1: Question 12 pointsi 4- Recommended Time Allocation: 55 Minutes 21 Marks Tiger Limited sa manufacturer of high powered computers Tiger's computers a soldwa typica assurance-type Twelve months At the time of sale the purchaser has the option to buy the computer e extended wants The 5-years would begin or the end of the -month surance purchase choose to to buy the rear ended warranty at the time of De purchase can buy the 5-year extended orion unty up to months later. The following the monturers Pince how of computer Whe nacle ed a package with the anded waarty, the sing pace for 519 This soccorso the time of the purchase b optional extended any were be purchased by all (separate from the corp the price would be $2.000 che non ing price of a Pimate with the assurance antybu Mithout the 5-year extended Warranty $18,000. The cost of goods 512,500 and Tiger uses a perpetual inventory System dTiger this Piceret vendere any chain of 35% of the nonta ng prooftheco in policable stations per uses the gross metod REQUIRED READ THE BELOW QUESTIONS CAREFULLY 1. Januar Tiger seld het: 30 credit for a new the 5-year extended warranty as a package prepare the applicable oumenty or entries at the date of Medeltety coated with the sale (8 marks) 2 January As thet Toer the $19 200 account recevable to Factoring Company Cash on a wiec Wi Factoring Company that a hback of $700 appropriate Days To $15.700 cash Prepare the ouma entry of entries to reflect the above (3 marks) 3 ore you to sen Assame ger sellsone Pinnata custom wout any extended waranty on the Past is sold on the following Terms Cits down payment of $3000 $15.000 Promissory or three years from the date of sale Stated interest rate 256 terest will be paid annua on December 31 The market rate of informar note would be 6% Assume Tiger is permitted to recognize revenue of Prepare the journal entry of onines for the above Situation marks) Docom 31 Assume Tot cover an interest payment relating to the promissory not Tocabolat Precanal entry of entries for this situation (4 marks) Foto 1: Question 12 pointsi 4- Recommended Time Allocation: 55 Minutes 21 Marks Tiger Limited sa manufacturer of high powered computers Tiger's computers a soldwa typica assurance-type Twelve months At the time of sale the purchaser has the option to buy the computer e extended wants The 5-years would begin or the end of the -month surance purchase choose to to buy the rear ended warranty at the time of De purchase can buy the 5-year extended orion unty up to months later. The following the monturers Pince how of computer Whe nacle ed a package with the anded waarty, the sing pace for 519 This soccorso the time of the purchase b optional extended any were be purchased by all (separate from the corp the price would be $2.000 che non ing price of a Pimate with the assurance antybu Mithout the 5-year extended Warranty $18,000. The cost of goods 512,500 and Tiger uses a perpetual inventory System dTiger this Piceret vendere any chain of 35% of the nonta ng prooftheco in policable stations per uses the gross metod REQUIRED READ THE BELOW QUESTIONS CAREFULLY 1. Januar Tiger seld het: 30 credit for a new the 5-year extended warranty as a package prepare the applicable oumenty or entries at the date of Medeltety coated with the sale (8 marks) 2 January As thet Toer the $19 200 account recevable to Factoring Company Cash on a wiec Wi Factoring Company that a hback of $700 appropriate Days To $15.700 cash Prepare the ouma entry of entries to reflect the above (3 marks) 3 ore you to sen Assame ger sellsone Pinnata custom wout any extended waranty on the Past is sold on the following Terms Cits down payment of $3000 $15.000 Promissory or three years from the date of sale Stated interest rate 256 terest will be paid annua on December 31 The market rate of informar note would be 6% Assume Tiger is permitted to recognize revenue of Prepare the journal entry of onines for the above Situation marks) Docom 31 Assume Tot cover an interest payment relating to the promissory not Tocabolat Precanal entry of entries for this situation (4 marks) Foto
