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A company sells leaf blowers for $170 each. Each unit has a 3 year warranty that covers replacement of defective parts. It is estimated that 4% of all leaf blowers sold will be returned under the warranty at an average cost of $30 each. During October, the company sold 400,000 leaf blowers. 800 leaf blowers were serviced under the warranty during October at a total cost of $25,000. The balance in the Estimated Warranty Liability account on October 1 was $12,500. What is the company's warranty expense for the month of October?
A. $24,000
B. $25,000
C. $37,500
D. $467,500
E. $480,000
During 2014, Shipley distributed a dividend in the amount of $120,000 and at year-end reported a $320,000 net income. Any difference between implied and book value relates to subsidiary goodwill. Pioneer Company uses the equity method to record it..
1. If the parent's net income reflected use of the equity method, what were the consolidated retained earnings on December 31, 2010?
montgomery amp co. a well established law firm provided 500 hours of its time to fink corporation in exchange for 1000
Assume that a bank faces a balance sheet illustrated below, and the required reserve ratio is 20 percent.
montgomery company purchased an electric wax melter on april 30 2013 by trading in its old gas model and paying the
Cactus does not make any distributions during 2008, but had $200,000 of ordinary income. In 2009, ordinary income was $100,000 and distributions were $100,000. What is Tex's ordinary income for 2009?
Under the modified accrual basis of accounting, revenues are recognized in the period:
Post beginning balances in ledger accounts (t-accounts) from the December 31, 2009 post-closing trial balance. Prepare journal entries to record each transaction for DeeDee's Designs. (A general journal is provided. Multiple pages will be needed.)
Current present value
In terms of the question above, do you think SOX has achieved or approached the desired effect within the accounting and financial world? Please explain why or why not.
\Ms. Clara Crayola, a teacher, received a cash award of $5,000 from the Chamber of Commerce in recognition of her past accomplishments in the field of education.
Management's inventory policy is to have ending inventory equal to 1.4 times the cost of sales for the subsequent month, although it is estimated that the cost of inventory at March 31 will be $170,000.
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