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Cutters sells razors at $75 each. The razors have a 90 day warranty that requires the company to replace any nonworking razor. The Companys cost per razor is $20. The manufacturer estimates an 8% of sales dollars failure rate. In a recent month 150 razors were sold for $11,250 cash. 13 razors were replaced during the month and the beginning balance in the warranty liability account was a credit of $1,000. (A) What is the warranty expense for this month and (B) What is the month end balance in the liability account?
back mountain industries bmi has two divisions east and west. bmi has a cost-of-capital of 16.1. selected financial
critics of the sarbanes - oxley act do not believe the act will be effective at deterring accounting frauds because it
for each of the following transactions indicate whether operating o investing i or financing activities f are affected
Cardinal, LLC incurred $20,000 of startup expenses, $3,000 of organizational costs, and paid $10,000 in transfer taxes to change the title (ownership) of a building contributed by one of the LLC's members. Which of the following statements is corr..
A. The buffalo wildcats, a minor league football team, received $3000 from a fan on June 1 for 2013 season tickets. The wildcats play 10 home games. on December, 2013, the end of the fiscal year, the wildcats had played 6 home games. make the origina..
Starr Company purchased a depreciable asset for $15,000. The estimated salvage value is $10,000, and the estimated useful life is 8 years. The double-declining method will be used for depreciation. What is the depreciation expense for the 2nd year..
Pursuant to a complete liquidation, Oriole Corporation distributes to its shareholders land with a basis of $450,000 and a fair market value of $550,000. The land is subject to a liability of $600,000. What is Orioles's recognized gain or loss on ..
Compute the depreciation expense for 2011 and 2012 uder straight-line,units of activity,double-declining balance method.
While preparing Bank Reconciliation Statements will you add or deduct the following to or from the Cash Book overdraft balance?
A company sells one model of an exercise bicycle which sells for $500 each and has a $300 per unit variable cost. The company has $80,000 of fixed costs per quarter. Observe the following contribution based income statement when the company sells 500..
jakes annunal compensation is 150000. what is the maximun amount that jakes employer may contribute to a defined
grandpop and grandmom died and left 100mm to their 5 grandkids. the first kid started up a sole proprietorship with his
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