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Yuri [45]
3 years ago
5

Florida Keys Construction installs swimming pools. It calculates that warranty obligations are 3% of sales. For the year just en

ding, Florida Keys’ sales were $1,450,000. Previous quarterly entries debiting Warranty Expense totaled $28,700. Determine the estimated warranty expense for the year and make the journal entry necessary to bring the account to the needed balance.
Business
1 answer:
Mademuasel [1]3 years ago
5 0

Answer:

Dec. 31

Debit Warranty Expense 14,800

Credit Warranty Payable 14,800

Explanation:

Calculation to Determine the estimated warranty expense for the year

Based on the information given we were told that Florida Keys sales has the amount of $1,450,000 with 3% sales warranty obligation, and Florida keys as well had debit Warranty Expense of the amount of $28,700 this means that the Estimated warranty expense will be calculated as;

$1,450,000 * 3% =$43,500

$43,500-$28,700=$14,800

Therefore the Journal entry will be:

Dec. 31

Debit Warranty Expense 14,800

Credit Warranty Payable 14,800

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Answer:

Explanation: Kindly find attached the transaction

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List four decision making techniques
Elenna [48]
Command – decisions are made with no involvement.
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Purple Feet Wine, Inc., receives an average of $14,000 in checks per day. The delay in clearing is typically four days. The curr
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Answer:

The correct answer is $56,000.

Explanation:

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8 0
3 years ago
Write expanded notation of 752 863​
tresset_1 [31]
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4 0
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The degree to which team members interact with and rely on other team members for the information, materials, and resources need
Mariulka [41]

Answer:

task interdependence is the correct answer.

Explanation:

The degree to which team members interact with and rely on other team members for the information, materials, and resources needed to accomplish work for the team is known as task interdependence.

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