Answer:
Journal Entries
Date Accounts Titles Debit Credit
Nov 1 Warranty expense $3,120
($52,000 * 6%)
Estimated warranty payable $3,120
Nov 20 Estimated warranty payable $1,600
Cash $1,600
Dec 31 Vacation benefit expense $6,000
Vacation benefit payable $6,000
Dec 31 Employee bonus expense $1
,515
Employee bonus payable $1,515
<u>Working</u>
Bonus = 3% * (Net income-Bonus)
Let bonus= x
x = 3% * (52,000 - (1+x))
x = 0.03 * (52,000- (1+x))
x = 1560 - 1.03
1.03x = 1560
x = $1,560 / 1.03
x = $1,514.5631
Bonus= $1,515
Answer:
B. No, approval by an individual other than the requestor establishes greater accountability over inventory.
Explanation:
This step is required as it will ensure control over inventory usage.
The answer from the given options is "culture shock".
Culture shock refers to an experience an individual may have when one moves to a social domain which is not quite the same as one's own; it is likewise the individual confusion a man may feel while encountering a better approach for life because of migration or a visit to another nation, a move between social situations, or basically change to another sort of life. One of the most well-known reasons for culture shock includes people in a foreign environment or situation. Culture shock can be depicted as comprising of at least one of four particular stages: vacation, arrangement, modification, and adjustment.
Answer:
Depreciation Expense for 2018; $10,528.57
Explanation:
On January 2, 2016
machine cost = $100,000
Useful life = 10 years
Annual depreciation = ($100,000 - $6000)/10
= $9,400
By early 2018,
Carrying amount of the machine
= $100,000 - 2($9,400)
= $100,000 - $18,800
= $81,200
Useful life is reassessed to 7 years (rather than 8) with a salvage value of $7,500
Annual Depreciation = ($81,200 - $7,500)/7
= $73,700/7
= $10,528.57
Depreciation Expense for 2018; $10,528.57
Answer: 11 cars
Explanation:
Socially optimal quantity is determined where,
Demand = Marginal Social Cost
We have the demand function, now we must calculate the MSC.
We can do that as,
MSC = Marginal Private Cost + Marginal External Cost
MSC = 20 + 5q + 10
MSC = 30 + 5q
Going back to our original formula we can now solve for the socially optimal quantity as,
Demand = MSC.
100 - 5q = 20 + 2q
80 = 7q
q = 11.42
q = 11
11 is the socially optimal number of cars produced.