Aqua Construction Installs Swimming Pools

question 120

Essay

Aqua Construction installs swimming pools. They calculate that warranty obligations are 5% of gross sales. For the year just ending Aqua's gross sales were $1,500,000. Due to previous quarter recognitions, the Warranty Liability account has a credit balance of $48,700. Determine the year's total warranty liability and journalize any necessary value to establish the year's liability at December 31st.

Explain the mechanisms that move an economy from short-run to long-run equilibrium.

Identify and describe the characteristics of expansionary and recessionary gaps.

Analyze the effects of shifts in aggregate demand and aggregate supply on economic equilibrium.

Explain the role of expectations in influencing the economy's adjustment process.

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Definitions:

Supply Chain Processes

Various steps involved in producing and delivering a product or service, from raw materials to delivery to the end consumer.

Customer Order Arrival

The time when a customer's order is received by a company.

Order Communication

The methods and processes used to place, confirm, and track orders between buyers and suppliers.

Due Date Fulfillment

The ability of a company to meet the promised delivery time frames for customer orders.