Answer:
The amount of $224,000 should Blevert report as a liability at December 31, 2017
Explanation:
For computing the liability amount, we have to do the following calculations which is shown below:
= (Total sales value over the three year × sum of estimated warranty cost percentage for three year) - total warranty expenditure
= {$4,000,000 × (1% + 3% + 5%)} - ($136,000)
= {$4,000,000 × 9%} - ($136,000)
= $360,000 - $136,000
= $224,000
Answer: See explanation
Explanation:
1. Determine the authorized shares.
The authorized share simply refers to the maximum number of shares that can be issued by a particular company. In this case, the authorised share is 212000.
2. Determine the issued shares.
The issued share simply means the shares sold. In this case, the answer is 145000 shares.
3. Determine the outstanding shares.
The outstanding shares will be:
= 145000 - 15000
= 130000
For example, a business might be willing to absorb lower profits and even losses in the present to strengthen its position and increase its market share so that it can earn higher profits in the future.
Answer:
Please refer to the below;
Explanation:
Difference between Floor inspection and Functional inspection.
• Floor inspection is usually conducted in a production environment. It involves checking of materials while processing in the machine by inspectors. Rather than checking the materials in the machine at the beginning of production, floor inspection checks the materials while in process inorder to ensure that the defected ones are quickly detected and expunged. It also ensure that the equipments used in processing are properly functioning.
• Functional inspection is an inspection that checks the overall function of a product rather than what makes up the component parts. For instance the load capacity and speed of a vehicle can be checked for optimal performance whereas individual parts that make up the vehicle are not checked, yet bring out satisfactory performance when combined together. This form of inspection is concerned with verification of final output and does not provide details about different sections instead provides a wider understanding of comfort that emanate from inspecting same item.
Points of Convergence between Floor inspection and Functional inspection.
• The key objective of both floor and functional inspection is quality output having reviewed and examined their expectations.
• Both floor and functional inspection work to prevent defective product from flowing down the successive operations and avoid loss to the company
• Both floor and functional inspection aim at meeting customers requirements, wants and needs.
