1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
oksian1 [2.3K]
3 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:
pochemuha3 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

You might be interested in
If a firm sells a prestige product, what kind of relationship between price and quantity demanded should it expect?.
solmaris [256]

For a firm that sells a prestige product, the relationship between price and quantity demanded is a <u>positive direct relationship</u>.

<h3>Why is the relationship between demand and price of prestige products direct?</h3>

The relationship between the demand and price of prestige products is direct because prestige products tend to sell better at high prices than at low prices.

And when the quantity demanded increases, the price tends to increase.

An example of a prestige product is an old car.

Thus, for a firm that sells a prestige product, the relationship between price and quantity demanded is a <u>positive direct relationship</u>.

Learn more about the demand for prestige products at brainly.com/question/6374886

3 0
2 years ago
Identify the type of costs that would be considered incremental cost for a decision to close stores. (You may select more than o
Gemiola [76]

The incremental costs that can be deduced include the cost for materials, overhead, and labor that are associated with the actual closing process.

Incremental cost simply means the total cost that's incurred as a result of an additional unit of product that is being produced.

It's simply calculated by analyzing the additional expenses that were spent by the company. They are the cost for materials, overhead, and labor that are associated with the actual closing process.

Learn more about costs on:

brainly.com/question/24516871

6 0
2 years ago
In the short-run, the Sure-Screen T-Shirt Company is producing 500 units of output. Its average variable costs are $2.00 and its
Dmitry [639]

Answer:

the correct answer is $1,250

Explanation:

(The average variable costs + the average fixed costs) *  Production units

             =

The firms total costs

$2.00 + $0.50 =$2.50

$2.50 * 500= $1,250

GOOD LUCK

8 0
3 years ago
Assume that a speculator purchases a put option on British pounds (with a strike price of $1.50) for $0.05 per unit. A pound opt
gladu [14]

Answer:

-$1,562.50

Explanation:

Calculation to determine The highest net profit possible for the speculator based

Premium of the option = $.05 per unit * (31,250 units)

Premium of the option= -$1,562.50

Therefore Based on the information given and the above calculation The HIGHEST NET PROFIT that will be possible for the speculator will be -$1,562.50

6 0
2 years ago
ear Net Income Profitable Capital Expenditure 1 $ 14 million $ 8 million 2 18 million 11 million 3 9 million 6 million 4 20 mill
Maru [420]

Answer:

$42 Million

Explanation:

The computation of the total cash dividend is shown below:-

Year Net Income Profitable capital Expenditure Dividends

1        $14 Million       $8 Million                                   $6 Million

2        $18 Million     $11 Million                                    $7 Million

3        $9 Million      $6 Million                                     $3 Million

4         $20 Million   $8 Million                                    $12 Million

5        $23 Million    $9 Million                                    $14 Million

Total cash dividends                                                  $42 Million

8 0
3 years ago
Other questions:
  • The simple objective of financial planning is to make the best use of your resources to achieve your financial goals.
    13·1 answer
  • Parent Inc. purchased 30% of the common stock of Affiliate Co. on January 1, YR01 for $5,000 and appropriately accounted for thi
    15·1 answer
  • Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the
    5·1 answer
  • Under the georgia safety responsibility law, if you cannot satisfy a claim filed against you for damages resulting from a motor
    10·2 answers
  • How do you get the profit?
    6·1 answer
  • The latest data from the movie studios reveals that attendance at movies has declined as well as the average ticket price. How c
    8·2 answers
  • For a resource to provide a firm with the potential for a sustainable competitive advantage, it must have four attributes. Which
    13·1 answer
  • Which of the following is an example of institutional advertising?
    8·2 answers
  • Highlight the difference between progressive and regressive tax.
    5·1 answer
  • Theo bạn những xu hướng kinh doanh nhà hàng thịnh hành và phù hợp hiện nay là những xu hướng nào? Giải thích sự lựa chọn của bạn
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!