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xeze [42]
3 years ago
12

Hitzu Co. sold a copier costing $6,500 with a two-year parts warranty to a customer on August 16, 2018, for $13,000 cash. Hitzu

uses the perpetual inventory system. On November 22, 2019, the copier requires on-site repairs that are completed the same day. The repairs cost $113 for materials taken from the repair parts inventory. These are the only repairs required in 2019 for this copier. Based on experience, Hitzu expects to incur warranty costs equal to 5% of dollar sales. It records warranty expense with an adjusting entry at the end of each year.1. How much warranty expense does the company report in 2018 for this copier? 2. How much is the estimated warranty liability for this copier as of December 31, 2018? 3. How much warranty expense does the company report in 2019 for this copier? 4. How much is the estimated warranty liability for this copier as of December 31, 2019? 5. Prepare journal entries to record (a) the copier's sale; (b) the adjustment on December 31, 2018, to recognize the warranty expense; and (c) the repairs that occur in November 2019.
Business
2 answers:
klio [65]3 years ago
7 0
Hyushxhxhxhxvdjfjdbf beftrrythu
kari74 [83]3 years ago
6 0

Answer:

kjhfdgf

uigykyjgExplanation:

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Note:

I wasn't able to access the Chester Income Statement but I successfully accessed a similar question Digby.

The Complete Question is as under:

Refer to the HR Reports in the Inquirer. Through past investments in recruiting and training Digby has obtained a productivity index of 109.6%. This means that Digby's labor costs would be increased by 9.6% if it did not have these productivity improvements. This is a competitive advantage that Digby can sustain or even widen further if its competitors have no HR initiatives. Now, refer to the Income Statement in Digby's Annual Report. How much did Digby's productivity improvements save it in direct labor costs (in thousands) last year?

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Answer:

Option D. $3,137

Explanation:

The Productivity Index of 9.6% shows that if the improvement plan is implemented then the efficiency gains would result in saving of 9.6% of total direct cost. So if we total the direct cost for the year for all of the four products then we have an amount of $32,680 which is given at the second last column.

The amount saved last year would be:

Savings = $32,680 * 9.6% = $3,137

Hence the option C is correct here.

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Harvey, a u.s. taxpayer, purchased 10 shares of mvc stock for $100 per share; one year later he sold the 10 shares for $130 a sh
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