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Question
Estimated Warranty Liability
Yummy Co. sold $788,000 of equipment during January under a six-month warranty.
The cost to repair defects under the warranty is estimated at 4% of the sales price. On August 15, a customer required a $217 part replacement, plus $242 of labor under the warranty.
Required:
(a) Provide the journal entry for the estimated warranty expense on January 31 for January sales.
(b) Provide the journal entry for the August 15 warranty work. If an amount box does not require an entry, leave it blank.
Identify the major risks this firm has based on the information provided. How should they handle these?
A zero coupon bond with a face value of $1,000 is issued with an initial price of $475.00. The bond matures in 25 years. What is the implicit interest, in dollars, for the first year of the bond's life?
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The new strategy involves switching from consumer to business marketing. The new strategy involves focusing on a homogeneous market.
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Sqeekers Co. issued 11-year bonds a year ago at a coupon rate of 7.7 percent. The bonds make semi annual payments and have a par value of $1,000. If the YTM on these bonds is 6 percent, what is the current bond price?
A firm has debt of $7,000, equity of $12,000, a leveraged value of $8,900, a cost of debt of 7%, a cost of equity of 14%, and a tax rate of 30%. What is the firm's weighted average cost of capital?
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