotions of which can be characterized as having to fight or uncontrollable weeping.

3 0
3 years ago
The nominal interest rate in an economy is 5 percent, and there is also a 15 percent probability of having cash lost or stolen i
lubasha [3.4K]
The answer to this is d
6 0
3 years ago
How does industrial education affect industries?​
SVEN [57.7K]

Answer:

Industrial education will help student to know and understand industry demand. ... First, adaptability is a skill will help students to know and understand industry work and world, such as how to use technology, follow all industry SOP, all new chalanges industry, etc. Second, communication is an important skills to had.

5 0
3 years ago
Read 2 more answers
Other questions:
  • 18. If the marginal product of capital net of depreciation equals 10 percent and the rate of population growth equals 2 percent,
    11·1 answer
  • Quick Corp. has $270,000 of outstanding accounts receivable. On March 10, 1988, Quick assigned a $30,000 account receivable due
    15·1 answer
  • Problem 3-1B Identifying adjusting entries with explanations P1 For each of the following journal entries 1 through 12, enter th
    14·1 answer
  • The "invisible hand"
    15·1 answer
  • False Value Hardware began 2016 with a credit balance of $32,000 in the allowance for sales returns account. Sales and cash coll
    15·1 answer
  • Gambrinus is a large company that owns and operates the breweries that produce Moosehead Lager, Bridgeport Ale, Pete's Wicked Al
    13·1 answer
  • JPL Company has two segments - Retail and Commercial. The Retail segment has a contribution margin ratio of 40% and traceable fi
    14·1 answer
  • What are entrepreneurs?
    14·2 answers
  • Suppose economists observe that an increase in government spending of $15 billion raises the total demand for goods and services
    7·1 answer
  • During a period of economic expansion, when expected profitability is high, the: select one: a. Equilibrium price of bonds incre
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!