Diamond Electronics sells previously owned electronics. Each product carries a one-year warranty against defects. Suppose that product sales for the entire month of December are $80,000. The company expects future warranty costs to be 6% of sales. On December 31, Year 1, the company will record a:
debit to Warranty Expense for $4,800
debit to Warranty Liability for $4,800
credit to Warranty Expense for $80,000
credit to Warranty Liability for $80,000
Answers
Since the company expects future warranty costs to be 6% of sales, the estimated warranty expense for the month of December would be 6% of $80,000, which is $4,800.The correct answer is: debit to Warranty Expense for $4,800.
This amount represents the expected cost of honoring warranties for the products sold during the month. Therefore, on December 31, Year 1, the company would record a debit entry to the Warranty Expense account for $4,800. This reflects the recognition of the estimated warranty expense for the products sold in December.
There is no need to record a debit or credit entry to the Warranty Liability account on December 31, as the liability for future warranty claims has not yet been incurred. The warranty liability would be recorded when actual warranty claims are made by customers in the future.
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Related Questions
Oh.. I found my little kitty when I was Cycling in the park. I heard some noise. It was coming from a Box. When I opened it I saw a cute little kitten inside it. It was a newborn baby So I adopted it .
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In a hypothetical country, the population is expected to increase by 25% following recent legislation relaxing the barriers that restrict immigration. It is expected that the new immigrants will purchase the same goods and services as the current population does. If all other economic forces are held constant, how would this increase in population influence demand? HELPPP How Markets Work Unit Test
Answers
The increase in population would lead to an increase in demand.
As a result of the legislation which would increase population, there would be a great influx of people into the hypothetical country. As a result, there would be an increase in demand for good and services. This would lead to a rightward shift of the demand curve while the supply curve remains unchanged.
As a result of demand been greater than supply, Equilibrium price and quantity would increase.
Please check the attached image for a diagram showing increase in demand on the demand curve
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Answer:
Shift the demand curves for all goods and services to the right
Explanation:
A supply shock does not occur when: a. a drought destroys crops. b. unions push wages up. c. the Fed increases the money supply. d. an oil cartel increases world oil prices.
Answers
A supply shock does not occur when
option b. unions push wages up, as it does not directly affect the availability or cost of key inputs in an economy.
A supply shock refers to an unexpected event that disrupts the availability or cost of key inputs in an economy, leading to a significant change in the overall supply of goods and services. Let's analyze each option to determine which one does not qualify as a supply shock:
a. A drought destroying crops: This would lead to a decrease in the supply of agricultural products, resulting in higher prices and reduced availability. Since it is an unexpected event impacting the availability of a key input (crops), it qualifies as a supply shock.
b. Unions pushing wages up: While this can have implications for production costs and potentially reduce the profitability of businesses, it does not directly affect the availability or cost of inputs. Therefore, it does not qualify as a supply shock.
c. The Fed increasing the money supply: This action is related to monetary policy and affects the overall money supply in the economy. While it can have implications for inflation and purchasing power, it does not directly impact the availability or cost of inputs. Hence, it does not qualify as a supply shock.
d. An oil cartel increasing world oil prices: This leads to an increase in the cost of a critical input (oil) used in various sectors of the economy. Since it is an unexpected event affecting the cost and availability of a key input, it qualifies as a supply shock.
In summary, the option that does not qualify as a supply shock is option b. unions pushing wages up.
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11. This year, teachers can eam a $250 tax credit on money they spend in their classrooms. How will this tax credit affect the teachers' tax returns?
A. The $250 will come directly off of the amount of taxes the teachers owe.
B. The $250 will be subtracted from the teachers' gross incomes.
C.This credit will put them in higher tax brackets.
D.This credit is not big enough to make any impact on the teachers' taxes.
Answers
Answer: A. The $250 will come directly off of the amount of taxes the teachers owe.
