Answer and Explanation:
The computation is shown below;
a. For Warranty Expense
= Sales × Estimated Warranty Percentage%
= $4,144,400 × 0.87%%
= $36,056.28
b)
The amount that should be reported is
Opening Balance of Estimated Warranty Liability Jan. 1, 2019 $42,635
Less: Actual warranty costs in 2019 ($26,750)
Add: Warranty expense accrued in 2019 $35,056
Closing Balance of Estimated Warranty Liability Dec. 31, 2019 $50,941
Given:
Checkable deposit = $100 million
actual reserves = $12 million
required reserve ratio = 10%
100 million * 10% = 10 million
10 million - 12 million = 2 million excess reserves
D.) $2 million is the bank's excess reserves
<span>Joint ventures are modern techniques which are usually used to keep up with technological advancements and compete in the global economy. Joint ventures are composed of two or more parties that co-own a specific business, shares business risks and profits eventually together.</span>
Answer:
The answer is "$13,000".
Explanation:
In the given question, From December 31, 2019, the sum should also be $13,000 as just a liability for both the general fund. Its first village owner is $3000 as well as the second villager is $10,000, because their contingent liability is registered to a fair degree, that's why its correct answer is "$13,000".
