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Question - Adorable Company owns a car dealership that it uses for servicing a car under warranty. The company's past experience with warranty claims is as follows: 50% of the cars sold in a year have zero defect, 30% of the cars sold in a year have normal defect, and 20% of the cars sold in a year have significant defect. The cost of rectifying the normal defect is P10,000 while the significant defect is P30,000. The company sold 500 cars in 2021. How much is the amount of provision for warranty in 2021?
If you decide that the items are not included in gross income, what is the legal doctrine that may disallow your position by the courts
Prepare a new income statement for the year using variable costing. Comment on the differences between the absorption costing and the variable costing
Susan is single and lives with her 2 young children. She has a salary of $75,000 and had Federal tax withheld of $10,000. Compute her tax due or refund
Amortization of excesses in periods subsequent to the purchase would affect which sections of a cash flow statement?
bark company is considering buying a machine for 240000 with an estimated life of ten years and no salvage value. the
Cost of goods manufactured for the FY 2018 was $329,000. Use this information to find the dollar amount of the FY 2018 cost of goods sold
A $5,000 promissory note payable to the order of Neptune is discounted to Bane by blank endorsement for $4,000. King steals the note from Bane and sells it to Ott, who promises to pay King $4,500. After paying King $3,000, Ott learns that King sto..
What will be Surfer Tom's monthly break-even point in units? Does this seem like a reasonable amount for him to produce and sell every month
For the month ended February 28, 2014, a company capitalized. Calculate the amount of net income that should have been reported for February
a) ABC Co. has $12,000,000 in sales, COGS 50% of sales, operating costs of $1,200,000 plus interest expense of $80,000 and depreciation expense of$40,000. Tax rate is 40%. What is their net income? If they have 1 million shares of common stock ou..
What is the maximum amount per unit that Wehner would be willing to pay to an outside supplier?
cost concept on june 10 easy repair service extended an offer of 95000 for land that had been priced for sale at
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