Landcaster Inc. sells its products with a 2-year service-type warranty. On January 1, Year 1, Landcaster…

Landcaster Inc. offers a 2 year warranty on all of its products
Warranty. Since January 1, Year 1, Landcaster has sold 60 machines.
$2,500 per machine. These machines are identified by Landcaster.
Typically, each item sells for $2,275, and a Service Type Guarantee can be purchased.
Machines can be purchased for as low as $225. Landcaster pays $225 per machine in year 1.
Warranty costs up to $5,000

Requires:

Landcaster Inc. offers a 2-year warranty on all of its products
Warranty. Since January 1, Year 1, Landcaster has sold 60 machines.
$2,500 per machine. These machines are identified by Landcaster.
Typically, each item sells for $2,275, and a Service Type Guarantee can be purchased.
Machines can be purchased for as low as $225. Landcaster pays $225 per machine in year 1.
Warranty costs up to $5,000

Requirements:

Preparation of Landcaster journal entries related to sales and sales
1st year warranty.

X

Chart of Accounts

Chart of Accounts
Landcaster Inc.
General Ledger
Assets
111 Cash
121 (* ) ) Accounts Received 141
Inventory 152
Prepaid Insurance 181
Equipment 189
Accumulated Depreciation Liabilities
211
Liabilities 230
Guaranteed Earning Earned 231
Salary Number 250
Unearned Earnings 261
Earnings Impact EQUITY
311
Frequently stock 331
Restricted Income TURNOVER
411
Sales Income 438
Guaranteed Income EXPENSES
500
Merchandise Sales Price 511
Insurance Expenses 512
) Operating Expenses 521
Salary Expenses 532
Bad Debts 540
Interest Expenses 541
Depreciation Expenses 551
Warranty Expenses 559
Other Expenses 910
Income Tax X

General Journal

Shaded cells provide feedback.

Journal entries that need to be kept for records:

1. Account sales: 60 machines

2. Annual Warranty Fee
3. In Year 1, guaranteed earnings were earned on
GENERAL JOURNAL

DATE

ACCOUNT TITLE POST. REF. DEBT CREDIT 1

2

3

4

5

6

7

Calculate your paper price
Pages (550 words)
Approximate price: -

Why Choose Us

Quality Papers

We value our clients. For this reason, we ensure that each paper is written carefully as per the instructions provided by the client. Our editing team also checks all the papers to ensure that they have been completed as per the expectations.

Professional Academic Writers

Over the years, our Acme Homework has managed to secure the most qualified, reliable and experienced team of writers. The company has also ensured continued training and development of the team members to ensure that it keep up with the rising Academic Trends.

Affordable Prices

Our prices are fairly priced in such a way that ensures affordability. Additionally, you can get a free price quotation by clicking on the "Place Order" button.

On-Time delivery

We pay strict attention on deadlines. For this reason, we ensure that all papers are submitted earlier, even before the deadline indicated by the customer. For this reason, the client can go through the work and review everything.

100% Originality

At Custom Paper Help, all papers are plagiarism-free as they are written from scratch. We have taken strict measures to ensure that there is no similarity on all papers and that citations are included as per the standards set.

Customer Support 24/7

Our support team is readily available to provide any guidance/help on our platform at any time of the day/night. Feel free to contact us via the Chat window or support email: support@acmehomework.com.

Try it now!

Calculate the price of your order

We'll send you the first draft for approval by at
Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Custom Paper Help has stood as the world’s leading custom essay writing services providers. Once you enter all the details in the order form under the place order button, the rest is up to us.

Essays

Essay Writing Services

At Custom Paper Help, we prioritize on all aspects that bring about a good grade such as impeccable grammar, proper structure, zero-plagiarism and conformance to guidelines. Our experienced team of writers will help you completed your essays and other assignments.

Admissions

Admission and Business Papers

Be assured that you’ll definitely get accepted to the Master’s level program at any university once you enter all the details in the order form. We won’t leave you here; we will also help you secure a good position in your aspired workplace by creating an outstanding resume or portfolio once you place an order.

Editing

Editing and Proofreading

Our skilled editing and writing team will help you restructure you paper, paraphrase, correct grammar and replace plagiarized sections on your paper just on time. The service is geared toward eliminating any mistakes and rather enhancing better quality.

Coursework

Technical papers

We have writers in almost all fields including the most technical fields. You don’t have to worry about the complexity of your paper. Simply enter as much details as possible in the place order section.