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Ounting for warranty expense and estimated warranty payables
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Accounting for warranty expense and estimated warranty payable: Treskter USA guarantees automobiles against defects for (5) years or (55,000) miles, whichever comes first. Suppose Treskter USA can expect warranty cost during the (5) years period to add up to (6%) of the sales, Assume that...
Warranty expense & warranty liability
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I need help with the following question. Any pointers is greatly appreciated. Warranty expense. Woodmier Lawn Products introduced a new line of Commercial sprinklers in 2002 that carry a one-year warranty against Manufacturer’s defects. Because this was the first product for which the...
Recording Warranty Premiums in a Warranty Adm. Company
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How do I record warranty premiums in an Warranty Administration Company? I think that it should be recorded as a liability to the warranty insurance captive company. Also that any cash receipts for the warranty administration should be recorded as income. Is this correct?
What is the estimated warranty expense and warranty cost?
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A company sells computers with a 6-month warranty. In January, the company sold 100,000 computers at $1,750 each, and 1,500 computers were turned in for repairs during the same month. The total repairs amounted to $185,000 costs from the computer parts inventory. It is estimated that 2% of all...
Warranty expense/ warranty liability
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I am really confused with the following problem and do not know where to even start. C Company began operating near the beginning of 2004. During 2004, C Co. sold plasma televisions for $2,000 each, all carrying a two-year warranty against defects. C company's cost for each plasma television was... View more questions Search
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