No, Nadia wouldn't owe any interest on her last statement balance because she paid it in full within the grace period. A grace period is a period in which they allow someone to make a payment without being held accountable for a delay in payment making. Since Nadia paid the amount on day 17, she was within the grace period and forgiven of all interest.
Answer:
Dec. 31
Debit Warranty Expense 14,800
Credit Warranty Payable 14,800
Explanation:
Calculation to Determine the estimated warranty expense for the year
Based on the information given we were told that Florida Keys sales has the amount of $1,450,000 with 3% sales warranty obligation, and Florida keys as well had debit Warranty Expense of the amount of $28,700 this means that the Estimated warranty expense will be calculated as;
$1,450,000 * 3% =$43,500
$43,500-$28,700=$14,800
Therefore the Journal entry will be:
Dec. 31
Debit Warranty Expense 14,800
Credit Warranty Payable 14,800
Answer:
Breakeven quantity for regular coffee = 5,883
Breakeven quantity for lattes = 936
Explanation:
Breakeven quantity are the number of units produced and sold at which net income is zero
Breakeven quantity = fixed cost / price – variable cost per unit
fixed cost for lattes = 0.2 x $5,148. = $1,029.60
fixed cost for regular coffee = 0.8 x $5,148. = $4,118.40
Breakeven quantity for regular coffee = $4,118.40 / $ 1.50 - $0.8 = 5,883.4
Breakeven quantity for lattes = $1,029.60 / $ 2.80 - $ 1.70 = 936
Answer:
482.500
Explanation:
With the direct write-off method all accounts when detected as uncollectible, the amount of the client's debt is charged to the expense, while an estimate is made with the allowance method (this method is the most accepted accounting)
The direction of these methods in this case is translated in this way
allowance method 3,250,000 X 1% = 32,500.
Direct writte off 27,800
The difference between these values, which is 4,700, corresponds to a higher forecast, therefore, to a higher expense for the year, so that the net result will be reduced
Net result 487,500 minus 4,700 = 482,800
