Carnes electronics sells consumer electronics that carry a 90-day manufacturer’s warranty. at the time of purchase, customers are offered the opportunity to also buy a two-year extended warranty for an additional charge. during the year, carnes received $412,000 for these extended warranties (approximately evenly throughout the year). required: 1-a. does this situation represent a loss contingency? 1-b. how should it be accounted for? 2. prepare journal entries that summarize sales of the extended warranties (assume all credit sales) and any aspects of the warranty that should be recorded during the year.

Quick calculate the roi dollar amount and percentage for these example investments. a. you invest $50 in a government bond that says you can redeem it a year later for $55. use the instructions in lesson 3 to calculate the roi dollar amount and percentage. (3.0 points) tip: subtract the initial investment from the total return to get the roi dollar amount. then divide the roi dollar amount by the initial investment, and multiply that number by 100 to get the percentage. b. you invest $200 in stocks and sell them one year later for $230. use the instructions in lesson 3 to calculate the roi dollar amount and percentage. (3.0 points) tip: subtract the initial investment from the total return to get the roi dollar amount. then divide the roi dollar amount by the initial investment, and multiply that number by 100 to get the percentage.