Answer:
1) $240 warranty expense
2) $240 warranty liaiblity
3) zero as decreases the warranty laibility
4) 240 beginning - 209 used = 31 ending
5)
cash 6,000 debit
sales revenues 6,000 credit
--to record sale--
warranty expense 240 debit
warranty liability 240 credit
--to record prevision for warranty expenses--
warranty liability 209 debit
inventory 209 credit
--to record use of the warranty from the customer--
Explanation:
1) sales x expected warranty = 6,000 x 0.04 = 240
2) it will be for the 240 as the accounting works with double-entry
Answer:
Option (c) is correct.
Explanation:
Stephen can move 70 boxes or bake 28 cookies:
Opportunity cost of moving a box = (28 ÷ 70)
= 0.4 cookies
Opportunity cost of baking a cookie = (70 ÷ 28)
= 2.5 boxes
LeBron could move 24 boxes or bake 6 cookies:
Opportunity cost of moving a box = (6 ÷ 24)
= 0.25 cookies
Opportunity cost of baking a cookie = (24 ÷ 6)
= 4 boxes
Yes, trade is possible.
Stephen has a comparative advantage in baking cookies because of the lower opportunity cost than LeBron, so he is specialized in baking cookies.
On the other hand, LeBron has a comparative advantage in moving boxes because of the lower opportunity cost than Stephen, so he is specialized in moving boxes.
Answer:
6 - 10%
Explanation:
The full form of a TMS system is Transportation management system. It is majorly used in supply chain system in large organizations. It is considered to be one of the major technologies that is used in the supply chain management.
It is a logistic platform which used the technology to execute business plan and optimize the movements of incoming and outgoing of the goods and materials to make the shipment process more efficient and smooth.
In various studies made, it has been indicated or determined that a TMS system helps the organization to reduce the freight cost by 6 - 10 percent.
Answer:
No
Explanation:
The trial balance shows the totals of all transactions that have been recorded. It has no way of knowing if there are additional transactions that have not been recorded.