Answer:
Answer 1. Warranty expense to be recognized is ($11,000*0.04)=$440
Answer 2. Warranty liability at end of year one is $440
Answer 3. Warranty liability at the end of year two is ($440-$130)=$310
Answer 4.
Cash $11,000
To sales $11,000
(sale of copier recorded)
Warranty expense $440
To Warranty liability $440
(Warranty recorded at the end of year 1)
Warranty liability $130
To inventory $130
(Repairs done to copier)
Answer: E) Lessors provide a source of financing for lessees.
Explanation:
A Lease is a form of financing because in financing, an entity provides funding in the form of assets whether cash or otherwise to another entity to allow them use to operate their business. The entity that was provided with funding will then pay a periodic payment as a way to pay off the funding.
This is what happens in leases. The Lessor is the owner of the asset and they lease it to the Lessee who then uses it and pays a periodic amount to the Lessor for using the asset.
Free market and laissez-faire are opposite for socialism as this type of market is free from the government control.
Explanation:
The free market and laissez-faire are the type of market in which government has no control. The decision of what t produce, how to produce, how much to produce and other decisions like price are decided by the producers itself only.
This type of market is opposite for socialism as the motive of this market is to profit maximization and not social welfare as it is out of from government control.
can you send the problems
Answer:
Answer is D. I, II, and III
Refer below.
Explanation:
You own $75,000 worth of stocks, and you are worried the price may fall by year end in 6 months. You are considering using either puts or calls to hedge the position. Given this, the following statements are correct:
I, II, and III
