Business, 26.07.2019 00:30, camrenp9889

Entertainment tonight, inc. manufactures and sells stereo systems that include an assurance-type warranty for the first 90 days. entertainment tonight also offers an optional extended coverage plan under which it will repair or replace any defective part for 2 years beyond the expiration of the assurance-type warranty. the total transaction price for the sale of the stereo system and the extended warranty is $3,000. the standalone price of each is $2,300 and $900, respectively. the estimated cost of the assurance-warranty is $350. the accounting for warranty wil include a
select one:
1. debit to warranty expense, $900.
2. debit to warranty liability, $350
3. credit to warranty liability, $900
4. credit to unearned warranty revenue, $900

Answers: 2

Show answers

Other questions on the subject: Business

Business, 21.06.2019 20:20, help1572

After all revenue and expense accounts have been closed at the end of the fiscal year, income summary has a debit of $2,450,000 and a credit of $3,000,000. at the same date, retained earnings has a credit balance of $8,222,600, and dividends has a balance of $125,000. required: a. journalize the entries required to complete the closing of the accounts on december 31. refer to the chart of accounts for exact wording of account titles. b. determine the amount of retained earnings at the end of the period.

Answers: 1

continue

Business, 22.06.2019 00:10, wolfycatsz74

Which of the following is a problem for the production of public goods?

Answers: 2

continue

Business, 22.06.2019 10:10, hausofharris

Karen is working on classifying all her company’s products in terms of whether they have strong or weak market share and whether this share is in a slow or growing market. what type of strategic framework is she using?

Answers: 2

continue

Business, 22.06.2019 11:40, derrion67

During 2016, nike inc., reported net income of $3,760 million. the company declared dividends of $1,022 million. the closing entry for dividends would include which of the following? select one: a. credit cash for $1,022 million b. credit dividends for $1,022 million c. debit net income for $1,022 million d. credit retained earnings for $1,022 million e. debit dividends for $1,022 million

Answers: 1

continue

Do you know the correct answer?

Entertainment tonight, inc. manufactures and sells stereo systems that include an assurance-type war...