Explanation:
When given a tax credit of a certain amount, it means that you can deduct that amount from the taxes you owe which means that the taxes you are to pay will be reduced. If you received a tax credit of $500 for instance and you owed taxes of $2,000, your taxes would become $1,500.
In this scenario therefore, with the teachers receiving a tax credit of $250, taxes that the teachers owe will be reduced by $250.
The three fundamental elements that motivate people to be fair are _____.
Answers
People are often motivated by different factors. The three fundamental elements that motivate people to be fair are equality, reciprocity, and optimization.
What are the motivation strategy?Employee motivation strategies are known to be the various tactics and acts used and also put together to keep employees inspired, engaged, etc., in terms of their responsibilities.
They are known to be the ways of motivating employees and it often varies by workforce, work environments, work cultures, etc.
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why do people care about their social status?
Answers
Answer:
because they could be very popular
Explanation:
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Personal selling can be part of ____ and involves direct spoken communication between sellers and customers
Process
Price
Promotion
Product
Answers
Personal selling can be part of Promotion and involves direct spoken communication between sellers and customers.
What is Personal selling?
Personal selling is a face-to-face sales method where a salesman uses their people abilities to convince a consumer to purchase a specific product. The salesperson tries to persuade the consumer that the product will only add value by emphasizing its different qualities.
Door-to-door sales are one of the typical forms of personal selling. To market and sell the goods/services, salespeople knock on the doors of potential clients. With their excellent interpersonal skills, they attempt to persuade people to purchase from them.
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5. What is one benefit of having a career as opposed to a job?
A:advancement
B:money
C :ability to pay bills
D :extra education
Answers
A.advancement
Answer:
the answer is A: advancement
Explanation:
I took the quiz and got 100% and the only other one that make sense is money but you get money from a job
fill in the blank: to effectively tell your business’ story, you need
Answers
To effectively tell your business story, you need a mission with supporting values.
To effectively tell your business story, it is important to have a clear mission statement that outlines your business's purpose, goals, and values. This will help you to connect with your audience and build a strong brand identity that resonates with your customers.
A mission statement provides a framework for your business story and helps you to stay focused on what is important. It can also serve as a guide for decision-making and help you to prioritize your efforts. In addition to a mission statement, it is also important to understand your target audience's needs, problems, and where they are in the buyer's journey.
This information can help you to tailor your message and create content that speaks directly to your audience. By combining a clear mission statement with an understanding of your audience, you can effectively tell your business story and build a strong, engaged customer base.
The complete question is:
Fill in the blank: to effectively tell your business story, you need ________________.
A mission with supporting values
Prospects' needs
Prospects' stage of the buyer's journey
Prospects' problems
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How can I save on insurance?.
Answers
A life insurance policy, on the other hand, enables you to amass usable wealth while you're still alive and offers your loved ones financial security in the event of your passing.
Does life insurance work like a savings account?Most people consider life insurance to be protection for their cherished ones in the event that they pass away. In addition to doing just that, life insurance also offers a number of advantages while you're still alive, such as serving as an investment vehicle that allows you to accumulate wealth and increase your savings.You can access something called "cash value" with a permanent life insurance policy, which functions similarly to a savings account. The death benefit and cash value of permanent life insurance are essentially divided into two parts. Both of these pots will be funded by your policy contributions.Your death benefit and cash value increase over time as a result. Similar to a savings account, you can later withdraw the money you've accumulated and spend it however you like. Of course, there is also a growing death benefit that you can leave to your beneficiaries after you pass away.To Learn more About life insurance policy refer To:
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Let's say Owen would like to take another loan to pay for new furniture, and the loan payment would be $325 per month. If he took this new loan, would he have excessive debt? Remember, he makes $2,500 per month and he already spends $250 on credit card payments and $400 on an auto loan.
Answers
Explanation:
325 I think buy I am not sure.
true or false: all else equal, the use of unique supplies and technology by the subsidiary will make a host government takeover more likely.
