Sawyer and four others formed a & e salvage and began a project of recovering salvage materials from the site of the former liberty fibers rayon plant. the site consisted of 300 acres, multiple buildings, and extensive ground piping. as a & e removed the salvage materials, it discovered that many of the pipes and buildings contained racm, a toxic substance. in the removal process, racm was not treated or removed properly according to statutory requirements. the federal government stepped in and cleaned up the racm from the property and sought reimbursement from liable parties. who is liable for the clean-up costs?

Prior to its closing, income summary had total debits of $1,190,500 and total credits of $1,476,300. what purpose is served by the income summary account and what is the nature of the entries that resulted in the $1,190,500 and the $1,476,300? the income summary account is used to the accounts. the $1,190,500 represents the , and the $1,476,300 represents . the company had of $ .

Jewelry manufacturers produce a range of products such as rings, necklaces, bracelets, and brooches. what fundamental economic question are they addressing by offering this range of items?

Analyzing and computing accrued warranty liability and expense waymire company sells a motor that carries a 60-day unconditional warranty against product failure. from prior years' experience, waymire estimates that 2% of units sold each period will require repair at an average cost of $100 per unit. during the current period, waymire sold 69,000 units and repaired 1,000 units. (a) how much warranty expense must waymire report in its current period income statement? (b) what warranty liability related to current period sales will waymire report on its current period-end balance sheet? (hint: remember that some units were repaired in the current period.) (c) what analysis issues must we consider with respect to reported warranty liabilities?