What type of contract is with a company to service or replace a covered item that becomes damaged or inoperable during a specified period of time?
A) Service Contracts
B) Insurance Coverage
C) Damaged Good Agreement
D) Contractual Obligation
E) Company Service Agreement
A) Service Contracts
You might also like to view...
Koczela Inc. has provided the following data for the month of May:Inventories: BeginningEndingWork in process$17,000$12,000Finished goods$46,000$50,000 Additional information: Direct materials$57,000Direct labor cost$87,000Manufacturing overhead cost incurred$63,000Manufacturing overhead cost applied to Work in Process$61,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The adjusted cost of goods sold that appears on the income statement for May is:
A. $208,000 B. $206,000 C. $210,000 D. $214,000
Which of the following statements will be more effective if the numbers in it are expressed in words?
A. The company's fixed expenses totaled $15,000. B. The club will celebrate its 125th anniversary next year. C. The firm received 1000s of customer orders for its product. D. The business report has 354 pages in total.
Rewrite the following sentence using the active voice: "A new product line will be introduced by the Fireball team next week."
On September 12, Ryan Company sold merchandise in the amount of $5,800 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Ryan uses the periodic inventory system and the net method of accounting for sales. Johnson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Ryan makes on September 18 is:
A.
| Cash | 5,684 | |
| Accounts receivable | 5,684 |
B.
| Cash | 4,000 | |
| Accounts receivable | 4,000 |
C.
| Cash | 3,920 | |
| Sales discounts | 80 | |
| Accounts receivable | 4,000 |
D.
| Cash | 5,800 | |
| Accounts receivable | 5,800 |
E.
| Cash | 5,684 | |
| Sales discounts | 116 | |
| Accounts receivable | 5,800 |