User Account

All Pages

What are the journal entries that kimbo corporation make

Assignment Help Financial Accounting
Reference no: EM132713211

Kimbo Corporation sold 500 widgets during 2020 at a total price of $1.4M, with a warranty guarantee that the widgets were free from any defects. The cost of the widgets sold is $600,000. The term of the assurance warranty is one year, with an estimated cost of $10,000.

Problem 1: What are the journal entries that Kimbo Corporation would make relating to the sale of the widgets and their warranty?

Reference no: EM132713211

Questions Cloud

What are the necessary consolidation entries for a January : On January 2, 2020 Davis Corp. purchased all of Kuehler's common stock for $900,000 cash. What are the necessary consolidation entries for a January
Calculate the aftertax salvage value for the equipment : Calculate the aftertax salvage value for the equipment at the end of the project. (Do not round intermediate calculations and round your answer)
Record each one in the accounting equation : Weston Western Wear (3W) has the transactions. Record each one in the Accounting Equation along with the Associated T-Accounts
What will be the size of new quarterly payments : Williams Inc. has agreed to make twenty equal quarterly payments for five years beginning August 1, 2019. What will be the size of new quarterly payments
What are the journal entries that kimbo corporation make : Kimbo Corporation, What are the journal entries that Kimbo Corporation would make relating to the sale of the widgets and their warranty?
What must be the price for phoenix industries : Moderate long-term growth rate of 5 percent. If the firm's investors expect to earn a return of 15 percent on this stock, what must be its price?
What would entry be to record the employee weekly salary : Assuming that PAYG tax is deducted at 30%, what would the entry be to record the employee's weekly salary (round amounts to the nearest dollar)
How much interest would be paying in year four : Find How much interest would you be paying in Year 4? The terms require you to amortize the loan with 7 equal end-of-year payments.
What should be the worth of the annuity : Your insurance company offered you an annuity. If you are given the first payment immediately starting today, what should be the worth of this annuity?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd