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arlik [135]
3 years ago
6

During the first year of operations, a company granted warranties on its products at an estimated cost of $8,500. The product wa

rranty expense should be recorded in the years of the expenditures to repair the products covered by the warranty payments.
True or False
Business
1 answer:
NikAS [45]3 years ago
4 0

During the first year of operations, a company granted warranties on its products at an estimated cost of $8,500. The product warranty expense should be recorded in the years of the expenditures to repair the products covered by the warranty payments.

True or False

the answer is false

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Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter’s pro
VLD [36.1K]

Answer:

raw materials    197900

accounts payable   197900

WIP   161830

factory overhead   5270

raw materials   167100

WIP   85500

factory overhead   7600

wages payables   93100

factory overhead   53000

accounts payable   53000

factory overhead   17150

acc. Dep-equipment   17150

dep expense*   14800

acc. Dep- Off Building   14800

WIP**   70965

factory overhead   70965

Finished Goods***   251747

WIP inventory   251747

Explanation:

* as the building is not related to the manufacturing process we cannot capitalized through inventory We will record as cost ofo the period therefore, depreciation expense

** the aplied overhead will be the amount of direct labor added during the period time 83%

85,500 x 83% = 85,500 * 0.83 = 70,965

*** we will have to add up the jobs cost to detemrinate how much of the work in process inventory becomes finished good

Job  Materials // Labor // Overhead

A20 $  37,740  $  19,200 + 19,200 x 0.83

A21  $ 44,320  $ 23,600 + 23,600 x 0.83

A23 $  41,770   $  27,100  + 27,100 x 0.83

Total 251,747

4 0
3 years ago
Evergreen Corporation distributes land with a fair market value of $200,000 to its sole shareholder. Evergreen's tax basis in th
Lady_Fox [76]

Answer:

True

Explanation:

As for calculating the gain or loss on distribution of any asset, in any case the company shall consider the fair market value at the time of distribution, and accordingly, the gain or loss shall be:

Fair market value - Tax basis of such asset.

Here, in the given instance

Fair market value of land = $200,000

Tax basis of land = $50,000

Thus, gain on distribution = $200,000 - $50,000 = $150,000

This will not be different in any case, whether the earnings are positive or negative.

Therefore, the statement is True

4 0
3 years ago
Which characteristics should a nurse focus on to become an effective transformational leader?
meriva

Effective communication is a critical component of successful transformational leadership in nursing.

Open, sincere communication is necessary for personnel to understand their responsibilities and the objectives they are working toward. A nurse leader's commitment to others, including the staff, families, and patients, demonstrates to others that she or he is not only in a leadership position for personal gain but also for the benefit of those being led.

These leaders empower people to share a common vision and objective for the organization rather than using their position of authority to enforce change.

To know more about communication, click here:-

brainly.com/question/22558440

#SPJ4

6 0
2 years ago
Suppose your neighbor enjoys seeing the grass in his yard grow wild and free, a practice with which you disagree. This is an exa
lara [203]

Answer:

negative consumption externality.

Explanation:

A negative externality arises when the production or consumption of a finished product or service has negative impact (cost) on a third party.

On the other hand, a positive externality arises when the production or consumption of a finished product or service has a significant impact or benefits to a third party that isn't directly involved in the transaction.

In this scenario, your neighbor enjoys seeing the grass in his yard grow wild and free, a practice with which you disagree because it poses a danger on the people around as snakes and other poisonous animals may breed or live there.

Hence, this is an example of a negative consumption externality because it's the potential of causing you harm or endangering your life.

6 0
3 years ago
Affirmative action programs a. are not imposed by federal law on employers. b. involve the recruitment, hiring, promotion, and t
Otrada [13]

Answer:

The answer is: B) involve the recruitment, hiring, promotion, and training of qualified individuals.

Explanation:

Affirmative Action Programs (AAP) are imposed by the federal government as a basic requirement for doing business with them. They were originally instituted in 1961 by President John F. Kennedy. AAP are intended to ensure all people have equal opportunities in recruitment, hire, promotion, training, and discipline in employment.

5 0
3 years ago
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