26. Under what conditions should a pending lawsuit be recognized in a company's financial statements? Under what conditions should the lawsuit be disclosed in the footnotes?
27. When a warranty repair job is completed, what is the effect on the accounting equation?
28. When is warranty expense usually recognized?
29. What is the effect of the recognition of warranty expense on the statement of cash flows?
30. John Rogers and Kim Thompson both perform work for Apex Manufacturing. John is considered to be an employee, and Kim is considered to be an independent contractor. How is this possible? How does is affect payroll taxes?
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