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oksian1 [2.3K]
4 years ago
6

Nelson Industries warrants its products for one year. The estimated product warranty is 4.3% of sales. Sales were $475,000 for S

eptember. In October, a customer received warranty repairs requiring $215 of parts and $65 of labor. Required: 1. Journalize the adjusting entry required at September 30, the end of the first month of the current year, to record the estimated product warranty expense. 2. Journalize the entry to record the warranty work provided in October. If an amount box does not require an entry, leave it blank.
Business
1 answer:
pochemuha4 years ago
6 0

Answer:

Explanation:

The required journal is given below

1 Product Warranty Expense 20425 =475000*4.3%

Product Warranty Payable 20425

2 Product Warranty Payable 280

Supplies/Inventory 215

Wages Payable 65

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Company ABC operates a nail salon that specializes in artificial nails. It has two primary __________, women who get their nails
sladkih [1.3K]

Answer:

Company ABC has two primary segments.

Explanation:

Market segmentation involves splitting up an organization's clients into groups  by putting people with similar characteristics in one group.

Similar characteristics could be age,sex,level of income and even level of literacy.

By segmenting markets,an organization is able to identify the customers who contribute most to its bottom line and decide on how to deal with them so as to keep them satisfied and ensured their repeat business

7 0
3 years ago
gThe following data are available for Martin Solutions, Inc. Year 2 Year 1 Sales $1,139,600 $1,192,320 Beginning inventory 80,00
Vaselesa [24]

Answer and Explanation:

The computation is shown below;

For Year 1

Average inventory = (Beginning inventory + Ending inventory)÷ 2

= ($64,000 + $80,000) ÷ 2

= $72,000

Inventory turnover = Cost of goods sold  ÷ Average inventory

= $606,000 ÷ 72,000

= 8.4 times

Days in inventory = 365 ÷ Inventory turnover ratio

= 365 ÷ 8.4

= 43.5 days

For Year 2

Average inventory = (Beginning inventory + Ending inventory) ÷ 2

= ($80,000 + $72,000) ÷ 2

= $76,000

Inventory turnover = Cost of goods sold ÷ Average inventory

= $500,800 ÷ 76,000

= 6.6 times

Days in inventory = 365 ÷ Inventory turnover ratio

= 365 ÷ 6.6

= 55.3 days

3 0
3 years ago
Assume that a company announces an unexpectedly large cash dividend to its shareholders. In an efficient market without informat
HACTEHA [7]

Answer:

The correct option is A, abnormal price change at the announcement

Explanation:

Abnormal price increase before the announcement would only  be the case if the there was insider dealing, that is there exists information leakage.

An abnormal price decrease cannot be the case, the market prices a share based on its earnings' strength, in other words a stock with high dividends prospect is priced high.

Option D is wrong there would a price change stemming from the announcement made about large cash dividends payout

5 0
3 years ago
Companies generate income from their "regular" operations and from things like interest on securities they hold, which is called
mylen [45]

Answer:

$1,500

Explanation:

The computation of the firm operating income is shown below:

= Sales - operating cost other than depreciation - depreciation expenses

= $9,000 - $6,000 - $1,500

= $1,500

We simply deduct the operating cost and the depreciation expenses from the sales revenue amount to find out the earnings before income and taxes (EBIT) or firm operating income

6 0
3 years ago
If romeo wants to encourage more innovation among his​ employees, he should​ __________.
almond37 [142]
Romeo could do several things to encourage innovation for example by showing inventions created by other departments of his enterprise or by people in other companies either having the actual item or showing a video of it, and also by rewarding those who come up with new innovations with prizes for example. Of course, innovative ideas or better ways of doing things would also be encouraged.
8 0
3 years ago
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