Answers
The following Statement "all else equal, the use of unique supplies and technology by the subsidiary will make a host government takeover more likely' is True.
Government is a system or group of people that governs an organized community, usually a state. In the case of its broad association definition, government usually includes the legislative, executive, and judicial branches. Government is the vehicle by which an organization's policies are enforced, as well as a mechanism for policy determination.
In many countries, government has some sort of constitution, which states its guiding principles and philosophy. Although all types of organizations have governance, the term government is often used more specifically to refer to about 200 independent national governments and their subsidiary organizations.
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Which economic effect does a central bank hope to achieve by buying back large amounts of treasury security
Answers
A. It hopes to reduce the amount of money available for lending.
Explanation:
Usually, the central bank(Federal reserve) control the supply of money in circulation in the economy so that the nation's economy would be healthy. One of the ways through which the federal reserve controls the quantity of money in circulation is by selling or purchasing of government securities through a process known as open market operation.
If the federal reserve sells government securities such as treasury bills, in large quantities, its aim is to reduce the amount or quantity of money available to commercial banks for lending, hence mop up the quantity of money in circulation.
Also, if the federal reserve buys government securities, its aim is to make more money available in large quantities to commercial banks and other institutions, hence have more cash to lend people.
The economic effect that central bank are trying to effect by the process of buying back large amounts of treasury security is bring reduction to amount of money available for lending.
Treasury notes as well as bonds are securities that brings about payment of fixed rate of interest which is usually done every six months till the security reach a stage of maturity.The central bank do buy large amounts of treasury security so that the money that can be available for lending can be reduced.Therefore, this process are put in place to balance the economy.
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During Year 1, Silver Sinks, Inc. earned $33,000 of revenue on account. Cash collections of receivables were $28,000. The remainer of the receivables were collected in Year 2. As a result of these transactions, Silver Sink will report Year 1 net income of ______.
Answers
Answer:
Net income = $33,000
Cash inflow from operating activities = $28,000
Explanation:
Given:
Earned 1st year = $33,000
Cash collections =e $28,000
Amount remain for 2nd year = Earned 1st year - Cash collections
Amount remain for 2nd year = $33,000 - $28,000
Amount remain for 2nd year = $5,000
Income must be recorded when it get.
which kind of budget will cause the largest increase in a country's national debt
Answers
Deimos Corporation has 500,000 shares of $2 par-value common stock issued and outstanding when the market price per share is $22 per share. By what amount will total equity increase when the company declares a 2:1 stock split
Answers
Answer:
Total equity will remain the same
Explanation:
A stock split is simply increasing the number of shares and at the same time reducing the par value per share.
A stock split of 2:1 means that the number of shares would double while par value reduces by half.Specifically,the number of shares would increase from 500,000 to 1,000,000 while the par value reduces from $2 per share 1/2*$2 i.e $1 each.
All in all,the there is no increase in total equity overall.
As the manager of Smith Construction, you need to make a decision on the number of homes to build in a new residential area where you are the only builder. Unfortunately, you must build the homes before you learn how strong demand is for homes in this large neighborhood. There is a 60 percent chance of low demand and a 40 percent chance of high demand. The corresponding (inverse) demand functions for these two scenarios are P = 300,000 – 400Q and P = 500,000 – 275Q, respectively. Your cost function is C(Q) = 140,000 + 240,000Q. How many new homes should you build, and what profits can you expect?
Answers
The number of new houses that will be built is 200 while the profit is $13860000.
From the information given, the expected demand function will be:
= 60% × (300000 - 400Q) + 40% × (500000 - 275Q)
= 380000 - 350Q
Therefore, P = 380000 - 350Q
Since profit is the difference between the revenue and cost. This will be:
= (380000 - 350Q) × Q - (140000 + 240000Q)
Therefore, maximizing the profit will be:
380000 - 350 × 2Q - 240000 = Q
Q = 200
Therefore, profit will be:
= (380000 - 350Q) × Q - (140000 + 240000Q)
= (380000 - 350 × 200) × 200 - (140000 + 240000 × 200)
= 13,860,000
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Select all that apply.
