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3 years ago

Does accounts receivable go on the income statement.

Business

1 answer:

Olin [163]3 years ago

5 0

Answer:

no they are balance sheet items

Explanation:

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Werner Inc. sells its products with a 2-year warranty. On December 31, 2017, Werner recognized estimated warranty-related costs

hoa [83]

Answer:

A DEBIT to Estimated warranty liability

Explanation:

Based on the information given we were told that the company recognized an estimated warranty of the amount of $54,000 for its 2017 sales in which the year 2018 the company also repair costs of the amount of $21,000 which is related to products sold during the year 2017 which means that The journal entry to record the cost of repairs would include a debit to ESTIMATED WARRANTY LIABILITY .

6 0

3 years ago

What is the purpose of the community safety education act

murzikaleks [220]

Answer:

It covers the instruction on interaction with law enforcement, to the Texas Education Code (TEC). The legislation requires the State Board of Education (SBOE) to adopt rules to include the instruction developed under TEC, §28.012, in one or more courses in the required curriculum for students in grades 9-12

Explanation:

It requires teaching on the the instruction on interaction with law enforcement for students in grades 9-12.

6 0

4 years ago

Read 2 more answers

Suppose a tax of $1 per unit is imposed on a good. The more elastic the supply of the good, other things equal:

AlladinOne [14]

Answer:

c. the larger is the deadweight loss of the tax.

Explanation:

Supply is elastic if a small change in price has a greater effect on quantity supplied.

If a tax is imposed, and supply in elastic, the quantity supplied would fall.

Deadweight loss is when quantity supplied reduces as a result of tax.

If supply is elastic, the larger is the deadweight loss of the tax.

I hope my answer helps you

3 0

3 years ago

Karl opens a savings account with $2500. He deposits $1500 every year into the account that has a 0.75% interest rate, compounde

zhuklara [117]

Answer:

Total FV= $29,335.25

Explanation:

<u>First, we need to calculate the future value of the initial investment ($2,500) using the following formula:</u>

FV= PV*(1 + i)^n

PV= $2,500

i= 0.0075

n=10*12= 120 months

FV= 2,500*(1.0075^120)

FV= $6,128.39

<u>Now, the future value of the $1,500 annual deposit:</u>

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

We need to determine the effective annual rate:

Effective annual rate= (1.0075^12) - 1= 0.0938

FV= {1,500*[(1.0938^10) - 1]} / 0.0938

FV= $23,206.86

Total FV= $29,335.25

5 0

3 years ago

The composition of the Fingroup Fund portfolio is as follows: Stock Shares Price A 320,000 $ 40 B 420,000 45 C 520,000 10 D 720,

Alja [10]

Answer:

The correct answer is $7.94.

Explanation:

According to the scenario, the computation of the given data are as follows:

Total value of shares = ( 320,000 × $40 ) + ( 420,000 × $45) + (520,000 × $10) + 720,000 × $15)

= $12,800,000 + $18,900,000 + $5,200,000 + $10,800,000

= $47,700,000

So we can calculate the net asset value by using following method:

Net asset value = (Total value - Expenses ) ÷ Shares Outstanding

By putting the value, we get

= ( $ 47,700,000 - $ 40,000) ÷ $6,000,000

= $7.94

3 0

3 years ago