Purchase Solution

Multiple choice

Not what you're looking for?

Ask Custom Question

7. National Appliance Center sells washing machines that carry a three-year warranty against manufacturer's defects. Based on company experience, warranty costs are estimated at $60 per machine. During the year, National sold 48,000 washing machines and paid warranty costs of $340,000. In its income statement for the year ended December 31, National should report warranty expense of
a. $680,000.
b. $960,000.
c. $2,200,000.
d. $2,880,000.

8. Millward Corporation's books disclosed the following information for the year ended December 31, 2011:

Net credit sales ..................................... $1,500,000
Net cash sales ....................................... 240,000
Accounts Receivable at beginning of year ............. 200,000
Accounts Receivable at end of year ................... 400,000

Millward's accounts receivable turnover is
a. 3.75 times.
b. 4.35 times.
c. 5.00 times.
d. 5.80 times.

Purchase this Solution

Solution Summary

The solution explains two multiple choice questions relating to warranty expense and accounts receivable turnover

Purchase this Solution


Free BrainMass Quizzes
Business Ethics Awareness Strategy

This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.

Social Media: Pinterest

This quiz introduces basic concepts of Pinterest social media

SWOT

This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.

Production and cost theory

Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.

Paradigms and Frameworks of Management Research

This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.