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Ket [755]
2 years ago
7

What is the total estimated warranty expense for 2 years ago? 3. What is the estimated warranty expense that Arctica reports for

its Jag model for the current year? 2. Total estimated warranty expense for 2 years ago 3. Estimated warranty expense (Jag model) for the current year
Business
1 answer:
vaieri [72.5K]2 years ago
3 0

Answer and Explanation:

As given in the question, percentage of estimated warranty expense is 4% of Lynx, 7% of Puma and 6% of Jag sales.

Therefore, estimated warranty expense for the current year for Arctica will be:

4% × 80000 = 3200

7% × 60000 = 4200

6% × 105000 = 6300

Total 13700

2. Adjusting entry:

Warranty expense    Dr. 13700

To Warranty expense Liability     13700

( Being estimated liability recorded)

3. Warranty Expense Liability   Dr. 700

To Inventory     700

( Being replacement cost recorded)

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The price of bread goes up. What happens to DEMAND for butter?
nikklg [1K]

Answer:

A. The demand curve shifts to the left

Explanation:

Bread and butter are compliment goods. They offer the consumer a high utility when consumed together. An increase in demand for bread will increase the demand for butter.  Changes in the price of bread will affect the demand for butter.

An increase in the price of bread leads to a decrease in demand. Reduction in bread demand means that butter consumption will decline as there will be less bread to apply butter. A decrease in demand will prompt the demand curve to shift inwards.

3 0
3 years ago
Exceptional Electronics began operations September 1, 2019. The firm sells its merchandise for cash and on open account. Sales a
Yuliya22 [10]

Answer:

Since there is not enough room here, I prepared the general ledger, the accounts receivable ledger and the schedule of accounts receivable in an excel spreadsheet (attached).    

Explanation:

Download pdf
6 0
3 years ago
Which of the following is a current liability?
Vitek1552 [10]

Answer:

D) None of these answers are correct

Explanation:

None of the answers are correct because the definiton of current liability is a debt or obligation that has to paid off before the fiscal year ends. In other words, current liabilities are by definition short-term obligations, and all the options in the question refer to long-term obligations.

6 0
3 years ago
2. A welder and a carpenter decided to get out of the construction industry and build farm trailers instead. From building a few
Firlakuza [10]

Answer:

Answer is explained in the explanation section below.

Explanation:

Data Given:

Material Cost Per Trailer = $500

Material Cost plus Profit Per Trailer (15%)  = $500 + 75 = $575

Selling Price = $1000

Labor Cost Remaining Per Trailer = $425

Formula to Calculate the number of Trailers:

X = X1 (N^{S})

Where,

N = number of Trailers

S = Slope Parameter

X = $425

X1 = $700

So, First we need to find the slope parameter, in order to calculate the number of trailers to be built.

S = \frac{log \alpha }{log 2}

where, α = 0.85 rate of improvement.

Plugging in the values into the formula, we get:

S = \frac{log (0.85) }{log 2}

S = -0.234

Now, we can easily find the number of trailers.

X = X1 (N^{S})

Plugging in the values,

425 = 700 x (N^{-0.234})

Solving For N, we get:

N = 8.4 Trailers

N = 9 Trailers.

Hence, 9 Trailers must be built in order to realize this rate of profit.

8 0
2 years ago
Suppose that technological advancements stimulate $20 billion in additional investment spending. If the MPC = 0.6, how much will
grin007 [14]

Answer:

option (D) $50 billion.

Explanation:

Data provided in the question:

Additional investment spending = $20 billion

MPC = 0.6

Now,

Increase in aggregate demand = [1 ÷ (1 - mpc) ] × Investment

or

Increase in aggregate demand =  [1 ÷ (1 - 0.4) ] ×  $20 billion

or

Increase in aggregate demand = (1 ÷ 0.4) × $20 billion

or

Increase in aggregate demand = 2.5 × $20 billion

or

Increase in aggregate demand = $50 billion

Hence.

the correct answer is option (D) $50 billion.

5 0
3 years ago
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