Hitzu Co. sold a copier costing $5,500 with a two-year parts warranty to a customer on August 16, 2015, for $11,000 cash. Hitzu uses the perpetual inventory system. On November 22, 2016, the copier requires on-site repairs that are completed the same day. The repairs cost $145 for materials taken from the Repair Parts Inventory. These are the only repairs required in 2016 for this copier. Based on experience, Hitzu expects to incur warranty costs equal to 3% of dollar sales. It records warranty expense with an adjusting entry at the end of each year.1) How much warranty expense does the company report in 2015 for this copier?2) How much is the estimated warranty liability for this copier as of December 31, 2015?3) How much warranty expense does the company report in 2016 for this copier?4) How much is the estimated warranty liability for this copier as of December 31, 2016?5) Prepare journal entries to record (a) the copier's sale; (b) the adjustment on December 31, 2015, to recognize the warranty expense; and (c) the repairs that occur in November 2016.
Answers: 1
Business, 22.06.2019 00:30
How did lani lazzari show her investors she was a good investment? (site 1)
Answers: 3
Business, 23.06.2019 00:30
Industrial engineers who specialize in ergonomics are concerned with designing workspace and devices operated by workers so as to achieve high productivity and comfort. a paper published in this research area reports on a study of preferred height for an experimental keyboard with large forearm-wrist support. a sample of 31 trained typists resulted in an average preferred height of 80.0 cm
Answers: 1
Business, 23.06.2019 01:30
Young owners of a sole proprietorship will likely not find financial support available from?
Answers: 2
Business, 23.06.2019 09:50
Frick (1991) claimed that computers would become so powerful that k-12 educators and students would be able to produce their own multimedia and web-based learning materials. he predicted that teachers and students would soon be able to use computer-video technology to produce their own learning materials. all it would require is time, know-how, and some funds.
Answers: 3
Hitzu Co. sold a copier costing $5,500 with a two-year parts warranty to a customer on August 16, 20...
Mathematics, 02.03.2021 09:20
English, 02.03.2021 09:20
English, 02.03.2021 09:20
Biology, 02.03.2021 09:20
Computers and Technology, 02.03.2021 09:20
Computers and Technology, 02.03.2021 09:20
Spanish, 02.03.2021 09:20
English, 02.03.2021 09:20