Answer:
The gain of $8,000 is recognized and the bonds have a basis of $35,000
Explanation:
Please see attachment
Answer and Explanation:
The journal entries are shown below:
a. On Jan 31
Warranty expense Dr ($173,000 × 6%) $10,380
To Product Warranty payable $10,380
(Being the warranty expense is recorded)
For recording this we debited the warranty expense as it increased the expenses and credited the product warranty payable as it also increased the liabilities
b. On Aug 15
Product Warranty payable $397
To Supplies $230
To wages payable $167
(Being the product warranty payable is recorded)
For recording this we debited the product warranty payable as it decreased the liabilities and the supplies and wages payable is credited as it decreased the assets and increased the liabilities
Answer:
Windows Explorer is known as file manager in the MS Windows. Explanation: File Explorer is previously known as the Windows Explorer that is the file manager application which is included with the releases of Microsoft Windows OS(Operating System) from the Windows 95.
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Answer:
C. Credit Service Revenue for $45
Explanation:
The journal entry to record this given transaction is shown below:
Cash A/c Dr $45
To Service Revenue A/c $45
(Being the cash received is recorded)
At the time of receiving the cash, we debited the cash account and since the service is provided so we credited the service revenue. Both the accounts are to be credited and debited for $45
<u>Answer:</u> 8:10
<u>Reasoning:</u> 8:40 - 0:30
