Manuel transmission sells transmissions with a 1 year

Assignment Help Accounting Basics
Reference no: EM13598345

Manuel transmission sells transmissions with a 1 year warranty in 09The company sold 1,ooo manual transmissions with sales totaling 400,000. They estimate that the product warranty is 5% of sales. in 2010 a customers transmission was repaired under warranty repair required 80.00on parts and 60.00 of labor.prepare adjusting entry to accrue the product warranty liability at 12/31/09 and prepare and entry to record the warranty repair work performed in early 2010.

Reference no: EM13598345

Questions Cloud

Compute the target selling price round answer to 2 decimal : beans corporation makes a mechanical stuffed alligator that sings the martian national anthem. the following
Macready company is considering introducing a new compact : macready company is considering introducing a new compact disc player model at a price of 105 per unit. macreadys
Compute the total estimated bill round answer to 2 decimal : benson remanufacturing rebuilds spot welders for manufacturers. the following budgeted cost data for 2011 is available
Compare and contrast the uses of financial accounting : compare and contrast the uses of financial accounting information by 1 investors and 2 creditors. in your opinion does
Manuel transmission sells transmissions with a 1 year : manuel transmission sells transmissions with a 1 year warranty in 09the company sold 1ooo manual transmissions with
Accounting is ingrained in our society and it is vital to : accounting is ingrained in our society and it is vital to our economic system in the u.s. how does this fit with your
Beka company owns equipment that cost 58240 when purchased : beka company owns equipment that cost 58240 when purchased on january 1 2008. it has been depreciated using the
How do the various investment classifications affect : how do the various investment classifications affect financial statements? what is the rationale behind the different
Journalize each transaction in a two-column journal : for the past several years emily page has operated a part-time consulting business from her home. as of june 1 2010

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the change in the number of days sales

What is the change in the number of days sales uncollected between years 2010 and 2011? According to this analysis, is the company's collection of receivables improving?

  Busy beaver corp is interested in reviewing its method of

busy beaver corp. is interested in reviewing its method of evaluating capital expenditure proposals using the

  Determining short sale

Assume you're bearish on Stock Y and decide to sell short 100 shares at the current market price of $30 per share. You earn no interest on the funds in your margin account and the cost of borrowing shares is 0.25%.

  Noncontributory pension plan

Frank Clarke, an employee of Smithson Company, was covered under a noncontributory pension plan. Frank died on April 15 2010 at age 64 and pursuant to the plan, his widow received monthly pension payments of 500 beginning May 1 2010.

  Costing method of inventory

Jaclyn is going to the company's primary bank to negotiate a line of credit and wants to show the maximum amount of income without actually changing last year's results. What costing method of inventory(variable or absorption) should she choose? W..

  Joeu2019s father died this year and joe has the option of

life insurance proceeds. joe is the beneficiary of a life insurance policy taken out by his father several years ago.

  What is the value of a bond that has a par value of 1000 a

what is the value of a bond that has a par value of 1000 a coupon of 80 annually and matures in 11 years? assume a

  Carlisle company is a manufacturer of precision surgical

carlisle company is a manufacturer of precision surgical tools. it initiated standard costing and a flexible budget on

  A companys cost of goods sold was 3000 determine net

a companys cost of goods sold was 3000. determine net purchases and ending inventory given goods available for sale

  In february one of the processing departments at whisenhunt

in february one of the processing departments at whisenhunt corporation had beginning work in process inventory of

  What amount of dividend income does ted report

What amount of dividend income does Ted report as a result of the distribution and what is Ted's income tax basis in the land received from Sherburne?

  Prepare all necessary journal entries

Company A buys 25% of the outstanding stock of Company B on January 1, 19X1, for $45,000. The book value of Company B's stock is $100,000.

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