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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
النسخة 3الرقم المعياري الدولي: 978-0132962339Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
النسخة 3الرقم المعياري الدولي: 978-0132962339 تمرين 7
Accounting for warranty expense and warranty payable
The accounting records of Clay Ceramics included the following at January 1, 2012:
In the past, Clay's warranty expense has been 8% of sales. During 2012, Clay made sales of $136,000 and paid $7,000 to satisfy warranty claims.
Requirements
1. Journalize Clay's warranty expense and warranty payments during 2012 Explanations are not required.
2. What balance of Estimated warranty payable will Clay report on its balance sheet at December 31, 2012
The accounting records of Clay Ceramics included the following at January 1, 2012:
In the past, Clay's warranty expense has been 8% of sales. During 2012, Clay made sales of $136,000 and paid $7,000 to satisfy warranty claims.
Requirements
1. Journalize Clay's warranty expense and warranty payments during 2012 Explanations are not required.
2. What balance of Estimated warranty payable will Clay report on its balance sheet at December 31, 2012
التوضيح
موثّق
موثّق
1. This exercise requires application of...
Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
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