6.Synergy Appliances sells dishwashers with a 4 year warranty. In 2013, sales for dishwashers is $80,000. Assets are $100,000 and Liabilities equaled $30,000.

The company estimates warranty estimates warranty expense at 5% of revenues. What is the 2013 warranty expense?

7.?

11.?

12.?

6) Synergy Appliances sells dishwashers with a 4-year warranty. In 2013. sales for dishwashers is $80,000. Assets are $100,000 and Liabilities equaled $30.000. The company estimates warranty expense at 5% of revenues. What is the 2013 warranty expense? A) $5,000 B) $1,500 C) $4,000 D) $3,000 e 7) Royal Clothes has performed admirably for the financial vear 2014. It decides to reward its employees w bonus of 15% on annual net income, after deducting the bonus. The net income before allowing bonuses is $300,000. Calculate the bonus allowable to employees. A) $45,000 B) $39,130 B = b% [Net income - B] C) $52.941 D) $6,750 8) The reason investors buy bonds is to: A) Receive dividend B) Own controlling interest in the company C) Exercise voting rights in a company D) Earn interest 9) Which of the following describes a secured bond? A) Bond that repays principal in installments B) Bond that is backed by issuer's specific assets C) Bond that matures at one specified time D) Bond that is not backed by specific assets 10) Which of the following describes a debenture? A) bond that repays principal in installments B) Bond that gives the bondholder a claim for specific assets C) Bond that matures at one specified time D) Bond that is not backed by specific assets 11) If bonds with a face value of $100,000 are sold at 105 4 the amount of cash proceeds is! A) $105,570 B) $105,000 C) $150.705 D) $105,750 12) If bonds with a face value of $200,000 are sold at 102% the amount of cash proceeds is: A) $202,000 B) $205,000 C) $200,000 D) $20,500