Information on a résumé includes each of the following:
date of birth
education
past employment
references
I should know this right now.. Btw, I NeEd aN aNsWeR NoW!!!!!!
Answers
Hope this helpssss
in database, each record is made up of a collection of columns called fields.
Answers
A database record is a collection of information about an entity, made up of columns or fields with specific details. This allows efficient storage, retrieval, and manipulation of large amounts of data.
That is accurate, indeed. A record in a database is a group of data on a particular item, such as a person, thing, or transaction. Each record is made up of several columns, sometimes called fields, that together hold details on the object in question. A database may have fields for a customer's name, address, phone number, email address, and order history, for instance. Databases can effectively store, retrieve, and modify vast volumes of information for a number of purposes by arranging the data into fields and records. Large volumes of data can be stored, retrieved, and modified effectively because to this.
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organization formed mainly by traders and manufacturers to cater for the interest of their members is
Answers
Answer:
A trade association
Explanation:
A trade association is an organization or a group founded by businesses in the same industry. A trade association is created to assist in coordinating activities that improve the welfare of its members. By uniting in an association, firms can lobby for a better business environment from the government.
A trade association allows members to bond and network. It presents an opportunity for members to strategize and exchange important business information.
Sienna wants to reconcile her bank account to check how much money she has to spend.
What does she need to do to adjust the balance in her bank statement?
While adjusting her bank statement balance, Sienna should first add 1.) ________
and then deduct 2.) _________.
1.)
- deposits in transit
- NSF fees
- bank service charges
2.)
- bank errors
- outstanding checks issued
- interest earned
Answers
1. NSF fees and service charges would be money taking out of her account. She wants to add what is being put into her account so she should add deposits in transit.
The answer is Deposits in transit.
2. Deductions is money being taken out, so she would deduct outstanding checks issued.
Answer: outstanding checks issued.
.. If two variables have a direct relationship on a graph, it indicates that
A. both variables are not related.
B. as one variable rises, the other variable falls.
C. both variables are moving in the same direction.
D. as one variable rises, the other variable is constant.
Answers
Answer:
Option C. Both variables are moving in the same direction.
Explanation:
The reason is that in the direct relationship, the variables move in the same direction which means if one of the variable increases then the other will also increase and vice versa. So the only option that satisfies this condition is option C.
Devonte is balancing his checking account. His account statement does not include a deposit of $107.00 that he made on November 1st. What is Devonte’s actual account balance?
Answers
Answer:
✓ $1,330.26
Explanation:
Answer:
$1,330.26
Explanation:
Drag each label to the correct location on the image.
Answers
A program known as a perpetual inventory system continuously estimates your inventory using electronic records rather than a physical inventory. This system starts with a physical count as the baseline and adjusts based on inbound and outbound purchases and shipments.
With an example, what is a perpetual inventory system?Your inventory balances are always tracked by a perpetual inventory system. Refreshes are consequently made when you get or sell stock. Your inventory accounts are immediately updated with all purchases and returns. A perpetual inventory system, for instance, might be used by a grocery store.
Do you use LIFO or FIFO for perpetual inventory?In perpetual FIFO, the first (or earliest) expenses are deducted from the Inventory account first and credited to the Cost of Goods Sold account last. The cost of goods sold and the cost of ending inventory will therefore be the same for both the perpetual and periodic FIFO cost flows.
