Answer:Woodmier journal $
1. Date
2021
Warranty expenses Dr 90,000
Warranty liability Cr. 90,000
Narration. Amount of warranty incurred for the year.
2021
Warranty liability Dr 90,000
Bank/Cash. Cr. 90,000
Narration. Payment of warranty expenditures.
2. No entry require
Explanation:
The warranty expenses since is a period of one year can be accounted for at the end of the year without requirements for provision at the beginning of the year. The actual warranty is debited to the income statement and the liability recognized as a creditor until payment.
The discontinuation of the sales of the product in 2021 will not affect the already incurred warranty liability and the account posting thereon in the following years.
Answer:
Accounting profit = $50
Economic profit = $10
Explanation:
Accounting profit = Revenue - Explicit cost
$60 - $10 = $50
Economic profit = Accounting profit - Opportunity cost
$50 - $40 = $10
I hope my answer helps you
Answer:
the most spend on research will be $12,000
Explanation:
given data
earn = 2% more
trading costs = 0.5%
stock portfolio = $800,000
solution
we know that here net earnings due to research is expected is
net earnings due to research = 2% - 0.5 % = 1.5 % of stock portfolio
so
spend on research is = 1.5 % of stock portfolio
spend on research is = $800,000 × 1.5%
spend on research is = $12,000
so here when we spend more than $12,000 it end up in a net loss
so the most spend on research will be $12,000
Answer:
The statement is: True.
Explanation:
<em>Helpful team members</em> are those who take advantage of their expertise to help the team achieve its goals faster or at least at the expected time. More than troublemakers they are problem solvers. Helpful team members act proactively, tend do be charismatic and enthusiastic, and motivate others to continue working towards a common goal.
Answer:
D. Maximize (outputs - inputs)
Explanation:
The input is the raw material, labor, the efforts that is used in making the product while the output is the product or the result arising from the input
The profit arises when output and the input varies from each other
i.e
Profit = Output - input
In the case where there is neither an input nor output fixed, so we have to maximize the profit i.e (output - input) but the condition is that they are different from each other
Hence, the correct option is D.
