Strikers, Inc. sells soccer goals to customers over the Internet. History has shown that 2% of Strikers’ goals will need repair under the warranty program. For the year, Strikers has sold 4,000 goals and 45 have been repaired. If the estimated cost to repair a goal is $200, what would be the Warranty Liability at the end of the year?

The board of directors of Capstone Inc. declared a $0.60 per share cash dividend on its $1 par common stock. On the date of declaration, there were 50,000 shares authorized, 20,000 shares issued, and 5,000 shares held as treasury stock. What is the entry when the dividends are declared?

On July 1, 2015, Charlie Co. paid $18,000 to Rent-An-Office for rent covering 18 months from July 2015 through December 2016. What adjusting entry should Charlie Co. record on December 31, 2015?

For the past five years, Mookie Consulting Services reported the following annual net income and dividend amounts:              Year    Net Income    Dividends                                                         1          $22,000           $2,000               2            17,000             2,000                   3              9,000             1,000               4            14,000             3,000               5            25,000             4,000 If Mookie had Retained Earnings of $88,000 at the end of year 5, what was the company’s Retained Earnings at the beginning of Year 1?

Excerpts from Stealth Company’s December 31, 2015 and 2014, financial statements are presented below:         2015      2014 Accounts receivable $ 40,000 $ 36,000 Inventory 28,000 35,000 Net sales 190,000 186,000 Cost of goods sold 114,000 108,000 Total assets 425,000 405,000 Total stockholders’ equity 240,000 225,000 Net income 32,500 28,000   Stealth Company’s 2015 receivables turnover ratio is:

Posting transactions to T-accounts involve:

Bad Brad’s BBQ had cash flows for the year as follows ($ in millions): CASH RECEIVED FROM:   Customers  $  1,800 Interest on investments 200 Sale of land 100 Sale of common stock 600 Issuance of debt securities 2,000     CASH PAID FOR:   Interest on debt  $    300 Income tax 80 Debt principal reduction 1,500 Purchase of equipment 4,000 Purchase of inventory 1,000 Dividends on common stock 200 Operating expenses 500 Bad Brad’s would report net cash inflows (outflows) from operating activities in the amount of:

Suppose that the balance of a company’s Allowance for Uncollectible Accounts was $6,200 (credit) at the end of 2015, prior to any adjustments. The company estimated that the total of uncollectible accounts in its accounts receivable was $44,300 at the end of 2015. What amount of bad debt expense would appear in the company’s 2015 income statement?

A 6 month-old infant discovers that they can use their favorite rattle (pictured below) to not only shake to make noise, but also to bang on their highchair tray to make noise.  This is an example of: 

Which of the following terms is defined as “an intrinsic characteristic that enables children to master a skill”, often by goal directed, repetitive practice?