subject
Business, 04.07.2020 01:01 kcarstensen59070

Corrector guarantees its snowmobiles for three years. Company experience indicates that warranty costs will be approximately 5 % of sales. Assume that the Sierra dealer in Colorado Springs made sales totaling $ 800,000 during 2016. The company received cash for 30% of the sales and notes receivable for the remainder. Warranty payments totaled $12,000 during 2016. Required:
a. Record the sales, warranty expense, and warranty payments for the company. Ignore cost of goods sold.
b. Post to the Estimated Warranty Payable T-account. At the end of 2014, how much in Estimated Warranty Payable does the company owe? Assume the Estimated Warranty Payable is SO on January 1, 2014.

ansver
Answers: 1

Other questions on the subject: Business

image
Business, 22.06.2019 19:30, jeanlucceltrick09
Consider the following two projects. both have costs of $5,000 in year 1. project 1 provides benefits of $2,000 in each of the first four years only. the second provides benefits of $2,000 for each of years 6 to 10 only. compute the net benefits using a discount rate of 6 percent. repeat using a discount rate of 12 percent. what can you conclude from this exercise?
Answers: 3
image
Business, 22.06.2019 19:40, raewalker23p4ibhy
Banana computers has decided to procure processing chips required for its laptops from external suppliers instead of manufacturing them in their own facilities. how will this decision affect the firm? a. the firm will be protected against the principal-agent problem. b. the firm's administrative costs will be low because of necessary bureaucracy. c. the firm will have more flexibility in purchasing and comparing prices of goods and services. d. the firm will have high-powered incentives, such as hourly wages and salaries.
Answers: 3
image
Business, 23.06.2019 05:00, autumnlyons69
Choose a well-known company that you know of, and describe its direct and indirect competitors. choose a well-known company that you know of, and describe its direct and indirect competitors. describe at least three direct competitors and three indirect competitors. at least three direct competitors and three indirect competitors.
Answers: 2
image
Business, 23.06.2019 10:10, choiboiqg8443
Swain company manufactures one product, it does not maintain any beginning or ending inventories, and its uses a standard cost system. the company's beginning balance in retained earnings is $65,000. it sells one product for $170 per unit and it generated total sales during the period of $603,500 while incurring selling and administrative expenses of $54,500. swain company does not have any variable manufacturing overhead costs and its standard cost card for its only product is as follows:
Answers: 1
You know the right answer?
Corrector guarantees its snowmobiles for three years. Company experience indicates that warranty cos...

Questions in other subjects:

Konu
Biology, 06.10.2019 04:40