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In 2020 Plumpton company started selling new computer that carried a 2-year warranty against defects. Bases on the manufacturer's recommendations, the entity estimated warranty cost as a percentage of sales
First year of warranty 3%Second year of warranty. 5%
Sales and actual warranty repairs are as follows:
2020 2021Sales 5,000,000 7,000,000Actual Warranty repairs 100,000 250,000
Problem 1: How much is the warranty expense for 2020?
Problem 2: How much is the estimated warranty liability for 2021?
Cash presents special internal control challenges. How do internal controls for cash differ for accounting systems reporting under IFRS versus U.S. GAAP?
How do you calculate Break even analysis from this information: 600 units to be produced and sold, a per unit selling price of $85
the curerent year mikes agi is 50000. mike has no miscellaneous itemzed deductions other than employment related
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Sales during the current year totaled $3060000, and net markups (markdowns) were $75000 ($111000). What is the ending inventory value at cost?
Shipyard Corp. acquired Boatworks Corp. in a Type A reorganization on October 19, 2011. On the date of acquisition, Boatworks had a deficit in its earnings and profits of $30,000.
What directing managerial function is all about and briefly describe the four elements that comprise the directing function. Provide the example
in using the internal rate of return method the internal rate of return factor was 4.0 and the equal annual cash
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