answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
CaHeK987 [17]
1 year ago
6

Mark Sports Inc. sold 500 pairs of skates at $50 each in 2012. The management estimates that 4% of the skates sold will need rep

air within a year. The repair cost for each pair is $10. Which is the correct journal entry for estimating warranty liability
Business
1 answer:
In-s [12.5K]1 year ago
7 0

Answer:

Warranty repair Expense (Dr.) $200

Warranty Payable (Dr.) $200

Explanation:

The warranty expense is the estimate of probable expense that will incur due to fault in the product. The estimated repair is the 4% of skates sold. If 500 pairs of skates are sold then out of them 4% will require repair. The repair for the faulty skates will cost $10. The total cost will be $200,

500 pairs of skates * 4% * $10

You might be interested in
Zimmer-centerpulse is the world's largest producer of replacement hips and knees for orthopedic surgery. they are particularly i
mylen [45]

The correct answer is Demography

Zimmer-Centerpulse is the world’s largest producer of replacement hips and knees for orthopedic surgery. It is particularly interested in marketing in the southwestern United States, where a large aging population lives.

The demography most directly explains its continued growth.

8 0
2 years ago
Which of the following are qualities of successful business writing? Check all that apply.
Fiesta28 [93]

Answer:

The correct answer is letter "A" and "C": Focused on the concerns of the audience; Purposeful.

Explanation:

Business writing is necessary when reports of the financial situation of the company are necessary to be shared. These types of writings are characterized for being <em>objective </em>and <em>straight-to-the-point</em>. Besides, they must be <em>purposeful </em>-which implies there is a major reason why they are being written, and <em>audience orientated</em> -cover the information the audience is requesting to know.

3 0
1 year ago
Fizzzle Inc. sold a piece of equipment during the period for $230,000 and recorded a gain of $45,000 on the sale. How should thi
saw5 [17]

Answer:

The gain is subtracted from net income in the operating activities section

Explanation:

Given that

Sale value of an equipment = $230,000

And, the gain on the sale = $45,000

So by considering the above information

We can say that the Sale value of an equipment is shown in the investing activities as a cash inflow while the gain on the sale is to be subtracted from the net income in the operating activities and if there is a loss than it would be added to the net income

4 0
1 year ago
Nadine Chelesvig has patented her invention. She is offering a potential manufacturer two contracts for the exclusive right to m
Alchen [17]

Answer:

The uniform annual sales volume of the product for Nadine to be indifferent between the contracts is 7,772 units per year.

Explanation:

We have to compare the present-value of both plans to answer this question.

The Plan A has a present value of $30,000 as is an inmediate payment.

The Plan B has both an annual payment and a royalty, for a span of ten years.

The present value for Plan B is:

PV_b=\sum_{i=1}^{10}(1000+0.50q)/(1+i)^i

This can be simplified with a annuity factor for 10 years, with i=10%.

A_{10}=\frac{1-(1+i)^{-10}}{i}= \frac{1-1.1^{-10}}{0.10}\\\\A_{10}=\frac{1-0.386}{0.10}=\frac{0.614}{0.10}=6.14

Then, the PV can be calculated as:

PV_b=6.14(1,000+0.50q)\\\\PV_b=6,140+3.07q

To be indifferent, both present values have to be equal:

PV_b=PV_a\\\\6,140+3.07q=30,000\\\\q=(30,000-6,140)/3.07=23,860/3.07=7,772

The uniform annual sales volume of the product for Nadine to be indifferent between the contracts is 7,772 units per year.

6 0
1 year ago
Jefferson is interested in starting his own business. He plans to borrow money from the local bank in order to finance the busin
almond37 [142]
They will require him to submit a business plan and a financial plan. The correct option among all the options that are given in the question is option "d" or the last option. The financial plan needs to be perfect for the loan to be passed and also for the business to be successful. The local bank needs to understand the way the company will make profit and pay back the loan.
4 0
1 year ago
Read 2 more answers
Other questions:
  • Martin and jennifer are both interested in learning more about a company's cash. martin wants to know what the company's cash ba
    5·1 answer
  • Helen, who is single, is considering purchasing a residence that will provide an $18,000 tax deduction for property taxes and mo
    15·1 answer
  • Glenn is the R&amp;D manager with Quick Print Inc. The company is having a problem with one of its most popular copiers jamming.
    7·1 answer
  • Suppose Congress passes legislation that offers subsidies to orange farmers. The impact on the market for orange juice will be a
    5·1 answer
  • Shelby is considering whether to drop a product line from her business. Some administrative costs are being allocated to the pro
    8·1 answer
  • National Business Machines manufactures two models of fax machines: A and B. Each model A costs $100 to make, and each model B c
    9·1 answer
  • Tom did a competitive analysis of his company’s outdoor soap product, interviewed distributors for helpful insights on the compe
    15·1 answer
  • John, Paul, Mark, and Luke have been operating an LLC, and according to the operating agreement, the term of the LLC is set to e
    12·1 answer
  • A last-mile delivery service is looking into increasing capacity by purchasing new delivery vans. Two vans are being considered.
    7·1 answer
  • Which 3 of these areas does the Client Needs Assessment tool focus on to help gather the information needed to select the right
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!