Answer:
Liability for product warranty at month end is $4810
so correct option is E) None of these
Explanation:
given data
time = 45 days
defective = 8%
average repair cost = $65 per unit
total sales = 1,000 units
repaired = 6 unit defective
to find out
liability for product warranties at month end
solution
we know that First Month Sales units = 1,000
and First month estimated liability in units @8 % is = 80
and here Defective Units already repaired is 6
Additional liability in unit is = 80 - 6 = 74
and Additional liability @$65 per unit will be = 74 × 65 = 4810
So Liability for product warranty at month end is $4810
so correct option is E) None of these
Answer:
credit to Work in Process of $59,000.
Explanation:
Based on the information given the appropriate l journal entries to record these transactions would include a: CREDIT TO WORK IN PROCESS OF $59,000
Dr Finished goods $59,000
Cr Work in process $59,000
Dr Cost of goods sold $65,000
Cr Finished goods $65,000
Answer:
$960,000
Explanation:
Calculation to determine the corporation's taxable income for this year
Using this formula
Taxable income=Book income+Depreciation Expense-Asset
Let plug in the formula
Taxable income=$1,000,000+$20,000-$60,000
Taxable income=$960,000
Therefore the corporation's taxable income for this year is $960,000
The ruppe is the basic monetary unit in india