Answer:
Situation 1 is a probably contingency. This recall is occurring and can be estimated as costing $2 million. This amount should be charge to the warranties payable and warranties expense accounts.
Date
Particulars
Ref.no
Debit $
Credit $
Warrantee expenses
20,00,000
Warranty payable account
20,00,000
[To record the estimated claims]
Comment
Step 3 of 3
Situation 2 is a reasonable contingency. The costs are possible and there are rough estimates for cleanup but there are also rough estimates about reimbursements for property damage. This situation would be disclosed on the balance sheet.
Situation 3 is a remote contingency. There is a small change that there could be property damage but there is no way to determine how much or what the costs could be. There is no amount marked down for this situation
Explanation:
Answer:
The final step is responding.
A leadership is best described as the ability to influence a group toward the achievement of a vision or set of goals.
<h3>What is a
leadership?</h3>
In a formal setting, this refers to individual ability to influence, lead and guide others people to accomplish a predetermined mission in the manner desired.
Hence, it is best described as the ability to influence a group toward the achievement of a vision or set of goals.
Therefore, the Option D is correct.
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Answer:
$544
Explanation:
LIFO means last in first out. It means it's the last purchased inventory that is the first to be sold.
The cost of the 250 units sold would be first deducted from the inventory purchased on the 25th
= 100 × 2.34 = $234
That leaves 250 - 100 = 150 units.
The cost of goods sold would be next allotted to the inventory purchased on the 9th
= 50 × 2.20 = $110
This leaves 150 - 50 = 100
The cost of the 100 would be alloted to the beginning inventory
100 × $2 = $200
Total cost of goods sold = $200 + $110 + $234 = $544
I hope my answer helps you
It should be noted that the generic action option that serves as outgrowth of affirmative action programs is include/exclude action.
This generic action option gives attempts in increasing or decreasing the number of diverse people throughout an organization .
<h3>What is generic action option?</h3>
generic action can be regarded as an action which serves as generic delegate that is present in System namespace.
Learn more about generic action option at:
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