Early in 2020, Flint Equipment Company sold 400 Rollomatics at $6,400 each. During 2020, Flint spent $22,000 servicing the 2-year assurance warranties that accompany the Rollomatic. All applicable transactions are on a cash basis.
a. Prepare 2020 entries for Flint Equipment. Assume that Flint Equipment estimates the total cost of servicing the warranties will be $57,000 for 2 years.
b. Prepare 2017 entries for Flint Equipment assuming that the warranties are not an integral part of the sale (a service-type warranty). Assume that of the sales total, $58,000 relates to sales of warranty contracts. Flint Equipment estimates the total cost of servicing the warranties will be $57,000 for 2 years. Estimate revenues to be recognized on a straight-line basis.

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Suppose that a worker in agland can produce either 10 units of organic grain or 2 units of incense per year, and a worker in zenland can produce either 5 units of organic grain or 15 units of incense per year. there are 20 workers in agland and 10 workers in zenland. currently the two countries do not trade. agland produces and consumes 100 units of grain and 20 units of incense per year. zenland produces and consumes 50 units of grain and no incense per year. if each country made the decision to specialize in producing the good in which it has a comparative advantage, then the combined yearly output of the two countries would increase by a. 30 units of grain and 100 units of incense. b. 30 units of grain and 150 units of incense. c. 50 units of grain and 90 units of incense. d. 50 units of grain and 130 units of ince

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