1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Nata [24]
3 years ago
11

During June, Vixen Company sells $850,000 in merchandise that has a one year warranty. Experience shows that warranty expenses a

verage about 3% of the selling price. Customers returned $14,000 of merchandise for warranty replacement during the month. The entry to settle the customer warranties is:
Business
1 answer:
swat323 years ago
4 0

Answer: Debit Warranty Expense $25,500; credit Estimated Warranty Liability $25,500.

Explanation:

From the question, we are informed that during June, Vixen Company sells $850,000 in merchandise that has a one year warranty and that experience shows that warranty expenses average about 3% of the selling price and that customers returned $14,000 of merchandise for warranty replacement during the month.

The entry to settle the customer warranties is to debit Warranty Expense $25,500 and then credit Estimated Warranty Liability $25,500.

The warranty expense is calculated as:

= 3% × $850,000

= 0.03 × $850,000

= $25,500

You might be interested in
You have learned from your training materials that the integration-responsiveness framework juxtaposes the opposing pressures fo
Karolina [17]

Answer:

aswer is

Explanation:

because is Hp is globally science

4 0
3 years ago
The two major types of transactions that affect the international flow of money are:
andre [41]
The two major types of transaction that affects the international flow of money are b. debits and credits.
When you say debits, it the liabilities and when you say credits its the assets. These two is the major transaction that makes a big impact to the economy.
4 0
3 years ago
Read 2 more answers
What are mutual funds? Explain the associated risks.
ipn [44]

Answer:

A mutual fund is an investment program funded by shareholders that trades in diversified holdings and is professionally managed.

Risks:

The level of risk in a mutual fund depends on what it invests in. Stocks are generally riskier than bonds, so an equity fund tends to be riskier than a fixed income fund. Plus some specialty mutual funds focus on certain kinds of investments, such as emerging markets, to try to earn a higher return. These kinds of funds also tend to have a greater risk of a larger drop in value—yet the greater the risk, the greater the reward (or potential for higher returns).

Risks of Investing in Equity Mutual Funds The below are a few key risks involved with investing in equity funds: Volatility Risk: An equity fund invests primarily in the shares of companies listed on stock exchanges. Thus, the value of an equity fund is directly related to the performance of companies, in stocks of which it has invested.

5 0
2 years ago
Megan McCoy has a bachelor's degree in business management and human resources. She has 5 years of HR experience as an HR assist
mote1985 [20]

Answer:

The correct option of this question is (B). Explanation of this answer is given below in the explanation section

Explanation:

(B) is Correct Option:

Human resource manager in an organization is responsible for planning, directing and coordinating human resource management activities such as employee compensation, employee recruitment, promotions offer to an employee, etc. The major duties of the HR manager is to manage the human resource in an organization.

Why other options are not correct

(A). Interaction with customers to provide information in response to inquiries about products and services, and to handle and resolve complaints is not the responsibility of the HRM manager. It is the responsibility of the Marketing department and customer service department. In short, the customer service and marketing department are mainly responsible to perform such activities in an organization.

(C). Analyze financial information and prepare financial reports to determine or maintain record of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization is the responsibility of the accounting department. And, accounting manager is responsible for such types of activities to perform in an organization.

(D) Supervise and coordinate the activities of clerical and administrative support workers is the responsibility of Admin (a managerial post) working in the administrative unit of an organization. Usually, at this post, first-line manager, team lead, assistant manager are working under the supervision of the administrative department.

(C) Compile and keep personnel records. Record data for each employee, such as address, weekly earnings, absences, amount of sales or production, supervisory reports on ability, and date of and a reason for termination is also a responsibility of the HRM and sales department. However, it is noted some responsibility such as employee record management is the sole responsibility of the HRM department and HRM manager. But termination of an employee, absence recording, amount of sales or production are the responsibility of other departments such as the administrative department, sales department, and marketing department, etc. However, this option is also correct in a sense only if employee management involved, otherwise, this option is not correct.

3 0
3 years ago
When budgets are used for control,
ladessa [460]

Answer:

(C) actual amounts from different years are compared.

Explanation:

Budgets are used for control. To compare the performace is necessary to have a same period, with almost the same characteristics and evaluate the actual performance. In sales for example, the bussineses has different seasons around the year, and because some sociodemographic reasons.

5 0
3 years ago
Other questions:
  • What is the present value of 10 equal payments of $16,500 to be made at the end of each year for the next 10 years?
    12·1 answer
  • How might a marketing manager for a manufacturer of turboprop engines, used in private jet planes, use the naics to help her wit
    12·1 answer
  • What are unlawful questions to ask during an interview
    14·2 answers
  • During an interview with Heidi Royce, she confessed to accepting $64,500 in kickbacks from a key supplier over the last 6 months
    11·1 answer
  • Which of the following are research and development activities?
    11·1 answer
  • In which phase of the job search cycle will you write a thank-you letter to the company following your interview?
    14·1 answer
  • TwitterMe, Inc., is a new company and currently has negative earnings. The company’s sales are $2.1 million and there are 130,00
    9·1 answer
  • You've been taking notes for your boss during his meetings with the Senior Executive for the organization. You notice that every
    8·1 answer
  • The Charade Company is preparing its Manufacturing Overhead budget for the fourth quarter of the year. The budgeted variable fac
    7·1 answer
  • Do you think that some people have difficulty talking to others face-to-face because of how prevalent texting is today? When you
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!