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King Sales sells a certain product for $20,000. Included in this price is an implied service contract of $600. Fifty machines were sold in 2014. Warranty expense incurred during 2014 amounted to $35,000. The company uses the sales warranty accrual method. Which entry would probably not be made in 2014? a. Cash 30,000 Warranty Revenue 30,000 b. Warranty Expense 35,000 Cash 35,000 c. Cash 1,000,000 Sales 970,000 Unearned Warranty Revenue 30,000 d. Unearned Warranty Revenue 35,000 Warranty Revenue 35,000 The Antarctica Company closed its books annually on December 31, while the city in which it is located has a fiscal year beginning on April 1 and ending on March 31. Taxes on property are assessed on April 1 of each year. Property taxes in the amount of $360,000 and $390,000 were assessed on April 1, 2013 and 2014, respectively. For the year ended December 31, 2014, the Antarctica Company would report property tax expense of a. $360,000 b. $382,500 c. $390,000 d. $370,000 Darla's Card Shop uses the average cost retail inventory method to determine the ending inventory. Darla's accounting records for 2014 contained the following information: Cost Purchases Retail $216,000 $317,500 Sales Beginning inventory Net markups Net markdowns 350,000 64,000 78,500 12,000 8,000 In addition, sales returns for 2014 were $28,000, and employee discounts taken were $6,000. What is the cost of the ending inventory at December 31, 2014 a. $21,000 b. $54,600 c. $35,000 d. $50,400