Strikers, Incorporated sells soccer goals to customers over the Internet. History has shown that 2% of Strikers' goals will need repair under the warranty program. For the year, Strikers has sold 4,400 goals and 49 have been repaired. If the estimated cost to repair a goal is $140, what would be the warranty liability at the end of the year? Multiple Choice $5,460 $12,320 $5,510 $0 Kansas Enterprises purchased equipment for $80,000 on January 1,2024 . The equipment is expected to have a ten-year life, with a residual value o $8,250 at the end of ten years. Using the double-declining balance method, the book value at December 31, 2025, would be: (Do not round your intermediate calculations) Multiple Choice $51,200. $49,280. $8,000. $51,680. In January 2024, Summit Department Store sells a gift card for $125 and receives cash. In February 2024 , the customer comes back and spends $95 of the gift card to purchase a water bottle. What is the financial statement effect of the customer's purchase of the water bottle in February? Multiple Choice Increase assets by $95 and increase stockholders' equity by $95 Increase assets by $30, decrease liabilities by $125, and increase stockholders' equity by $95 Decrease liabilities by $95 and increase stockholders' equity by $95 Increase assets by $30, decrease liabilities by $95, and increase stockholders' equity by $125