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The journal entry to record the cost of warranty repairs that were incurred during the current period, but related to sales made in prior years, includes a debit to Warranty Expense.()
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更多 “ The journal entry to record the cost of warranty repairs that were incurred during the current period, but related to sales made in prior years, includes a debit to Warranty Expense.() ” 相关考题
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Warranty cost is an example of an _____ .A . internal failure costB . appraisal costC . external failure costD . customer satisfaction costE . All of the above.
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Which of the following is not a cost of non-conformance?A . maintenance and calibrationB . warranty repairsC . scrapD . reworkE . All of the above.
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_____ is associated with a buyer's request for materials or equipment to meet a particular need or accomplish a specific purpose.A Express warrantyB Implied warranty of merchantabilityC Implied warranty of fitness for a particular purposeD Prescribed warrantyE None of the above.
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Which of the following is associated with a buyer's request for material to meet a particular need:A material warrantyB material guaranteesC implied warranty of salabilityD implied warranty of fitness for a particular purposeE A and C only
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116 Which of the following is not a cost of non-conformance?A. maintenance and calibrationB. warranty repairsC. scrapD. reworkE. All of the above
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124 Warranty cost is an example of an _____ .A. internal failure costB. appraisal costC. external failure costD. customer satisfaction costE. All of the above
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In 20×8,following events related to Entity A were noted:(1)Entity A sells goods with a warranty under which customers are covered for the cost of repairs of any manufacturing defects that become apparent within the first twelve months after purchase If minor defects were detected in all products sold, repair costs of RMB 6 000 000 would result. Entity A’s past experience and future expectations indicate that ,for the coming year,60 per cent of the goods sold in 20×8 will have minor defects and 10 per cent of the goods sold in 20×8 will have major defects.(2)In November20×8,a customer sued Entity A and made a claim for damages of RMB 2 500 000,as Entity A failed to deliver the goods to the customer in time according to the delivery term of relevant sales contract. When Entity A prepared the financial statements for the year ended 31 December 20×8,its lawyers advised that it was probable that Entity a Would be found liable for making a payment of RMB 2 000 000 to the customer for compensation.（3）Under new environment protection legislation, Entity A is required to fit smoke filters, which costs about RMB20 000 000,to its factories by 30 June 2008.Entity A has not fitted the smoke filters at 31 December 2008.Based on the best estimate of the management of Entity A, it is more likely that Entity A will be imposed a penalty of RMB 10 000 000.（4）Entity A is required by law to overhaul its equipments once three years. The estimated remaining useful life of the equipments is 18 years. Entity A just spent RMB 6 000 000 in overhauling is equipments in 2007.（5）Entity A entered into a sales contract with a customer in November 2008 to sell an equipment at the price of RMB 50 000 000.According to the sales contract, Entity A shall deliver the equipments to the customer in the end of 2009 and the amount of penalty is RMB 600 000 if Entity A or the customer fail to fulfill the contract. Entity A’s original estimated cost of fulfilling the sales contract is about RMB 45 000 000.However,due to the increase of the purchase prices of relevant raw materials, the estimated cost of fulfilling the sales contract increased to RMB 55 000 000 in the end of 2008.No inventory has been prepared by Entity A for the production of the equipment by the end of 2008.Requirement:According to the events described above, determine whether any provision should be recognized in Entity A’s financial statement for the year ended 31 December 2008.If any provision should be recognized, calculate the amount of provision and prepare related journal entries.
