Business, 25.01.2020 03:31 lauriepdx

Early in 2020, concord equipment company sold 500 rollomatics at $6,500 each. during 2020, concord spent $20,000 servicing the 2-year assurance warranties that accompany the rollomatic. all applicable transactions are on a cash basis.
a) prepare 2020 entries for concord.
assume that concord estimates the total cost of servicing the warranties in the second year will be $40,000
b) prepare 2020 entries for concord assuming that the warranties are not an integral part of the sale (a service-type warranty).
assume that of the sales total, $61,000 relates to sales of warranty contracts. warranty costs incurred in 2020 were $20,000. estimate revenues to be recognized on a straight-line basis.

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 08:30

What has caroline's payment history been like? support your answer with two examples

Answers: 3

Answer

Business, 22.06.2019 09:50

phillips, inc. had the following financial data for the year ended december 31, 2019. cash $ 41,000 cash equivalents 75,000 long term investments 59,000 total current liabilities 149,000 what is the cash ratio as of december 31, 2019, for phillips, inc.? (round your answer to two decimal places.)

Answers: 3

Answer

Business, 22.06.2019 10:30

What are the positive environmental trends seen today? many industries are taking measures to reduce the use( _gold,carbon dioxide,ozone_) of -depleting substances and are turning to(_scarce,renewable,non-recyclable_) energy sources though they may seem expensive. choose one of those 3 option to fill the

Answers: 3

Answer

Business, 22.06.2019 20:10

Your sister is thinking about starting a new business. the company would require $375,000 of assets, and it would be financed entirely with common stock. she will go forward only if she thinks the firm can provide a 13.5% return on the invested capital, which means that the firm must have an roe of 13.5%. how much net income must be expected to warrant starting the business? a. $41,234b. $43,405c. $45,689d. $48,094e. $50,625

Answers: 3

Answer

You know the right answer?

Early in 2020, concord equipment company sold 500 rollomatics at $6,500 each. during 2020, concord s...

Questions