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vredina [299]
2 years ago
11

In 2017, Scranton, Inc. sold 2,000 carpets for $50 each. The carpets carry a two-year warranty for repairs. Scranton estimates t

hat repair costs will average 3% of the total selling price. What amount would be recorded in the warranty liability account as a result of selling the carpets during 2017
Business
1 answer:
vodomira [7]2 years ago
8 0

Answer:

$3,000

Explanation:

Inventory Sold   2,000*$50=$100,000

Warranty Expense $100,000*3%=$3,000

Therefore $3,000 would be reported in warranty liability account.

When any claim for warranty is reported,the liability will be set off by debiting it and corresponding effect to inventory or stores will be taken.

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In the field of quality control, the science of statistics is often used to determine if a process is "out of control". Suppose
devlian [24]

Answer:

probability = 0.008

probability = 0.0256

Explanation:

we know here probability of defective is 0.2

so probability of not defective is 1 - 0.2 = 0.8

as we know 3 item is arrive off process line in succession

so The probability that an item is defective is

as P(defective) = 0.20

as all item are independent so

probability that all three items are defective is

probability = 0.20  × 0.20  × 0.20 = 0.008

and

probability that exactly 3 of next 4 are defective

so number of way that can choose 3 out of 4 is

= \frac{4!}{3! ( 4-3)!}

= 4

so as all are independent probability is

probability = ( the number of way to choose 3 out of 4 ) × ( 3 item defective ) × ( 1 item not defective )

probability = _4 C_3 × 0.2³ × ( 1- 0.2)

probability = 4 × 0.008 × 0.8

probability = 0.0256

4 0
2 years ago
What is the future value of $375 at an interest rate of 3 percent one year from today? a. $371.75 b. $393.33 c. $386.25 d. none
IgorLugansk [536]
The future value of a current investment is calculated through the equation,
    F = P x (1 + i)^n

where F is the present value, F is the future value, i is the nominal interest rate, and n is the number of years.

Substituting the known values,
   F = ($375)(1 + 0.03)^1 = $386.25

Hence, the answer to this item is letter C. 
3 0
2 years ago
As a head of the planning commission of Midwest Motors, your job is to determine where to locate a new plant. Y
alexandr402 [8]

Answer:B

Explanation:

HOPE IT HELPS ::)))

7 0
2 years ago
In 3-4 sentences describe how economic liberty helps water the "money tree" in a free enterprise.
il63 [147K]

Answer:

It helps giving you the ability to choose what you think is best for your business

Explanation:

Vic, using the money tree metaphor is awesome in order to explain. Think about your free enterprise (let’s say… a store that sells trees!).

What you need in order to start and run a business? A place to sell those trees, employees, products, infrastructure, etc., and capital to fund all that. All that business plans and models that you will develop in order to have a successful business will require that you make economic decisions, actions. And, in order to make those decisions, you need economic liberty, which is exactly the ability one has to make economic decisions without political, economic or social blocks.

Imagine that in your region you can only sell trees with red leaves, or your trees are taxed much more than trees coming from overseas, or that employment law requires that no employee gets near a plant (who knows, it could be to prevent allergic season!). That would make super hard to develop your business right?

That’s how economic liberty could help you grow your money tree; into giving you the ability to choose what you think is best for your business.

6 0
2 years ago
A real option enables the investor to buy an option for a small initial investment, hold it until a decision point arrives, and
Degger [83]

The statement,"A real option enables the investor to buy an option for a small initial investment, hold it until a decision point arrives, and then exercise or abandon the option." is False .

<u>Explanation: </u>

A real option is to give corporate investment options to a company's executives. It is called "actual" because it usually refers to projects that involve a tangible asset rather than a financial product. Physical assets such as equipment, capital assets and the products are tangible assets.

The decision to extend or delay or wait or to leave a proposal may be real options. Real options require decisions or preferences that give people discretion and possible benefits when making financial decisions.

6 0
2 years ago
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