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Questions -
A) John Electronics Inc. started its business in 2019 and sold electronics worth $185,000 in 2019. The company provided a 2- year limited warranty for all sales. As per company estimate warranty costs would be 1% of sales in the first year and 3% of sales in the second year. By end of 2019 John Electronics Inc had already spent $1,510 on warranty repairs. MAKE all journal entries related to the warranty for 2019. Also Calculate the amount of Estimated Warranty Payable to be reported on the Balance Sheet on Dec 31, 2019.
B) John Electronics Inc. purchased inventory costing $48,000 by signing an 8-month, 6% note payable on Sept 1 2019. The note will be repaid with interest at maturity. Prepare journal entries to record the purchase of the inventory, accrual of interest on Dec 31, 2019 and the final repayment of the note at maturity.
The following data are taken from the comparative balance sheets of Fulton Company.
in 2011 nitai contributes 8 percent of his 117000 annual salary to a roth 401k account sponsored by his employer ay
Describe the most significant of these assets and liabilities. Was the difference between carrying value and fair value significant, Explain
Compute the estate tax payable by Mr. Jackson's executor if Mr. Jackson made no taxable gifts during his lifetime. Compute Mr. Jackson's taxable estate
E-trust. Online retailers want customers to trust their websites and want to alleviate any concerns potential cus- tomers may have about privacy and security. In a study investigating the factors that affect e-trust, participants were randomly ass..
trikeco a domestic corporation manufactures mountain bicycles for sale both in the united states and europe. trikeco
Discuss what you consider to be the most important factors determining the optimum level of stockholding for the company.
How can people tell you are angry, nervous, and so on - Describe a scene that you remember where you expressed yourself emotionally through physical actions.
Discuss the interrelationship of the cash flow statement to the other financial statements. In your discussion comment and explain operating activities, investing activities, and financing activities.
1.loom inc. has outstanding a 1000 face value bond with a 5 contract interest rate. the bond has 10 years remaining
On December 1, 2014, the corporation pays the investor $250. What amount does the investor include in gross income in 2014
Sorensen and Lucas decide to form a partnership, Solu Company, with the following agreed upon valuations for noncash assets
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