Answer: Debit to Product Warranty Payable
Explanation: Product Warranty Payable is a liability account that has a credit balance. To increase a liability a credit is recorded while to reduce a liability a debit is recorded to the liability.
The seller maintains the warranty as a liability and initially records a debit to its product warranty expense and a credit to its product warranty Payable.
When a repair is done on a product under warranty, the seller records a debit to the product warranty Payable to reduce it’s liability.
Also, a debit to either supplies or cash will increase the expense and assets accounts respectively which will amount to incorrect journal entries.
Answer:
comparability of data
Explanation:
Comparability of information is one attribute used only to characterize the consistency of descriptive statistics. For two factors the principle of comparability of data is especially critical to a Triad.
Secondly, the Constellation demonstrates shared data sets. Through nature, the shared data sets include information from different analytical techniques. The degree of comparability among two separate sequencing / technical methods affects the way in which sets of data can be jointly compiled, analyzed and used to help strategic thinking.
Answer:
The correct answer is option (B).
Explanation:
According to the scenario, the given data are as follows:
Par value of bond = $10,000
Coupon rate Annual = 5%
So, Coupon rate semi annual = 2.5%
Inflation rate semi annual = 2%
So, we can calculate the coupon payment for six months by using following formula:
New par value of bonds after inflation = $10,000 + ( $10,000 × 2% ) = $10,200
So, Coupon payment = New par value × Coupon rate semi annual
= $10,200 × 2.5%
= $255
Answer:
Ending inventory at retail = $902,000
Ending inventory at cost = $550,424
Explanation:
Kindly check attached picture
Answer:
$22.2222, $9.5238, respectively
Explanation:
The market-to-book ratio is given by a share's market value divided by its book value, if shares are selling for $100 on the market, the book value is:
The price to earnings ratio (PE ratio) is determined as a share's price divided by the earnings per share. Earnings per share are:
The book value per share and earnings per share are $22.2222, $9.5238, respectively
