Answer: Blast would debit the product warranty expense with $3,250
Explanation: The cost of repair under warranty is 10% of salea price. The sales price per unit is $50 of which 650 CDs were sold.
Therefore the product warranty expense will be (10% * ($50 * 650 CDs)) = $3,250.
Answer:
Uptown industries have to deposit today $4,145.
Explanation:
To find the final capital at the end of the third year, we use the compound interest formula:
Final Capital (FC)= Initial Capital (IC)*[(1+interest(i))]^(number of periods(n))
FC=$3000*[1+2.75%]^(12)
FC= $4,145.35
Then, Uptown industries have to deposit today $4,145.
Answer: a. $52,300 b. $12,200 c. 0 d. $40,100
Explanation:
a. Given according to the IRS regulations of loss on investment (up to $3000)
Adjusted gross income: Salary received + Interest income received + dividend income received - loss on investment based on IRS regulations
= 53300 + 1600 + 400 - 3000
= $52,300 (Adjusted gross income)
b. Based on 2019 IRS increased filing status for Single individuals, The Standard deduction amount is $12,200
c. According to the 2019 IRS announcements, There are no personal exemption amount. This was set to zero (0) under the Tax Cuts and Jobs Act.
d. Going by the simple formula of:
Taxable Income = Adjusted Gross Income - Exemption - Standard Deduction
= 52300 - 0 - 12200
= $40,100 (Taxable Income)
I hope this helps.
Question Completion:
Production outputs
Luxland Leanderland
Chips 10 4
Pretzels 10 8
Total output 20 12
Answer:
Assuming that Luxland and Leanderland specialize and trade in a way that is advantageous for both of them, the number of pretzels that Leanderland can produce will be 16.
Explanation:
a) Data and Calculations:
Specialization Output:
Luxland Leanderland
Chips 20 0
Pretzels 0 16
Total output 20 16
b) While it is acknowledged that Luxland has absolute advantage in the production of both chips and pretzels when compared to Leanderland, the total output for both economies, without specialization, remains 32 units (of both chips and pretzels). When they specialize, Leanderland's output increases to 16 units from 12. This results in total output of 36 units instead of 32 for both economies.
Answer:
b) mission statement
Explanation:
"The mission statement reflects every facet of your business: the range and nature of the products you offer, pricing, quality, service, marketplace position, growth potential, use of technology, and your relationships with your customers, employees, suppliers, competitors and the community."
Reference: Entrepreneur Media, Inc. “How to Write Your Mission Statement.” Entrepreneur, 30 Oct. 2003,
