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,2022, at ant of the ed new nds pay sale De (c) Question Four: 10 Points Part (A): Early in 2022 Kanoo Company sold 50 cars for $20,000 each under a 3-year assurance- type warranty. The warranty cost estimated to be $170,000. In addition, Kanoo sold service-type contracts for additional 3 years, for $174,000 cash. During 2022 Kanoo spent $72,000 servicing the assurance-type warranty. Required: a) Prepare all the necessary journal entries during 2022 and at December 31, 2022. b) How much revenue is earned by Kanoo in 2025? c) Explain the difference between assurance warranty and service-type warranty. Year Account Debit Cash 2021 salest Unearned reverve. Year 2020 2021 (b) $22000 (d) Assurance warranty ly give taken by monery. at the time of buying the product Part (B): On January 1, 2020, Carrefour started operations with 100 employees who work 8-hour days and are paid hourly. Carrefour grants its employees 9 days of paid vacation each year. Vacation days earned in any year may be taken on January 1 in the following year. Information relative to the employees is as follows: e expr Hourly Wages $20 24 Vacation Days Earned by Each Employee 9 9 Salaries & wages expense Required: a) Prepare the entry to accrue the compensated absence in 2020. b) Prepare the entry to record the vacation days used in 2021. c) Calculate the vacation wages liability at December 31, 2021. Year Account Debit 20220 144000 salalles & wages Doyablet. Salaries & Salaries and wages payable Cuac) 9600 Credit Vacation Days Used looxxx20 by Each Employee 0 6 Salaves and wages expense 157600 Credit salonies & wages payal to (57600) X 4 144000 96000 -75 5 2)

Question Three: 8 Points Extreme company issued $1,600,000 of 12%,5-year bonds on an bonds was $1,655,535.08 the company called the entire $1,600,000,10% bonds to mature in 31 and June 30 . interest Required: a) Prepare the of the new bonds. amortization journal entry Question Two: 2 Belats pender boxes for 56 each, 40% of the coupons are expected to be redenmed, hownver. der boxes for 56 each alliv redeemed. that should be recorded in 2022 relative to the Part (8): Seema Company issued 800 shares $10 par value ordinary shares and 200 shares $200 par value preference shares for a lump sum of $300,000. Required: prepare the journal entry to record the issuance when the fair value of the ordinary shares was $360 eachland the fair value of the preference shares is $540 leach (round to the nearest dollar) gevestian Feur: 1e points the ensuratce tive waranty a) Prope al the nectiary purnal entries during 2022 and at December 31,2022 (b) (c) Assuro 27000 finde 2 Pertist On january 1, 2020, Carrefour started operations with 100 employees who work 8 hour dons and are paid hourly. Cartefour grants its employees 9 days of paid vacation each veas. Vacation dars earned in any year may be taken on January 1 in the following veri. informution relathe to the employees is as follows: Required: a) Prepare the entry to accrue the compensated absence in 200n b) Prepare the entry to recard then

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