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Question - FIRE Company manufactures and sells laptops and other electronic equipment. For the year ended December 31, 2022, its sales amounted to P5,000,000. Based on past experience, FIRE accrued warranty costs during the year equal to 5% of sales. However, on January 2, 2023, upon routine inspection of its beginning inventory, FIRE discovered that certain units were missing integral parts. As a result, it revised its warranty provision to 9% of sales. The financial statements of FIRE for the year ended December 31, 2022 were authorized for issue on March 30, 2023. How much will FIRE recognize as warranty expense on its statement of comprehensive income for the year ended December 31, 2022?
Div A has a sales price of $14/unit and VC of $6/unit. What is the total transfer price Div A will charge Div B for the transfer of 1900 units
utech company bottles and distributes livit a diet soft drink. the beverage is sold for 50 cents per 16-ounce bottle to
Problem: Chaney acquires 100% of the voting shares of Roberts on January 1, 2010 in a transaction structured as an acquisition. Assume that using the acquisition method, goodwill of $2,000,000 resulted. In addition to the initial payment to Robert..
Depreciated by the units-of-activity method. What is the amount of depreciation for the second full year, during which the machine was used 6,700 hours?
Stockholders in the amount of one million dollars (half of the net income amount), what effect does this have on the statement of retained earnings?
The new shampoo is expected to generate net cash inflows of $85,000 per year for each of the 10 years. What is net present value of this investment opportunity
a. Who are major stake holders in the debate on the health warnings on cigarette packs? b. What are the main ethical issues involved in the debate?
fothergill company makes 40000 units per year of a part it uses in the products it manufactures. the unit product cost
Your friend Anne is planning to invest $700 each year for four years and will earn a rate of 6 percent per year. Determine future value of this annuity due
Assume that a taxpayer has a marginal tax rate of 33%. How much of the income from a corporate bond earning interest at a 7% rate
one of your corporate clients has approached you about whether or not its employees are required to include certain
Explain to the controller of Moon Hardware what "recourse" is and how the recourse will be reflected in Moon's financial statements after the sale of the receivables.
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