A company has a selling price of $1,800 each for its printers. Each printer has a 2 year warranty that covers replacement of defective parts. It is estimated that 2% of all printers sold will be returned under the warranty at an average cost of $150 each. During November, the company sold 30,000 printers, and 400 printers were serviced under the warranty at a total cost of $55,000. The balance in the Estimated Warranty Liability account at November 1 was $29,000.

Calculate and record the company’s warranty expense for November 2016.

What is the balance of the estimated warranty liability as of November 30, 2016? Show all work!

The following data relates to Stephanie Garner, a resident taxpayer. Stephanie derives income from a public relations business and is also a partner in a marketing business.

Required: determine Stephanie’s Taxable Income and any losses that may be carried forward  2016/2017 and 2017/2018 .

Dalton Sporting Goods adopted the dollar-value LIFO method for inventory valuation in 2016. Use the information below to determine the cumulative cost of the ending inventory at December 31, 2019 under dollar-value LIFO (in other words, what would be the inventory balance on Dalton’s Balance Sheet at 12.31.19). Inventory at Current Date Current Prices Price Index December 31, 2016 $150,000 100 December 31, 2017 $189,000 105 December 31, 2018 270,000 120 December 31, 2019 260,000 130

What is the cumulative ending inventory balance at 12.31.19? $______________________

1. Some experts estimated that national health spending in the United States grew at 1% in excess of the growth rates of GDP. Assume that this trend would persist for the foreseeable future, and given the fact that the share of GDP on health spending stood at 18% in 2016, what would become the share in 2064, 45 years from now (and 48 years from 2016, the base year), when most of you would enter the traditional retirement age? We should assume that GDP would grow at 3% annually. Do you have a problem with the number you arrive at?

Mercury Inc. purchased equipment in 2016 at a cost of $249,000. The equipment was expected to produce 510,000 units over the next five years and have a residual value of $45,000. The equipment was sold for $134,800 part way through 2018. Actual production in each year was: 2016 = 71,000 units; 2017 = 114,000 units; 2018 = 58,000 units. Mercury uses units-of-production depreciation, and all depreciation has been recorded through the disposal date.

Required:
1. Prepare the journal entry to record the sale.
2. Assuming that the equipment was sold for $163,800, prepare the journal entry to record the sale.

The POP Corporation had sales of $60 million in 2016. Costs other than depreciation and amortization were 60 percent of sales, and depreciation and amortization expenses were $19.6 million. It had $120 million debt with 5 % annual interest. All sales revenues were collected in cash, and costs other than depreciation and amortization must be paid for during the year. The corporate tax rate is 35 percent.

a. Set up an income statement for the above information.

b. Compute the net cash flow in 2016, and explain the meaning of the final number you found from the computation.

Haymitch Global Industries is a world leading producer of loudspeakers and other electronics products, which are sold under brand names like JRH, Excelsior, and Haymitch/Krug. The company reported the following amounts in its financial statements (in millions):

Required:

Determine the inventory turnover ratio and average days to sell inventory for 2016 and 2015. (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.)

The following selected information is available for Old Navy, a unisex apparel company, for three fiscal years (in $ millions):

(a)

Calculate the current ratio, gross profit margin, and profit margin for each year. (Round answers to 1 decimal place, e.g. 1.5.)

How do you calculate the earnings per share for Target Corporation Fiscal year 2017 and 2016? some other information provided was undiluted for 2017 $5.35 and diluted for 2017 was $5.31? thanks

This is in regards to Ratio analysis; So I have to figure out the earnings per share for Target Corporation Fiscal Year 2017 and 2016. #52