E13.11 (lo 3) (warranties) early in 2020, crow equipment sold 500 rollomatics at $6,000 each. during 2020, crow spent $20,000 servicing the 2-year assurance warranties that accompany the rollomatic. all applicable transactions are on a cash basis. instructions a. prepare 2020 entries for crow. assume that crow estimates the total cost of servicing the warranties in the second year will be $35,000. b. prepare 2020 entries for crow assuming that the warranties are not an integral part of the sale (a service-type warranty). assume that of the sales total, $56,000 relates to sales of warranty contracts. warranty costs incurred in 2020 were $20,000. estimate revenues to be recognized on a straight-line basis.

James albemarle created a trust fund at the beginning of 2016. the income from this fund will go to his son edward. when edward reaches the age of 25, the principal of the fund will be conveyed to united charities of cleveland. mr. albemarle specified that 75 percent of trustee fees are to be paid from principal. terry jones, cpa, is the trustee. james albemarle transferred cash of $500,000, stocks worth $400,000, and rental property valued at $250,000 to the trustee of this fund. immediately invested cash of $360,000 in bonds issued by the u.s. government. commissions of $7,900 are paid on this transaction. incurred permanent repairs of $9,000 so that the property can be rented. payment is made immediately. received dividends of $8,000. of this amount, $3,000 had been declared prior to the creation of the trust fund. paid insurance expense of $4,000 on the rental property. received rental income of $10,000. paid $8,000 from the trust for trustee services rendered. conveyed cash of $7,000 to edward albemarle.

Interest is credited to a fixed annuity no lower than the variable contract rate contract guaranteed rate current rate of inflation prime rate

All of the following led to the collapse of the soviet economy except a. a lack of worker incentives. c. inadequate supply of consumer goods. b. a reliance on production quotas. d. the introduction of a market economy.