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charle [14.2K]
3 years ago
9

During August, Boxer Company sells $348,000 in merchandise that has a one year warranty. Experience shows that warranty expenses

average about 5% of the selling price. The warranty liability account has a credit balance of $11,000 before adjustment. Customers returned merchandise for warranty repairs during the month that used $7,600 in parts for repairs. The entry to record the estimated warranty expense for the month is:
Business
1 answer:
9966 [12]3 years ago
3 0

Answer:

Dr Estimated Warranty Liability $8,600

Cr               Spare Parts Inventory  $8,600

Explanation:

The estimated warranty claim is worth $7,600 which means that the warranty claim must be debited by this amount as it was previously forecasted to be at $11,000 and in this month, the claim was worth $7,600. So decrease in warranty liability is necessary. Furthermore, the Spare Parts Inventory would be credited as the Spare parts would be used to fix the inventory which must be of $7,600 in value.

The double entry to record Warranty Repairs would be as under:

Dr Estimated Warranty Liability $8,600

Cr               Spare Parts Inventory  $8,600

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TwitterMe, Inc., is a new company and currently has negative earnings. The company’s sales are $2.1 million and there are 130,00
Paladinen [302]

Answer:

a. $69.46

b. 58.15

Explanation:

a. Price = Benchmark PS ratio × Sales per share

<u>Sales per Share</u>

=  Sales / Shares outstanding

= 2,100,000/130,000

= $16.15

Price = 4.3 * 16.15

Price = $69.46

b. PS Ratio is 3.6

Price = Benchmark PS ratio × Sales per share

Price = 3.6 * 16.15

Price = $58.15

7 0
3 years ago
In 2015, a former Google engineer, Erica Baker, made a spreadsheetshowing pay disparities at the company. She shared the informa
Studentka2010 [4]

Answer:

b. Organizational justice.

Explanation:

In reacting to the allegations that Google engages in "systematic compensation disparities against women" and the request of payroll records by the U.S. Department of Labor in 2017.

Google annually reviews pay levels and denies any disparities against women. In reviewing pay levels, Google's management is focused on organizational justice. The concept of organizational justice was first introduced by Greenberg in the year 1987.

Organizational justice is an organizational concept that describes an employee's perception of decisions, fairness, behaviors and actions with respect to how these employees are affected or influenced both psychologically and other wise at work.

Organisational justice deals with all workplace related activities, ranging from salary to relationships between superiors and their subordinates, equal rights, gender equality and even access to training and promotion.

For the purpose of trust, loyalty and progressive work attitudes, it is very important that organizations prioritize organizational justice.

Hence, if Google focuses on organizational justice, it will help to build trust and address the issue of pay level disparities among its employees.

6 0
3 years ago
On December 1, 20X1, Money Co. gave Home Co. a $200,000, 11% loan. Money paid proceeds of $194,000 after the deduction of a $6,0
zysi [14]

Answer: <em>(C.) $2,005</em>

Explanation:

Given :

Money Co. made a cash outflow of $194,000 for the $200,000 loan Money gave to Home Co.  

The book value of the loan is $194,000.

The stated rate is 11%.

Hence they will receive an effective interest rate of 12.4% on cash outflow.  

∴

Income from the loan = Book value × Effective interest rate × No. of months of the year

= $194,000 × 0.124 × \frac{1}{2}

= $2,004.67

3 0
3 years ago
A fast-food restaurant has determined that the chance a customer will order a soft drink is 0.90. The proba- bility that a custo
azamat

Answer:

(a) The probability that the order will include a soft drink and no fries is 0.45.

(b) The probability that the order will include a hamburger and fries is 0.48.

Explanation:

Let the events be denoted as follows:

S = an order of soft drink

H = an order of hamburger

F = an order of french fries.

Given:

P (S) = 0.90

P (H) = 0.60

P (F) = 0.50

(a)

It is provided that the event of ordering a soft drink and fries are independent.

If events A and B are independent then the probability of event (A ∩ B) is:

P(A\cap B)=P(A)\times P(B)

Compute the probability that the order will include a soft drink and no fries as follows:

P(S\cap \bar F)=P(S)\times P(\bar F)\\=P(S)\times[1-P(F)]\\=0.90\times (1-0.50)\\=0.45

Thus, the probability that the order will include a soft drink and no fries is 0.45.

(b)

It is provided that the conditional probability that a customer will order fries given that he/she has already ordered a hamburger as, P (F|H) = 0.80.

The conditional probability of an event B given another event A has already occurred is:

P(B|A)=\frac{P(A\cap B}{P(A)}

Compute the probability that the order will include a hamburger and fries as follows:

P(F|H)=\frac{P(H\cap F)}{P(H)}\\P(H\cap F)=P(F|H)\times P(H)\\=0.80\times 0.60\\=0.48

Thus, the probability that the order will include a hamburger and fries is 0.48.

6 0
3 years ago
What can the fair test help you avoid?
marishachu [46]

Fair test can help you avoid wrong answers as they are used in finding right answers in research.

<h3>What is fair test?</h3>

Fair test is used to investigate in research, the researcher keeps some variable as constant while other are changed and not constant to get effective answers. Fair test can be used to generate accurate answers in research.

Therefore, fair test can help you avoid wrong answers as they are used in finding right answers in research.

Learn more on fair test below,

brainly.com/question/6791607

#SPJ11

5 0
1 year ago
Read 2 more answers
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