Apr. 30 Bowes is party to a patent infringement lawsuit of $210,000. Bowes's attorney is certain it is remote that Bowes will lose this lawsuit. Jun. 30 Estimated warranty expense at 4% of sales of $380,000.
Jul. 28 Warranty claims paid in the amount of $6,000.
Sep. 30 Bowes is party to a lawsuit for copyright violation of $70,000. Bowes's attorney advises that it is probable Bowes will lose this lawsuit. The attorney estimates the loss at $70,000.
Dec. 31 Bowes estimated warranty expense on sales for the second half of the year of $540,000 at 4%.

Required:
a. Journalize required transactions, if any, in Garrett's general journal. Explanations are not required.
b. What is the balance in Estimated warranty payable?

Azster inc. recorded sales revenue for the year that ended december 31, 2014 as $67,000. interest revenue of $5,300 and expenses of $14,000 were also recorded for the same period. what is aster’s net profit or loss?

Consider the market for gasoline. suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon, and employees at gas stations earn $17.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect the government has instituted a legal minimum price of $3.40 per gallon for gasoline. the government prohibits gas stations from selling gasoline for more than $3.40 per gallon. due to new regulations, gas stations that would like to pay better wages in order to hire more workers are prohibited from paying more than $14.50 per hour.

Question 55 ted, a supervisor for jack's pool supplies, was accused of stealing pool supplies and selling them to friends and relatives at reduced prices. given ted's earlier track record, he was not fired immediately. the authorities decided to give him an administrative leave, without pay, until the investigation was complete. in view of the given information, it would be most appropriate to say that ted was: demoted. discharged. suspended. dismissed.