Exercise 9-10 warranty expense and liability computations and entries lo p4 hitzu co. sold a copier costing $4,800 with a two-year parts warranty to a customer on august 16, 2017, for $6,000 cash. hitzu uses the perpetual inventory system. on november 22, 2018, the copier requires on-site repairs that are completed the same day. the repairs cost $209 for materials taken from the repair parts inventory. these are the only repairs required in 2018 for this copier. based on experience, hitzu expects to incur warranty costs equal to 4% of dollar sales. it records warranty expense with an adjusting entry at the end of each year. how much warranty expense does the company report in 2017 for this copier?

Which of the following statements is correct? large corporations are taxed more favorably than sole proprietorships. corporate stockholders are exposed to unlimited liability. due to limited liability, unlimited lives, and ease of ownership transfer, the vast majority of u. s. businesses (in terms of number of businesses) are organized as corporations. most businesses (by number and total dollar sales) are organized as partnerships or proprietorships because it is easier to set up and operate in one of these forms rather than as a corporation. however, if the business gets very large, it becomes advantageous to convert to a corporation, mainly because corporations have important tax advantages over proprietorships and partnerships. most business (measured by dollar sales) is conducted by corporations in spite of large corporations’ often less favorable tax treatment, due to legal considerations related to ownership transfers and limited liability.

Georgia's gross pay was 35,600 this year she is to pay a federal income tax of 16% how much should georgia pay in federal income ax this year

Which of the following is an example of search costs? a.) driving to a faraway place to find available goods b.) buying goods in some special way that is outside the normal channels c.) paying a premium cost for goods d.) selling extra goods for a discount price