The two days Lauren doesn't receive pay would be $150 × 2 = $300
Add on the cost of transportation & lodging: $300 + $250 = $550
Finally, add the cost of the concert ticket: $550 + $50 = $600
The opportunity cost of Lauren's decision to attend the concert is $600.
Answer:
Debit Estimated Warranty Liability $14,000; credit Merchandise Inventory $14,000.
Explanation:
The journal entry is shown below:
Estimated Warranty Liability A/c Dr $14,000
To Merchandise Inventory $14,000
(Being the customer warranties is settled)
Since we have to settle the customer warranties, so we debited the estimated warranty liability account and credited the merchandise inventory account
Hence, all other options are wrong except last one
Answer:
paid $.25 per share per quarter for the past year
Explanation:
A stock is ownership rights purchased by investors in a public company. Holders of stock are called stockholders and they are regarded as owners of the company.
Stockholders are paid dividends. Dividends are a proportion of a company's profits paid to shareholders.
If the stock's dividend is $1, it means it either paid $1 the past year or paid $.25 per share per quarter for the past year
Answer:
$8,870
Explanation:
Calculation to determine the balance in the allowance for doubtful accounts after bad debt expense is recorded
Using this formula
Balance in the allowance for doubtful accounts=
(Credit sales* Percentage of Credit sales)+Allowance for doubtful accounts credit balance
Let plug in the formula
Balance in the allowance for doubtful accounts= ($458,000*1.5%)+$2,000
Balance in the allowance for doubtful accounts=$6,870+$2,000
Balance in the allowance for doubtful accounts=$8,870
Therefore the balance in the allowance for doubtful accounts after bad debt expense is recorded will be $8,870
Answer:
The correct answer is:
(1) $15,054
(2) $12,990
Explanation:
The required table is not given in the question. Please find below the attachment of the table.
Given:
Future value,
= $30,000
If discounting rate is 9%, the present value will be:
= 
= 
= 
= 
($)
If discounting rate is 11%, the present value will be:
= 
= 
= 
= 
($)
