My first question is...are my general journal entries correct? Second question is...What number would be the warrant revenue for year 1? Please see attachments, Thank you! * Cengage Learni X: Cengage Learni xO Mail - Hitching X@ Plan & Schedul XA Months* My Home* CengageNOWv x* MindTap - Cen xG Landcaster Inc. X+A v2.cengagenow.comChapter 9 Objectives 4-6 Practice (NotеBookCalculatorWarranty CostsInstructionsChart of AccountsGeneral JournalInstructions(X)General JournalShaded cells have feedback.Landcaster Inc. sells its products with a 2-year service-Prepare the necessary journal entries to record:type warranty. On January 1, Year 1, Landcaster sells60 machines for $2,500 each, on account. Landcaster1. The sale of 60 machines on account on January 1determines that the machines normally sell for $2,2752. The warranty costs paid during the yeareach and the service-type warranty could be3. The warranty revenue earned in Year 1purchased for $225 per machine. In Year 1, Landcasterpays $5,000 for warranty costs.General Journal InstructionsRequired:Prepare Landcaster's journal entries relatedto the sales and warranty in Year 1.How does grading work?PAGE 1Check My WorkPreviousNextPractice Assignment Score: 34.44%All work saved.Email InstructorSave and ExitSubmit Assignment3:01 PMO Type here to searchO 1)) ENG10/30/20205>... * Cengage Learni X: Cengage Learni xO Mail - Hitching X@ Plan & Schedul XA Months* My Home* CengageNOWv x* MindTap - Cen xG Landcaster Inc. X+A v2.cengagenow.comChapter 9 Objectives 4-6 Practice (NotеBookCalculatorWarranty CostsInstructionsChart of AccountsGeneral JournalInstructions(X)General JournalShaded cells have feedback.PAGE 1Landcaster Inc. sells its products with a 2-year service-GENERAL JOURNALScore: 84/88type warranty. On January 1, Year 1, Landcaster sellsDATEACCOUNT TITLEPOST. REF.DEBITCREDIT60 machines for $2,500 each, on account. LandcasterJan. 1Accounts Receivable150,000.00determines that the machines normally sell for $2,275each and the service-type warranty could be2Sales Revenue136,500.00purchased for $225 per machine. In Year 1, LandcasterUnearned Warranty Revenue13,500.003pays $5,000 for warranty costs.Dec. 31 Warranty Expense5,000.0045Cash5,000.00Required:Prepare Landcaster's journal entries related6Dec. 31Unearned Warranty Revenue1,750.00to the sales and warranty in Year 1.Warranty Revenue8,500.00Check My WorkPreviousNextPractice Assignment Score: 34.44%All work saved.Email InstructorSave and ExitSubmit Assignment3:01 PMO Type here to searchO 1)) ENG10/30/20205>...

Unearned Warranty revenue is recognized on the straight line basis over the warranty period.

