A company sells computers at a selling price of 1800 each

Assignment Help Accounting Basics
Reference no: EM13567169

A company sells computers at a selling price of $1,800 each. Each computer has a 2 year warranty that covers replacement of defective parts. It is estimated that 6% of all computers sold will be returned under the warranty at an average cost of $160 each. During November, the company sold 25,000 computers, and 400 computers were serviced under the warranty during November at a total cost of $61,000. The balance in the Estimated Warranty Liability account at November 1 was $39,000. What is the company's warranty expense for the month of November?

Reference no: EM13567169

Questions Cloud

Te companys expenses were 400000 and were all cash : last year the sales at seidelman company were 600000 and were all cash sales. the companys expenses were 400000 and
Employees earn vacation pay at the rate of one day per : employees earn vacation pay at the rate of one day per month. during april 28 employees qualify for one vacation day
A company purchased some large machine on a deferred : 1. a company purchased some large machine on a deferred payment plan. the contract calls for 40000 down on january 1
My assignment is to make a source analysis of the primary : my assignment is to make a source analysis of the primary historical source which be viewed via the link
A company sells computers at a selling price of 1800 each : a company sells computers at a selling price of 1800 each. each computer has a 2 year warranty that covers replacement
The first payment will be at the end of the current year : latting corporation has entered into a 7 year lease for a building it will use as a warehouse. the annual payment
The may 31 cash receipts of 2450 included in the general : jansen companys general ledger showed a checking account balance of 24920 at the end of may 2013. the may 31 cash
What amount of interest expense is accrued at december 31 : on december 1 flatron company signed a 9000 3-month 9 note payable with the principal plus interest due on march 1 of
Assume that interest rates have increased substantially : assume that interest rates have increased substantially. would this tend to increase or decrease the market value of a

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  How much depreciation expense should be taken

Dart LLC purchased one asset during the current year, a truck used only for business. It was purchased on August 20th-- a basis of $23,000. How much depreciation expense should be taken in the current year, ignoring §179 and bonus depreciati..

  Filing status for the tax

Elly, whose husband died in Dec. 2009, maintains a household in which her dependent daughter lives. What is her filing status for the tax year 2009? (Note: Elly is the executor of her husband's estate.)

  Compute the cost of the ending inventory

Compute the cost of the ending inventory and the cost of goods sold under (1) FIFO, (2) LIFO and (3) average-cost.

  Appropriate option pricing model

The options are exercisable between January 1, 2014, and December 31, 2016, at 81% of the quoted market price on January 1, 2011, which was $16. The fair value of the 20 million options, estimated by an appropriate option pricing model, is $6 per ..

  Regular tax and tentative minimum tax

If joe and Jill choose to accelerate 50,000 of additional income into the current year, how much will their (a) regular tax and (b) tentative minimum tax increase? Joe and Jill's marginal tax rate is 35%.

  Adjusting entries are required at the end of the period to

adjusting entries are required at the end of the period to ensure that accrual accounting principles are applied. the

  Prepare journal entries for gardener corporation

The following is a list of transactions entered into during the first month of operations of Gardener Corporation, a new landscape service. Prepare in journal form the entry to record each transaction.

  Calculate the firm-s eva and mva

Calculate the firm's EVA and MVA for 2005. Assume that Cumberland had 10 million shares outstanding that the year end closing stock price was $17.25 per share, and after tax cost capital was (WACC) 12%.

  What are the effects on net income from these transactions

On April 1, Quality Corporation, a U.S. company, expects to sell merchandise to a French customer in three months, denominating the transaction in euros. On April 1, the spot rate is $1.41 per euro.

  Basics of income under absorption costing

There was no beginning inventory at 1/1/09. Production was 20 units per year in 2009-2011. Sales was 20 units in 2009, 16 units in 2010, and 24 units in 2011. Income under absorption costing for 2010 is:

  Capital budgeting emphasizes the key role management has

capital budgeting emphasizes the key role management has in value creation by taking projects and expanding the size of

  Tanner bay inc has two departments assembly and packaging

tanner bay inc. has two departments assembly and packaging. the company uses a job-order costing system and computes a

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd