Business

Business, 05.07.2019 22:30, jo17miapierre

Parker company’s balance reflected estimated warranty payable of $2,000 credit at the end of 2018, the current year. during 2019, the following year, parker had sales of $200,000 and expects product warranties to cost the company 10% of sales. during 2019, parker paid $17,000 for warranties. what is parkers estimated warranty payable balance at the end of 2019?

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Mathematics, 25.07.2019 02:30, marlesly87

During august, boxer company sells $364,000 in merchandise that has a one year warranty. experience shows that warranty expenses average about 5% of the selling price. the warranty liability account has a credit balance of $12,000 before adjustment. customers returned merchandise for warranty repairs during the month that used $8,600 in parts for repairs. the entry to record the estimated warranty expense for the month is: multiple choice debit estimated warranty liability $18,200; credit warranty expense $18,200. debit warranty expense $6,200; credit estimated warranty liability $6,200. debit warranty expense $18,200; credit estimated warranty liability $18,200. debit warranty expense $14,800; credit estimated warranty liability $14,800. debit estimated warranty liability $8,600; credit warranty expense $8,600.

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Business, 07.08.2019 03:10, alex24gonzales

Fast bikes, inc. offers warranties on all their bikes. they estimate warranty expense at 5.5% of sales. at the beginning of 2018, the estimated warranty payable account had a credit balance of $ 1 comma 200. during the year, fast bikes had $ 305 comma 000 in sales and had to pay out $ 5 comma 400 in warranty payments. at the end of the year, what is the ending balance in the estimated warranty payable accounts?

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Business, 18.09.2019 01:00, devinlj07

Bonita manufactures high-end whole home electronic systems. the company provides a one-year warranty for all products sold. the company estimates that the warranty cost is $290 per unit sold and reported a liability for estimated warranty costs $10.6 million at the beginning of this year. if during the current year, the company sold 59000 units for a total of $326 million and paid warranty claims of $1209 on current and prior year sales, what amount of liability would the company report on its balance sheet at the end of the current year?

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Business, 06.10.2019 01:00, kylemartinez13

Excom manufactures high-end whole home electronic systems. the company provides a one-year warranty for all products sold. the company estimates that the warranty cost is $225 per unit sold and reported a liability for estimated warranty costs $7.8 million at the beginning of this year. if during the current year, the company sold 60,000 units for a total of $243 million and paid warranty claims of $9,000,000 on current and prior year sales, what amount of liability would the company report on its balance sheet at the end of the current year? (assume accrual method)

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