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A company sells personal computers for $2,300 each. The price includes a two-year warranty. During the current year, the company sells 400 computers. On the basis of the past experiences, the warranty costs are estimated to $230 per computer. The actual warranty costs by the company during the current year were $65,000. a.) Prepare journal entries to record the estimated warranty expense. b.) Prepare journal entries to record the warranty repair costs during the current year.
A certain airplane has two independent alternators to provide electrical power. The probability that a given alternator will fail on a 1-hour flight is .02. What is the probability that
What is the "kiddie tax" all about? What is its purpose? What "scheme" does it seek to prevent? Do you think it is really necessary? If so, why do you think it cuts off at 14?
Describe how investors report investments in equity securities when investor has controlling influence over an investee. (US GAAP)
using rhodes corporations financial statements shown below answer the following questions.a. what is the net operating
Determine the amount of manufacturing overhead that would have been applied to all jobs during the period.
Collegiate Tuxedo rents apparel throughout the year. They have experienced non-payment by about 15% of their customers with an average loss of $200. Collegiate wants to stem their losses by using an instant electronic credit check on the customer.
Percy Motors has a target capital structure of 40 percent debt and 60 percent common equity, with no preferred stock. The yield to maturity on the company's outstanding bonds is 9 percent, and its tax rate is 40 percent.
The conversion price of CRX's convertible ($1,000 par) subordinated debentures is $40 and the present market price of CRX common stock is $48.
which type of corporate information is not available to investors? dividend history forecast of cash needs for the
what is the difference between a current liability for an uncertain amount and a contingent liability? give an example
Molly, a CPA in public practice is on the board of directors of a local bank. One of Molly's clients has a $100,000 ninety day loan from the bank. Molly, while preparing the clients tax return finds that the client's revenues from their business i..
After selling the assets and paying the liabilities, the partnership has cash of $92,000. How much cash will each partner receive in the final liquidation?
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