During Year 1, its first year of operations, Benitez Co. reported sales of $620,000. At the end of Year 1, the company estimated its warranty obligation at 2% of sales. During Year 1, the company paid $8,400 cash to settle warranty claims. Which of the following statements is true?A. Cash decreased by $8,400 as a result of the accounting events associated with warranties in Year 1 B. Warranty expenses would decrease net earnings by $26,400 in Year 1.
C. All of these answers are correct
D. The warranties payable account has a balance of $8,400 at the end of Year 1

Collective bargaining provides for a representative of employees to negotiate with a representative of management over labor issues including wages. true or false?

The following pertains to smoke, inc.’s investment in debt securities: on december 31, year 3, smoke reclassified a security acquired during the year for $70,000. it had a $50,000 fair value when it was reclassified from trading to available-for-sale. an available-for-sale security costing $75,000, written down to $30,000 in year 2 because of an other-than-temporary impairment of fair value, had a $60,000 fair value on december 31, year 3. what is the net effect of the above items on smoke’s net income for the year ended december 31, year 3?

Jamie is saving for a trip to europe. she has an existing savings account that earns 3 percent annual interest and has a current balance of $4,200. jamie doesn’t want to use her current savings for vacation, so she decides to borrow the $1,600 she needs for travel expenses. she will repay the loan in exactly one year. the annual interest rate is 6 percent. a. if jamie were to withdraw the $1,600 from her savings account to finance the trip, how much interest would she forgo? .b. if jamie borrows the $1,600 how much will she pay in interest? c. how much does the trip cost her if she borrows rather than dip into her savings?