Answer:
C. Estimated Warranty Payable for $15,900
Explanation:
The journal entry is shown below:
Warranty expense $15,900
To Estimated warranty liability $15,900
(Being the warranty expense is recorded)
The computation is shown below:
= Monthly sales × estimated given percentage
= $530,000 × 3%
= $15,900
We simply debited the warranty expense as it increases the expenditure and credited the liabilities as it also increases the liabilities account
Answer:
c. establish a subsidiary or acquire a competitor in a new market.
Explanation:
A foreign direct investment can be referred to as investment made by a firm in one country into business interests located in another country. Foreign direct investments can be made through the establishing a subsidiary or associate company in a foreign country, acquiring a controlling interest in an existing foreign company, or a merger or joint venture with a foreign company.
Option C is therefore correct as establishing a subsidiary or acquire a competitor in a new market to attract new sources of demand is a means of foreign direct investment.
Answer:
$221,600
Explanation:
The computation of the depreciation expense for the year 2021 is as follows:
Depreciation expense is
= (Cost - Salvage value) ÷ Useful life
= ($840,300 - $87,000) ÷ 9
= $83,700 per year
Now the book value would be
= $840,300 - ($83,700 × 3 years)
= $589,200
And, finally the revised depreciation is
= ($589,200 - $146,000) ÷ 2
= $221,600
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Answer:
B
Explanation:
The sources of quantitative standards include historical experience, engineering studies, and input from operating personnel.
Answer:
A. Three performance obligations: 1. software license 2. installation support 3. technical support services
Explanation:
Under the ASU 2014-09, the obligations of the software developer includes software licensing, installation support as well as technical support services.
This is necessary because the software being developed is peculiar to the company that the software is being made for and as such would require that the software gets licensed by the appropriate council or board, assist with installing the software until personnel have been trained and/or contract expires and also provide support services for the software should it run into any problem while in use.
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