Answer:
A DEBIT to Estimated warranty liability
Explanation:
Based on the information given we were told that the company recognized an estimated warranty of the amount of $54,000 for its 2017 sales in which the year 2018 the company also repair costs of the amount of $21,000 which is related to products sold during the year 2017 which means that The journal entry to record the cost of repairs would include a debit to ESTIMATED WARRANTY LIABILITY .
Reduction in the price. If they do not reduce the price, then people will not buy the product, and they will be left with too many of the same products.
Answer:
Increase promotion spending
Explanation:
Note that the challenge for the product is to get a demand that supersedes that of their competitor. Thus, by spending more on promotion they could still maintain the contribution margin while at the same time increase consumers demand the product.
For example, by adding extra gift items to their products consumers would likely feel motivated to buy the product over the other.
Common stock our shares of ownership in a corporation that a Ford their holders voting rights.
Answer:
AP North Company
Income statement for the year ended December 31, 2020
Amount in $'000
Sales 2,250
Cost of goods sold <u> 1,250</u>
Gross profit 1,000
Operating expenses
Selling and administrative expenses (300)
Non- Operating or others
Interest expense <u> (10) </u>
Net Income/(loss) before income taxes 690
Income taxes <u> (200)</u>
Net Income/(loss) after income taxes <u> 490 </u>
Explanation:
A multi-step income statement is one in which the elements of incomes and expenses are grouped into operating and non-operating heads.
Operating income and expenses are those that are directly related to the ordinary activities of the entity.
