What is the adjustment to retained earnings, Financial Accounting

+44 141 628 6080
[email protected]

What is the adjustment to retained earnings

Problem

Pharoah Company offers a ?ve-year warranty on its products. Pharoah previously estimated warranty costs to be 3% of sales but in 2025 revised this estimate to 1% due to process and quality control improvements. Pharoah reported warranty costs of $76800 on $2560000 in 2023 and $91800 on 553060000 in 2024. Sales revenue for 2025 was $512-$000. What is the adjustment to Retained Earnings in 2025 (ignore income tax considerations)?

View Complete Question

Request for Solution File

Ask an Expert for Answer!!

Financial Accounting: What is the adjustment to retained earnings

Reference No:- TGS03280759

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Financial Accounting

Q : How current monetary policy measures impact real gdp

Over time, how might the Federal Reserve's current monetary policy measures impact real GDP?

Q : Outcomes of the research supported the hypothesis

"In A Tale of Two Cities, Jarvis Lorry's words portray his deep devotion to Lucie." Researchers stated that "the outcomes of the research supported hypothesis."

Q : What should you expect the market price per share of stock

What should you expect the market price per share of the common stock to be on the ex-dividend date?

Q : Discuss the context and exceptional communication quality

Discuss the context and the exceptional communication quality that this communicator demonstrated. What would have been the gender norm?

Q : What is the adjustment to retained earnings

Pharoah Company offers a ?ve-year warranty on its products. What is the adjustment to Retained Earnings in 2025 (ignore income tax considerations)?

Q : Identify a method of development

The story is: Spreading light and Joy in 2022 as we fight for a better world. Identify a method of development and explain how it supports the main point.

Q : What amount will be recorded as a deferred tax asset

At the end of 2020, the company decides to apply the loss back to 2019 and carry forward the rest. What amount will be recorded as a Deferred Tax Asset?

Q : Discuss pros and cons about cloud computing

Question: List and briefly describe the Pros and Cons you wish to explain to your boss.

Q : Explain how the venture capital industry operates

Explain how the venture capital industry operates. Identify the type of firm that is likely to attract venture capitalists.

1935055

Questions
Asked

3,689

Active Tutors

1460459

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Asked Questions

Discuss patient with athsma about use of bronchodilators

You're instructing a patient with athsma about the use of bronchodilators. You should teach the patient which one?

Discuss new forms of advertising changing opdps work

How have social media and other new forms of advertising changing OPDP's work?

Observing and reporting a correctional clients behavior

Observing and reporting a correctional client's behavior is extremely important, to ensure they receive the right mental health care.

Discussion about improve patient satisfaction scores

You are trying to improve patient satisfaction scores in your hospital's emergency department. You decide to poll 40 patients a day for three weeks.

Problem concerning about the risk for stroke

Sam is concerned about his risk for his stroke since his dad died of stroke at age 57 based on the following information why would you recommend

Patient presented with acute-onset abdominal pain

You are on your 5th straight duty in the Urgent Care and you are seeing a 18 yo may who presented with acute-onset abdominal pain for 2 days.

Discuss - male with a history of moderate persistent asthma

A nurse is caring for an 8-year-old male with a history of moderate persistent asthma. He is accompanied by his mom and dad who reported