Warranty expense is the value associated with a faulty product repair, replacement, or refund. A warranty comes with a warranty duration in the course of which the seller or manufacturer of the good is in charge for any defects that can also appear all through the use of the product.
<h3 /><h3>Is warranty an amassed expense?</h3>
Expense Warranty (Accrual) approach – if the assurance is inseparable from the product being sold and guarantee charges are probably and can be fairly estimated, accrue these prices as a liability in the 12 months of sale.
<h3>When Should assurance fee be recorded?</h3>
Therefore, a corporation should report in the duration of the sale the estimated fee of repairing or changing the product at some point of the guarantee period. That expected price is recorded as a liability on its stability sheet and as an fee on its profits statement.
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Answer:
New price = $108
Explanation:
Given:
Old price for cleaning = $120
New discount rate = 10% = 10 / 100 = 0.1
Computation of new price for cleaning:
New price = Old price for cleaning (1-New discount rate)
New price = 120 (1-0.1)
New price = 120 (1-0.1)
New price = $108
Journal entry
Date Account Title and Explanation Debit Credit
Cash A/c Dr. $108
Service Revenue A/c $108
(Being amount received from cleaning)
Answer: As the CEO of a home appliance manufacturing company, <em><u>it lies upon us to work thoroughly while reviewing our company's strategy. </u></em>
If, while comparing our stock market valuation to that of our closest competitor, we note that our firm is currently valued at $50 billion, while our competitor is valued at $40 billion, e<u><em>ven then we shouldn't work hastily and ponder upon any conclusion. </em></u>
In such situation it'll be better if we,<em><u> compare the current valuations with past valuations to determine if we can find a trend. We should first analyze on what made us more competitive, as this strategy will help us to sustain longer in the market. </u></em>
Answer:
Substitute goods.
Explanation:
Last month sales of good Y = 50 units
With higher prices,
This month sales of good Y = 40 units
So, there is a fall in the sales of good Y with higher prices.
At the same time,
Sales of good X increases from 20 units to 40 units, even at the same price level.
Hence,
Good X and Good Y are substitute goods. This is because of the positive cross price elasticity of demand. This means that as the price of good Y increases then as a result the quantity demanded for good X increases. This indicates that there is a positive relationship between the price of good Y and the quantity demanded for good X.
Answer:
B. Their brands are built more on being unique than being a good deal.
Explanation:
Brand differentiation is about creating value (or the appearance of value). Most brands differentiate themselves on price, product offerings, or organization. For example, Dollar Shave Club entered the market by attacking its competitors on price and convenience.
Luxury brands, however, differentiate themselves by establishing some type of superiority through higher pricing. When we hear brand names like Louis Vuitton, Chanel, Gucci, Cartier, Rolex, Dior, Tiffany & Co., Burberry, Prada, and Lexus, we anticipate higher prices than their competitors but also expect authenticity, legitimacy, exclusivity, uniqueness, excellence, reliability, indulgence, or exceptional service.