Instructions General Journal Shaded cells have feedback. PAGE 1 Landcaster Inc. sells its products with a 2-year service- GENERAL JOURNAL Score: 84/88 type warranty. On January 1, Year 1, Landcaster sells DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT 60 machines for $2,500 each, on account. Landcaster Jan. 1 Accounts Receivable 150,000.00 determines that the machines normally sell for $2,275 each and the service-type warranty could be 2 Sales Revenue 136,500.00 purchased for $225 per machine. In Year 1, Landcaster Unearned Warranty Revenue 13,500.00 pays $5,000 for warranty costs. Dec. 31 Warranty Expense 5,000.00 Cash 5,000.00 Required: Prepare Landcaster's jourmal entries related Dec. 31 Unearned Warranty Revenue 1,750.00 to the sales and warranty in Year 1. Warranty Revenue 8,500.00

Instructions General Journal Shaded cells have feedback. PAGE 1 Landcaster Inc. sells its products with a 2-year service- GENERAL JOURNAL Score: 84/88 type warranty. On January 1, Year 1, Landcaster sells DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT 60 machines for $2,500 each, on account. Landcaster Jan. 1 Accounts Receivable 150,000.00 determines that the machines normally sell for $2,275 each and the service-type warranty could be 2 Sales Revenue 136,500.00 purchased for $225 per machine. In Year 1, Landcaster Unearned Warranty Revenue 13,500.00 pays $5,000 for warranty costs. Dec. 31 Warranty Expense 5,000.00 Cash 5,000.00 Required: Prepare Landcaster's jourmal entries related Dec. 31 Unearned Warranty Revenue 1,750.00 to the sales and warranty in Year 1. Warranty Revenue 8,500.00

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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launchon-ntips%253A%252F%252Fnewconnect.mheducation.com%... R To nfor.. Scinapse | Academi. G Top 10 Soft Skills E.. (3 Universiti Teknologi. AllI Notes - Evernot. CAS MYUTM Login Page 6 UTMWIFI > Login O Sci-Hub: removing. I Other bookm ss Costing i Saved Help Save & Exit SL Romain Surgical Hospital uses the direct method to allocate service department costs to operating departments. The hospital has two service departments, Information Technology and Administration, and two operating departments, Surgery and Recovery. Service Department Operating Department Information Technology $ 34,850 Administration Recovery Surgery $ 516,070 Departmental costs $ 35,907 $ 714,110 Computer workstations Employees 38 30 69 54 34 20 80 40 Information Technology Department costs are allocated on the basis of computer workstations and Administration Department costs are allocated on the basis of employees. The total Surgery Department cost after service department allocations is closest to: Multiple…
Calendar tUntitled spre X M Delta schola x Maryland Cc x Login | Exe X 9 JPMorgan C X CengageNO x D Vlog: HANG X /takeAssignment/takeAssignmentMain.do?invoker%-D&takeAssignmentSessionLocator=&inprogress%3Dfalse Updat h NDR Southern Style Ba... yb Exercises to Get R... Q . (2g net carb!) Glu... Ultra Plush Revers... Shop | alilscribble family Ramapo Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication and Assembly. Data for the products and departments are listed below. Number of Direct Labor Hours Machine Hours Product Units Per Unit Per Unit Blinks 972 4 4 Dinks 1,877 6. All of the machine hours take place in the Fabrication department, which has an estimated overhead of $114,400. All of the labor hours take place in the Assembly department, which has an estimated total overhead of $94,200. Ramapo Company uses a single plantwide overhead rate to apply all factory overhead costs based on direct labor hours. The factory overhead…
