Concepts for analysis 24-3 (essay) presented below are three independent situations.

situation 1: a company offers a one-year warranty for the product that it manufactures. a history of warranty claims has been compiled, and the probable amounts of claims related to sales for a given period can be determined.

situation 2: subsequent to the date of a set of financial statements but prior to the issuance of the financial statements, a company enters into a contract that will probably result in a significant loss to the company. the amount of the loss can be reasonably estimated.

situation 3: a company has adopted a policy of recording self-insurance for any possible losses resulting from injury to others by the company’s vehicles. the premium for an insurance policy for the same risk from an independent insurance company would have an annual cost of $4,000. during the period covered by the financial statements, there were no accidents involving the company’s vehicles that resulted in injury to others.

discuss the accrual or type of disclosure necessary (if any) and the reason(s) why such disclosure is appropriate for each of the three independent sets of facts above.

technology is the application of knowledge and tools to solve problems and perform tasks more efficiently. t/f

Exercise 15-7 crawford corporation incurred the following transactions. 1. purchased raw materials on account $53,000. 2. raw materials of $45,200 were requisitioned to the factory. an analysis of the materials requisition slips indicated that $9,400 was classified as indirect materials. 3. factory labor costs incurred were $65,400, of which $50,200 pertained to factory wages payable and $15,200 pertained to employer payroll taxes payable. 4. time tickets indicated that $55,000 was direct labor and $10,400 was indirect labor. 5. manufacturing overhead costs incurred on account were $81,700. 6. depreciation on the company’s office building was $8,100. 7. manufacturing overhead was applied at the rate of 160% of direct labor cost. 8. goods costing $89,400 were completed and transferred to finished goods. 9. finished goods costing $76,000 to manufacture were sold on account for $105,100. journalize the transactions. (credit account titles are automatically indented when amount is entered. do not indent manually.) no. account titles and explanation debit credit (1) (2) (3) (4) (5) (6) (7) (8) (9) (to record the sale) (to record the cost of the sale) click if you would like to show work for this question: open show work

After much consideration, you have chosen cancun over ft. lauderdale as your spring break destination this year. however, spring break is still months away, and you may reverse this decision. which of the following events would prompt you to reverse this decision? a. the marginal cost of going to cancun decreases.b. the marginal cost of going to ft. lauderdale decreases.c. the marginal benefit of going to cancun increases.d. the marginal benefit of going to ft. lauderdale decreases.