Answer:
1) Warranty expense = $550
2) Warranty liability = $550
3) Warranty liability = $435
Explanation:
As per the data given in the question,
1.) Warranty expense = 5% of dollar sales
= 5% × $11,000
= $550
2.) On year end Dec-31st balance of liability will be same as expense incurred as there is no repair in year 1.
So, Estimated Warranty liability = Warranty expense
Estimated Warranty liability = $550
3.) Beginning balance = $550
Repair cost = $115
End balance of year = Beginning balance - Repair cost
= $550 - $115
warranty liability = $435
An ad by the Minnesota State Tourism Department, which promotes Minnesota as a vacation destination, was published in Life Mode magazine. The ad includes a picture of a couple against a scenic backdrop. In this print ad, the source of the advertising message is the Minnesota State Tourism Department
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Explanation:</u></h3>
Tourism department generates revenues to the government with the help of the natural resources and beautiful destinations that exists in a country. Money will be collected from the people who visits the places in the country. This type of depart earns a lot of revenue during the time of vacations.
They also promote by giving certain discounts and offers during vacation time for attracting many people towards that destination. They also give advertisements for making the people to support state tourism to generate resources for the nation. Thus, in the given example the source of the advertising message is the Minnesota State Tourism Department.
Answer:
The correct answer here is $2000.
Explanation:
Given information -
Original value of asset - $28,000
Fair market value - $35,000
Equipment received in exchange of transaction - $2000
For taking out the Arlington's gain or loss on the exchange we will select the lesser of the f\given two, which are fair market value of equipment which is $2000 and other one is gain recognized by - $35,000 + $2000 - $28,0000 = $9000, so the lesser of the two is $2000.
Answer:
Optimal price is $575 which includes skis and ski binding.
Explanation:
Skiers who value skis at
Advance 20 * [$350 + $250] = $12,000
Intermediate 20 * [$250 + $375] = $12,500
beginners 20 * [$175 + $325] = $10,000
Total Revenue $34,500
Optimal price $34,500 / 60 = $575.
Companies use the production function to determine the optimal combination of labor and capital to produce a certain amount of out put. increasing marginal costs can be identified using the production function.