2 Project: Company Accour X D21. 7-1 Problem Set: Module Sev X CengageNOWv2 | Online tea X Cengage Learning +| x Dw.com/ilm/takeAssignment/takeAssignmentMain.do?invoker3&takeAssignmentSessionLocator3D&inprogress%3Dfalse eBook Show Me How Current Position Analysis The following items are reported on a company's balance sheet: $365,600 Marketable securities 285,700 Accounts receivable (net) 254,900 Inventory 236,400 Accounts payable 394,000 Determine (a) the current ratio and (b) the quick ratio. Round to one declmal place. a. Current ratio b. Quick ratio Check My Work a. Divide current assets by current liabilities. b. Divide quick assets by current liabilities. Quick assets are cash, temporary investments, and receivables. Check My Work Previous ELE AD dy f4 f12 prt sc 米
合日 Document1 Q. Search in Document Home Insert Draw Design Layout References Mailings Review View + Share a A. A- E -E - E , E E Times New R... - AaBbCcDc AaBbCcDdEe AaBb( AabbCcDdEe AaBbCcDdEe AaBbCcDdEe AgBbCcDdEe AgBbCcDdEe Paste в I U - abe X, x2 Normal Heading 1 Subtle Emph.. Emphasis Styles Pane No Spacing Heading 2 Title Subtitle You are considering opening your own restaurant. To do so, you will have to quit your current job, which pays $46k per year, and cash in your life savings of $200k, which have been in a certificate of deposit paying 6% per year. You will need this $200k to purchase equipment for your restaurant operations. You estimate that you will have to spend $4k during the year to maintain the equipment so as to preserve its market value at $200k. Fortunately, you own a building suitable for the restaurant. You currently rent out this building on a month-by-month basis for $2,500 per month. You anticipate that you will spend $50k for food, $40k for extra help, and…
DA. 7-2 Project: Company Accour x D2L 7-1 Problem Set: Module Sev X CengageNOWv2 |Online tea X Cengage Learning + x ngagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker3D&takeAssignmentSessionLocator=&inprogress%3Dfalse 电手 eBook Show Me How Long-Term Solvency Analysis The following information was taken from Celebrate Company's balance sheet: Fixed assets (net) 006'86$ 000 1,471,050 Long-term liabilities Total liabilities Total stockholders' equity 1,634,500 Determine the company's (a) ratio of fixed assets to long-term liabilities and (b) ratio of liabilities to stockholders' equity. If required, round your answers to one decimal place. a. Ratio of fixed assets to long-term liabilities b. Ratio of liabilities to stockholders equity (Previous Check My Work 330 PM hp 144 114
E Managerial Accountin x B 3-1 Problem Set: Mod X * CengageNOWv2 |On x b My Questions | bartlel x * Cengage Learning Cengage Learning + A v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Update : Problem Set: Module 6 O eBook I Show Me How 1. EX.07.02.ALGO Income Statements under Absorption Costing and Variable Costing Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of capacity during 2. TMM.07,01 the first month. The following data summarize the results for July: 3. EX.07.12.ALGO Sales (18,500 units) $2,405,000 Production costs (24,000 units): 4. EX.07.05.ALGO Direct materials $1,154,400 5. TMM.07.05 Direct labor 554,400 Variable factory overhead 276,000 Fixed factory overhead 184,800 2,169,600 Selling and administrative expenses: Variable selling and administrative expenses $336,300 Fixed selling and administrative expenses 130,200 466,500…
heducation.com/ext/map/index.htmi?_con=con&ex nacbrowser30&launchuri%=Dnttps%253A %252Fbbhosted.cuny.edu%252Fwebapps%252Fportal%252Fframes. ooks Login H Module 5 Chap 1 8 H Office templates & t.. Il - Chapter 8 Saved Help Save & Exit Subr Northwest Fur Co. started 2021 with $105,000 of merchandise inventory on hand. During 2021, $540,000 in merchandise was purchased on account with credit terms of 2/15, n/45. All discounts were taken. Purchases were all made f.o.b. shipping point. Northwest paid freight charges of $8,500. Merchandise with an invoice amount of $3,400 was returned for credit. Cost of goods sold for the year was $378,000. Northwest uses a perpetual inventory system. Assuming Northwest uses the gross method to record purchases, what is the cost of goods available for sale? Multiple Choice $650,100. $639,368.