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The journal entry a company uses to record the estimated accrued product warranty liability is ( )
A. debit Product Warranty Expense; credit Product Warranty PayableB. debit Product Warranty Payable; credit CashC. debit Product Warranty Expense; credit CashD. debit Product Warranty Payable; credit Product Warranty Expense
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(b) Calculate the value of the closing stocks of finished goods at the end of the three-month period, and the valueof cost of sales for the period. (3 marks)
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(b) (i) Discusses the principles involved in accounting for claims made under the above warranty provision.(6 marks)(ii) Shows the accounting treatment for the above warranty provision under IAS37 ‘Provisions, ContingentLiabilities and Contingent Assets’ for the year ended 31 October 2007. (3 marks)Appropriateness of the format and presentation of the report and communication of advice. (2 marks)
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15 What journal entry is required to record goods taken from inventory by the owner of a business?A Debit DrawingsCredit PurchasesB Debit SalesCredit DrawingsC Debit DrawingsCredit InventoryD Debit PurchasesCredit Drawings
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听力原文： At the end of the total accounting period and after all transactions have been journalized and posted, the equality of the debit and credit entries is checked by preparing a trial balance. A trial balance is a schedule that lists the titles of the accounts in the general ledger and their debit or credit balances. If the trial balance is in balance, the financial statements can be prepared. If a trial balance does not agree, it implies that an error or errors have been made. The account balances, postings and the journal entries must be checked until the error is found. A trial balance does not prove that all transactions have been recorded or that the ledger is correct. The trial balance may still agree when a transaction is not journalized, a journal entry is not posted, an entry is posted twice, incorrect accounts are used in journalizing or posting, or offsetting errors are made in recording the amount of a transaction.24. How does the accountant check the equality of the debit and credit entries?25.What is a trial balance?26.What is implied if a trial balance does not agree?(24)A．By posting all the entries.B．By preparing a trial balance.C．By comparing the entries on both sides.D．By recording all the entries once more.
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A credit note or a debit note is a document used to adjust or rectify errors made in a sales invoice.()
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The cost of a product warranty should be included as an expense in the ( )A. period the cash is collected for a product sold on accountB. future period when the cost of repairing the product is paidC. period of the sale of the productD. future period when the product is repaired or replaced
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A seaman you have just discharged has a Continuous Discharge Book. Which statement is TRUE?A.The record of entry in the continuous discharge book shall agree with the entry made in the Ship's ArticlesB.If the vessel was on coastwise articles，the record of discharge will be made in the Official LogbookC.An entry should be made in the book and a Certificate of Discharge issued to the seamanD.A Certificate of Discharge form should be attached to the book
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No deductions“______” shall be made from the cost of temporary repairs allowable as general average．A.old for newB.new for oldC.oldD.new
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If your computer__________ .experience any problems within the warranty period, you can take it to an authorized repair center free of charge.A.will
B.should
C.had
D.would
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Questions 44-46 refer to the following letter.
Dear Arcish Furniture,
I recently purchased a leather sofa from your outlet. The sales representative, Maureen, ______ me to purchase the 10-year warranty. I was told that if my furniture was accidentally damaged, even by a pet, the store would repair it at no cost to me.A. persuasion
B. persuasive
C. persuading
D. persuaded
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Two advantages the TS1130 Tape Drive has over LTO-5 drives are（）.A、speed and capacityB、drive reuse and media reuse C、longer warranty and lower cost media D、backward compatibility with LTO-4 cartridges
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Which of the following items would MOST likely be kept in a documentation file for each server？（）A、 Cost of the equipmentB、 The users home directoriesC、 Server configurationD、 Warranty informationE、 Accessories that came with the system
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A customer is evaluating the purchase of a new p570 8-way Express to replace their current set of ten 2-way database and application servers that are more than five years old. In addition to savings potential in the areas of operating system and database charges， what other significant savings component should be highlighted？（）A、Maintenance savings due to warranty on new machinesB、Reliability savings of using one machine versus tenC、Financial savings due to cash outlays now versus laterD、Power savings even if the current power usage is unknown
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单选题A seaman you have just discharged has a Continuous Discharge Book. Which statement is TRUE? （）A
The record of entry in the continuous discharge book shall agree with the entry made in the Ship's Articles.B
If the vessel was on coastwise articles，the record of discharge will be made in the Official Logbook.C
An entry should be made in the book and a Certificate of Discharge issued to the seaman.D
A Certificate of Discharge form should be attached to the book
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单选题For many years marine centrifuges were designed for （） operation, that is the machines were run for a period during which solids accumulated in the bowlThe machine was stopped when the accumulated solids began to impair its performance.A
purifyingB
batchC
long periodD
temporary
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单选题The Oil Record Book, as a part of the ships official logbook, shall be kept on board and preserved for a period of （）.A
3 years after making the first entryB
2 years after the last entryC
3 months after last entryD
3 years after the last entry
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单选题If an incorrect entry were made in the Oil Record Book, you should （）.A
erase the entry and rewrite itB
notify the ships officer-in-chargeC
completely black it out and make the correct entry alongsideD
draw a single line through the wrong entry and initial it
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