Business, 04.04.2020 12:28, giannaventura00
On January 2, 2020, Grouper Company sells production equipment to Fargo Inc. for $54,000. Grouper includes a 2-year assurance warranty service with the sale of all its equipment. The customer receives and pays for the equipment on January 2, 2020. During 2020, Grouper incurs costs related to warranties of $860. At December 31, 2020, Grouper estimates that $650 of warranty costs will be incurred in the second year of the warranty.
Required:
a. Prepare the journal entry to record this transaction on January 2, 2020, and on December 31, 2020 (assuming financial statements are prepared on December 31, 2017).b. Repeat the requirements for (a), assuming that in addition to the assurance warranty, Grando sold an extended warranty (service-type warranty) for an additional 2 years (2022â2023) for $800.
Answers: 3
Business, 22.06.2019 17:40, makayladurham19
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Business, 22.06.2019 22:10, ggg509
Which of the following tends to result in a decrease in the selling price of houses in an area? a. an increase in the population of the city or town. b. an increase in the labor costs of construction. c. an increase in the income of new residents in the city or town. d. an increase in mortgage interest rates.
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Business, 23.06.2019 01:20, suiani8
Which of the following is true about presentation methods for providing training? audiovisual techniques are most effective when they are used alone. mobile technologies include training methods such as on-the-job training, simulations, business games and case studies, behavior modeling, interactive video, and web-based training that require the trainee to be actively involved in learning. the typical users for teleconferencing include employees who are part of a workforce that spends most of its time traveling, visiting customers or various company locations and has limited time available to spend in traditional training activities. webcasting involves classroom instructions that are provided online through live broadcasts. classroom instruction is no longer a popular training method because of new technologies such as interactive video and computer-assisted instruction.
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On January 2, 2020, Grouper Company sells production equipment to Fargo Inc. for $54,000. Grouper in...
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