← = POTUTORIAL QUESTION 4.pdf C 2 of 3 Q 5 X PDF Topic 4 Employee Benefits.pdf x | + Ⓒ File | C:/Users/acer/Documents/UNIVERSITI%20MALAYSIA%20SABAH/SEMESTER%204%20COURSE/BP22603%20FAR%20111/CHAP... Q [E + Q ** | CD Page view | A Read aloud | Add textDraw Highlight Erase 5 Required: Calculate the amount recognised as expenses and amount disclosed as equity. QUESTION 4 At 1.1.2017, KAZA Bhd grants 80,000 share appreciation rights to employee, with service condition that the employee will still be employed in KAZA for three years. grant date, KAZA's share price is RM3.00. The rights grants have a life of five years. At 31.12.2019, employee will be received cash by KAZA based on the value of the rights on that date. At the end of years 2020 and 2021, KAZA will pay the further cash to the employee if the rights have appreciated in value. Fair value of the share appreciation rights for the five-years are as follows: Year Share price RM Dividend yield % Value of rights RM 0 3.00 1 0.81 2017…
po GENERAL-PHYSICS-1_Q2_LAS.pd x GENERAL-PHYSICS-1_Q2_LAS.pc x A ENTREPRENEURSHIP_LAS_2nd-C x O File | C:/Users/user/Downloads/ENTREPRENEURSHIP_LAS_2nd-QUARTER-for-printing.pdf ... + Page view A Read aloud T Add text V Draw Y Highlight O Erase 15 of 29 Exercise #2: COMPLETE ME Directions: Fill-in the missing items on the table. Consider the estimates below. HAKDOG CORPORATION PROJECTED MONTHLY COSTS MONTH January February March April May June СOGS ΕXPENSE MONTH July August September October November December СOGS ΕXPENSE Information for the month of January: Electric Expense Miscellaneous Expense Internet Expense P15, 000 P5, 000 P10, 000 Beginning inventory for January is P20, 000 while ending inventory is P5, 000. The total of purchases during January is P27, 000 and freight-in is P13, 000. Additional information: Past experience shows the following monthly estimates: February to May Increase of 5% from previous cost June Increase of 10% from previous cost July Increase of 5% from…
- Chapter 6 Exercise X Study the Accounting Methods XGA company that usually sells sate x New tab +| x pter 6 Exercises (Static) - education.com/ext/map/index.html?_con%3Dcon&external_browser%3D0&launchUrl=https%253A%252F%252Fnewconnect.mheducation. ation.com duct Release ADP SCM Request Service In-Process Inspection A-Trax Dashboard.. ATRONA PORTAL 6 Exercises (Static) Check my work mode : This shows what is correct or incorrect for the work you have complete A company that usually sells satellite TV equipment for $50 and two years of satellite TV service for $450 has a special, time-limited offer in which it sells the equipment for $300 and gives the two years of satellite service for "free." If the company sells one of these packages on July 1, how much revenue should the company recognize on July 1 when it delivers the equipment and receives the full price in cash? (Do not round intermediate calculations.) XAnswer is complete but not entirely correct. Sales revenue
5 X100 ry https://ng.cengage.com/static/nb/ui/evo/index.html?deploymentld-5829202317504197666520360810&eISBN=97... A S CENGAGE | MINDTAP I Chapter 4 Assignment Maria is a divorce attorney who practices law in San Francisco. She wants to join the American Divorce Lawyers Association (ADLA), a professional organization for divorce attorneys. The membership dues for the ADLA are $500 per year and must be paid at the beginning of each year. For instance, membership dues for the first year are paid today, and dues for the second year are payable one year from today. However, the ADLA also has an option for members to buy a lifetime membership today for $4,500 and never have to pay annual membership dues. Obviously, the lifetime membership isn't a good deal if you only remain a member for a couple of years, but if you remain a member for 40 years, it it's a great deal. Suppose that the appropriate annual interest rate is 8.5%. O 13 years O 15 years What is the minimum number of years that…
X SAM.gov | Home First Financial Bank Question 1- Week 5: X devry: Cost Managem X -Portal X M Inbox (17) - princessp: X X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com... A to Homework i Saved Help Save & Exit Check The following information is available for Brownstone Products Company for the month of July: Master Actual Budget Units 3,500 4,000 Sales revenue $ 54,300 $ 60,000 Variable manufacturing costs 10,000 16,000 Fixed manufacturing costs 13,000 14,000 Variable selling and administrative expenses 6,500 8,000 Fixed selling and administrative expenses 8,000 9,100 Required: 1. What was the master budget variance for July? Was this variance favorable or unfavorable? es 2. Compute the July sales volume variance and the flexible-budget variance for the month, both in terms of contribution margin and in terms of operating income. 4. Prepare pro-forma budgets for activities within its relevant range of…