What are important of storing

Dependable Appliances, Inc. and Elain enter into a contract for a sale of kitchen appliances. Dependable, a merchant who deals i

Anuta_ua [19.1K]

Answer:

B) fit for the ordinary purpose for which such goods are used.

Explanation:

An implied warranty of merchantability means that the products sold should fulfill an ordinary buyer's expectations and should be fit for the purpose intended.

All products carry an implied warranty of merchantability unless expressly disclaimed or identified as a sale "with all faults" or "as is".

6 0

3 years ago

Elmo Inc., a global conglomerate, designed the ElBrush, an electric toothbrush. Sensing market demand for the electric toothbrus

Alborosie

Answer:

Target costing

Explanation:

-High-low pricing is when companies initially establish a high price for a product and then, they decrease it when people are less willing to buy it.

-Everyday low pricing is when companies offer low prices on their products all the time.

-Cost-plus pricing is when companies determine the cost of the product and add the profit margin they need to establish the price of the product.

-Target costing is when companies establish a target cost for the product by taking the price and subtracting the margin they expect from it.

-Competition-based pricing is when companies use the price the competitors have for the same product to establish the price.

According to this, the answer is that the situation exemplifies target costing.

3 0

3 years ago

Fraud Investigators Inc. operates a fraud detection service. On March 31, 10 customers were billed for detection services totali

mr_godi [17]

Answer:

Fraud Investigators Inc.

1. Journal Entries:

March 31: Debit Accounts Receivable $21,000

Credit Service Revenue $21,000

To record the rendering of service on account.

Oct. 31: Debit Allowance for Uncollectible Accounts $1,300

Credit Accounts Receivable $1,300

To write-off uncollectible accounts.

Dec. 15: Debit Accounts Receivable $760

Credit Allowance for Uncollectible Accounts $760

To reverse a previously written-off account.

Dec. 15: Debit Cash $760

Credit Accounts Receivable $760

To record the cash collected from the customer.

Dec. 31: Debit Bad Debts Expense $460

Credit Allowance for Uncollectible Accounts $460

To record bad debts expense for the year.

A) Debit Accounts Receivable $34,000

Credit Service Revenue $34,000

To record the rendering of service on account.

B) Debit Allowance for Uncollectible Accounts $1,950

Credit Accounts Receivable $1,950

To write off uncollectible accounts.

C1) Debit Accounts Receivable $810

Credit Allowance for Uncollectible Accounts $810

To reverse a previously written-off debt.

C2) Debit Cash $810

Credit Accounts Receivable $810

To record the receipt of cash from the customer.

D) Debit Bad Debts Expense $590

Credit Allowance for Uncollectible Accounts $590

To record bad debts expense for the year.

2. Transaction Net Receivable Net Sales Income From Operation

A +34,000 +34,000 +34,000

B -1,950 NE -1950

C +/- 810 NE +810

D NE NE -590

Explanation:

a) Data and Analysis:

March 31: Accounts Receivable $21,000 Service Revenue $21,000

Oct. 31: Allowance for Uncollectible Accounts $1,300 Accounts Receivable $1,300

Dec. 15: Accounts Receivable $760 Allowance for Uncollectible Accounts $760

Dec. 15: Cash $760 Accounts Receivable $760

Dec. 31: Bad Debts Expense $460 Allowance for Uncollectible Accounts $460

A) Accounts Receivable $34,000 Service Revenue $34,000

B) Allowance for Uncollectible Accounts $1,950 Accounts Receivable $1,950

C1) Accounts Receivable $810 Allowance for Uncollectible Accounts $810

C2) Cash $810 Accounts Receivable $810

D) Bad Debts Expense $590 Allowance for Uncollectible Accounts $590

7 0

3 years ago

Davidson has the following transactions during January: Credit sales of $150,000, collections of credit sales of $83,000, and

Andrews [41]

Answer:

$20,000

Explanation:

When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.

To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.

However, in the direct writeoff method, estimates of uncollectible receivables are posted directly into the accounts receivable and not into the allowance account.

The amount in the accounts receivable before write off

= $150,000 - $83,000

= $67,000

Amount written of is $20,000, this will be posted as a debit to bad debt expense and a credit to accounts receivable.

7 0

3 years ago

What is the amount of the payments that Ned Winslow must make at the end of each of 8 years to accumulate a fund of $90,000 by t

nekit [7.7K]

Answer:

Amount to be paid annually by Ned Winslow = $8461.35

Explanation:

Fv = A ( 1 + r)∧n - 1

r

90,000 = A ( 1 + 0.08)∧8 - 1

0.08

90,000 = A ( 1.8509 - 1)

0.08

90,000 = 10.6366A

A = 90,000/10.6366

= $8,461.35

3 0

3 years ago

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What are important of storing​

What are important of storing