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ch4aika [34]
3 years ago
10

Monthly sales are $530,000. Warranty costs are estimated at 3% of monthly sales, warranties are honored with replacement product

s. No defective products are returned during the month. At the end of the month, the company should record a journal entry with a credit to:
A. Sales for $15,900.
B. Warranty Expense for $15,900.
C. Estimated Warranty Payable for $15,900.
D. Inventory for $15,900.
Business
1 answer:
bulgar [2K]3 years ago
3 0

Answer:

C. Estimated Warranty Payable for $15,900.

Explanation:

The journal entry to record the warranty expense is shown below:

Warranty expense A/c Dr $15,900

       To Estimated Warranty Payable/ Liability A/c  $15,900

(Being warranty expense is recorded)

The computation is shown below:

=  Monthly sales × warranty estimated percentage

=  $530,000 × 3%

=  $15,900

It can be estimated warranty payable or estimated warranty liability

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An electronics manufacturer in Norway has developed a training program to train its support staff in foreign markets on the repa
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Answer:

Support services.

Explanation:

An activity required for successful execution of a product or program or process is known as Support service.

4 0
3 years ago
Valentino is a patient in a nursing home for 45 days of 2017. while in the nursing home, he incurs total costs of $13,500. medic
dolphi86 [110]
A person who purchases his/her own policy can exclude the benefits from gross income. It's also good to note tat statutory limitations exist for the following amounts:
Benefits that have been collected under the employer's plan
Premiums that have been paid by the employer
benefits that have been collected from the individuals' policy. Therefore the amount Valentino may exclude will be calculated as follows;
Daily statutory amount in 2017 (360*45)   $16200
Actual cost of care                                    $13500          $16200
Less: Amount received from Medicare                           ($8000)
Equal amount of exclusion                                              ($8200)
Thus:
Valentino must include (15000-8200)=$6800 of the long-term care benefits received in his gross income.


3 0
3 years ago
Present value​ (with changing interest​ rates).
densk [106]

Answer:

present value = $12811.98

present value = $11428.17

present value = $9964.92

Explanation:

given data

injury settlement = ​$14,000

time = 3 year

opportunity cost = 3​%

opportunity cost = 7​%

opportunity cost = 12​%

solution

we will apply here Present value formula that is

present value = \frac{future\ value}{(1+r)^t} ..............................1

put here value of opportunity cost rate we get

present value = \frac{14000}{(1+0.03)^3}

present value = $12811.98

and

present value = \frac{14000}{(1+0.07)^3}

present value = $11428.17

and

present value = \frac{14000}{(1+0.12)^3}

present value = $9964.92

6 0
3 years ago
Question 9<br> A wage is a specific amount of money paid per
egoroff_w [7]

Answer:

a wage is a specific amount of money paid per business day

7 0
3 years ago
Increased government spending for investments such as highways or harbors financed by increasing the public debt would most like
zavuch27 [327]

Answer:

Complement private investment

Explanation:

7 0
3 years ago
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