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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?
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..
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 and the cost of goods sold under (1) FIFO, (2) LIFO and (3) average-cost.
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 ..
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 ensure that accrual accounting principles are applied. the
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 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%.
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.
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 in value creation by taking projects and expanding the size of
tanner bay inc. has two departments assembly and packaging. the company uses a job-order costing system and computes a
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