leonardjustin
Apr 28, 2010, 06:32 PM
Truly stumped with this - help?
Tractor Company estimates its annual warranty expense at 4% of annual net sales. The following information relates to the calendar year 2010:
Net sales $3,000,000
Estimated liability under warranties:
January 1, 2010 100,000
December 31, 2010, after year-end adjustment 80,000
The amount of warranty expense for 2010 is?
The amount of expenditures for warranty costs for 2010 is?
Tractor Company estimates its annual warranty expense at 4% of annual net sales. The following information relates to the calendar year 2010:
Net sales $3,000,000
Estimated liability under warranties:
January 1, 2010 100,000
December 31, 2010, after year-end adjustment 80,000
The amount of warranty expense for 2010 is?
The amount of expenditures for warranty costs for 2010 is?