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Exercise 10-20 (Algorithmic) Accrued Product Warranty

Asked Apr 29, 2012, 12:13 AM — 1 Answer
Accrued Product Warranty

Harbour Company disclosed estimated product warranty payable for comparative years as follows:
12/31/11 12/31/10
Current estimated product warranty payable $11,657 $11,177
Noncurrent estimated product warranty payable 7,091 6,249
Total $18,748 $17,426

Harbour's sales were $137,486 in 2010 and increased to $151,908 in 2011. Assume that the total paid on warranty claims during 2011 was $12,018.

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Apr 29, 2012, 04:10 AM
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Originally Posted by kdraper View Post
Accrued Product Warranty

Harbour Company disclosed estimated product warranty payable for comparative years as follows:
12/31/11 12/31/10
Current estimated product warranty payable $11,657 $11,177
Noncurrent estimated product warranty payable 7,091 6,249
Total $18,748 $17,426

Harbour's sales were $137,486 in 2010 and increased to $151,908 in 2011. Assume that the total paid on warranty claims during 2011 was $12,018.
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