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You just purchased a 12-year, $1,000 par bond with a 5.5% semi-annual coupon at a price of $895. If the yield on the bond remains constant, what should be the price of the bond in five years? A. $928.
b. $1,000 c. $1,150 d. $1,064 e. $1.100
Answers
The correct answer to the given question is option D, $1,064.First, we need to calculate the semi-annual yield rate.Using the given data, we can find the bond's annual coupon payments and yield as follows:Coupon payment = 5.5% of $1,000 = $55 Yield = Coupon / Price Yield =\(($55 x 2) / $895Yield = 0.1223 or 12.23%.\)
The bond has a semi-annual yield rate of 6.115% (12.23% / 2).In the next five years, the bond will pay ten coupons. Each coupon will be $55 ($1,000 x 5.5% x 1/2).The bond's future value can be determined using the formula\(:FV = PV x (1 + r)n + PMT x [(1 + r)n – 1 / r]\)Where,FV = Future value PV = Present value PMT = Coupon paymentr = Yield / 2n = Number of semi-annual periods\(FV = $895 x (1 + 0.06115)10 + $55 x [(1 + 0.06115)10 – 1 / 0.06115]FV = $1,063.94.\)
The price of the bond in five years would be $1,064 (rounded to the nearest dollar). Hence, option D is correct.
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Choose the best defense of the following statement: “A great communicator will practice speaking often.” a. Lots of practice will make the speaker less confident. b. Lots of practice will make the speaker’s argument more logical c. Lots of practice will make the speaker sound robotic. d. Lots of practice will make the speaker sound more natural.
Answers
Answer:
d. lots of practice will make the speaker sound more natural :)
Explanation:
Answer:
D: lots of practice will make the speaker sound more natural
Explanation: took the test
How are read and unread emails typically shown in the Inbox? *
Unread emails are shown in bold text. Read emails are shown in normal text.
Unread emails are shown in normal text. Read emails are shown in bold.
Both unread emails and read emails are shown in normal text
Both unread emails and read emails are shown in bold
Answers
Answer:
Unread emails are shown in bold text.
Explanation:
Identify at least three ways in which service automation can improve service quality and/or customer experience.
Answers
Service automation improves service quality and customer experience through enhanced efficiency and accuracy, 24/7 availability and self-service options, and personalized and customized service offerings.
Service automation can significantly improve service quality and enhance the customer experience in several ways:
Enhanced Efficiency and Accuracy: Automation eliminates human errors and improves the accuracy and consistency of service delivery. By automating routine tasks, such as data entry or order processing, the chances of errors are reduced, leading to more reliable and efficient service. This, in turn, enhances the overall quality of service and reduces customer dissatisfaction due to errors or delays.
24/7 Availability and Self-Service: Service automation enables round-the-clock availability of services and self-service options for customers. Automated systems can handle customer inquiries, provide instant responses, and even facilitate self-service transactions. This empowers customers to access services whenever they need them, without being restricted by traditional business hours. It improves convenience, reduces waiting times, and enhances the overall customer experience.
Personalization and Customization: Automation allows for the collection and analysis of customer data, which can be utilized to personalize and customize service offerings. By leveraging automation technology, businesses can gather insights into customer preferences, behaviors, and purchase history, enabling them to tailor services to individual needs. Personalized recommendations, targeted marketing campaigns, and customized service interactions contribute to a more personalized and satisfying customer experience.
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Facts about the chip category obtained from AC Nielsen are?
syndicated data.
survey data.
questionnaire data.
primary data.
experimental data.
Answers
Answer:
Explanation:
Then what is the question
What can a boosted post help an advertiser achieve?
Answers
A boosted post helps an adviser to connect with the audience and gain trust.
Boosted post is a kind of post that is used on social media platforms in order to enhance the page of the platform and to attract audience to the page. Boosted post can help better communication with the audience along with the increase in a greater number of messages, calls and texts. Boosted posts help for better advertisements of the product. For example, A Chocolate brand may use Boosted posts to gain audience as well as consumers. Boosted posts helps an adviser to be discovered among people, to establish a benchmark in the market and to gain more and more customers. It's a kind of marketing strategy used for publicity purpose.
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