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Mandarinka [93]
2 years ago
7

Dynamo Corporation manufactures toasters. Each toaster comes with a 5-year assurance-type warranty. The toasters sell for $50 ea

ch. During Year 1, Dynamo sells 500 toasters, for cash. Past experience shows that the average warranty costs are $5 each or $2,500 for these toasters. In Year 1, Dynamo pays $500 cash for warranty costs on the toasters sold that year.
Required:
Prepare Dynamo's journal entries related to the sales and warranty in Year 1.
Business
1 answer:
Leno4ka [110]2 years ago
7 0

Answer:

1.Dr Cash 25,000

Cr Sales revenue 25,000

2. Dr Warranty expense 2,500

Cr Warranty liability 2,500

3.Journal entry for actual warranty expense

Dr Warranty liability 500

Cr Cash 500

Explanation:

Preparation of Dynamo's journal entries related to the sales and warranty in Year 1.

1.Dr Cash 25,000

Cr Sales revenue 25,000

(50*500)

2. Dr Warranty expense 2,500

Cr Warranty liability 2,500

3. Dr Warranty liability 500

Cr Cash 500

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Answer:

Lucky event

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In the given scenario Keyes put all his money in one stock that doubled in 3 months.

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This is an exams of lucky event problem in determining market efficiency.

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Bernie wants to go into the business of construction contracting. Among the reasons that would probably convince Bernie to set u
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Answer:

a. its greater flexibility

Explanation:

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I hope my answer helps you.

6 0
3 years ago
Suppose the country of Stan has fixed its exchange rate to the dollar. The official exchange rate is 0.50 U.S. dollars per rupee
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Answer and Explanation:

1. At 0fficial exchange rate:

100 * 0.5 = $50

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at market exchange rate:

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2. at equilibrium exchange rate:

100 x 0.25% = $25

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Answer:

Ella can sue The Eating Club since their advertisement contains language that could indicate a preference based on sex, which is a violation of the Equal Employment Opportunity Act. The law prohibits employment discrimination based on gender, race, color, age, sexual orientation, religion, national origin, disability, political beliefs, and marital or familial status.

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3 years ago
Two years ago, the de Castellane Manufacturing Company included its employees in a profit-sharing plan in which workers receive
lina2011 [118]

Answer:

The correct answer is operant conditioning.

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