Business, 20.06.2020 00:57 genyjoannerubiera
The following transactions of Sandy Cruz occurred during 2018: LOADING...(Click the icon to view the transactions.)
Requirements
1. Journalize required transactions, if any, in Cruz's general journal. Explanations are not required.
2. What is the balance in Estimated Warranty Payable assuming a beginning balance of $0?
Requirement
1. Journalize required transactions, if any, in Cruz's general journal. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries. For transactions that do not require an entry, make sure to select "No entry required" in the first cell in the "Accounts" column and leave all other cells blank.)
Apr. 30: Cruz is party to a patent infringement lawsuit of $ 220,000. Cruz's attorney is certain it is remote that Cruz will lose this lawsuit.
Jun. 30 Estimated warranty expense at 4% of sales of $360,000.
Jul. 28 Warranty claims paid in the amount of $6.400
Sep. 30 Cruz is party to a lawsuit for copyright violation of $150,000. Cruz's attorney advises that is probable Cruz will lose this lawsuit. The attorney estimates the loss at $150,000
Dec. 31 Cruz estimated warranty expense on sales for the second half of the year of $500,000 at Jun Choog Dec 31
Answers: 1
Business, 21.06.2019 20:50, dakshshberry
Tyler has coffee with one of his direct reports almost daily. he does this to inquire in an informal way about progress on the job, and to provide coaching and support, as well as appropriate congratulations for special efforts. tyler is exhibiting which type of managerial skill?
Answers: 1
Business, 22.06.2019 11:10, flippinhailey
Suppose that the firm cherryblossom has an orchard they are willing to sell today. the net annual returns to the orchard are expected to be $50,000 per year for the next 20 years. at the end of 20 years, it is expected the land will sell for $30,000. calculate the market value of the orchard if the market rate of return on comparable investments is 16%.
Answers: 1
Business, 22.06.2019 15:20, babyduck0664
Martinez company has the following two temporary differences between its income tax expense and income taxes payable. 2017 2018 2019 pretax financial income $873,000 $866,000 $947,000 (2017' 2018, 2019) excess depreciation expense on tax return (29,400 ) (39,000 ) (9,600 ) (2017' 2018, 2019) excess warranty expense in financial income 20,000 9,900 8,300 (2017' 2018, 2019) taxable income $863,600 $836,900 $945,700(2017' 2018, 2019) the income tax rate for all years is 40%. instructions: a. prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017, 2018, and 2019. b. assuming there were no temporary differences prior to 2016, indicate how deferred taxes will be reported on the 2016 balance sheet. button's warranty is for 12 months. c. prepare the income tax expense section of the income statement for 2017, beginning with the line, "pretax financial income."
Answers: 3
The following transactions of Sandy Cruz occurred during 2018: LOADING...(Click the icon to view the...
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