Answer: sampling
Explanation: Sampling is a statistical analytical technique where a number of observations are selected from a large population. Analysis is carried out on the sample and use to draw conclusion for the whole population.
Answer:
1. T-accounts:
Accounts Debit Credit
Accounts Receivable
Balance $4,200
Service Revenue 8,400
Cash 10,200
Accounts Debit Credit
Service Revenue
Accounts Receivable 8,400
Accounts Debit Credit
Supplies
Balance $400
Accounts Payable 2,300
Balance c/d $2,700
Accounts Debit Credit
Accounts Payable
Balance $3,500
Supplies 2,300
Cash $3,700
Balance c/d $2,100
Accounts Debit Credit
Cash Account
Balance $3,400
Accounts Receivable 10,200
Advertising $1,000
Accounts Payable 3,700
Deferred Revenue 1,100
Balance c/d $10,000
Accounts Debit Credit
Advertising Expense
Cash 1,000
Accounts Debit Credit
Accounts Payable
Cash 3,700
Accounts Debit Credit
Deferred Revenue
Balance $300
Cash 1,100
Balance c/d $1,400
Explanation:
a) Data:
General Entries:
Accounts Debit Credit
1. Accounts Receivable 8,400
Service Revenue 8,400
2. Supplies 2,300
Accounts Payable 2,300
3. Cash 10,200
Accounts Receivable 10,200
4. Advertising Expense 1,000
Cash 1,000
5. Accounts Payable 3,700
Cash 3,700
6. Cash 1,100
Deferred Revenue 1,100
b) The beginning balance of each account before the transactions is:
Cash, $3,400
Accounts Receivable, $4,200
Supplies, $400
Accounts Payable, $3,500
Deferred Revenue, $300
Answer: 1. W: Is it worth doing?,2. R: Is it real, 3. R: Is it real, 4. W: Can we win?,5.W: Can we win?-
Explanation:The R-W-W Framework is used to screen new products. R-W-W stands for:
Is it Real?
Can we Win?
Is it Worth doing? By matching each description to nthe correct R-W-W category, i have that
1) The new product would cost $12.50 to manufacture, and similar products sell for $9.00----- W: Is it worth doing?
2)Research shows that 85% of high school students enjoyed playing the new game.-----R: Is it real
3)The results of the last market survey showed only 35% of consumers were interested in the new product-----.
R: Is it real?
4)A smaller ergonomic mouse was used by 57% of data entry clerks who participated in the survey.
----W: Can we win?-
5)To manufacture the new product, the company may need to hire 10 more assemblers.-----W: Can we win?
Answer:
the journal entry to record warranty expense is:
Dr Warranty expense 30,000
Cr Warranty liability 30,000
the journal entry to record actual expenses related to product warranties:
Dr Warranty liability 10,000
Cr Cash (or inventory, or wages payable) 10,000
Depending on what type of costs are incurred by the company, the account credited will vary, e.g. if units are replaced, then inventory must be credited, or if units are repaired and only labor is used, then wages payable or cash should be credited. Since the question doesn't give us a lot of details, I credited cash.
