User Account

All Pages

Calculate the entry to record the customer warranty repairs

Assignment Help Accounting Basics
Reference no: EM132194012

Question - During August, Boxer Company sells $356,000 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 $12,800 before adjustment. Customers returned merchandise for warranty repairs during the month that used $9,400 in parts for repairs. Calculate the entry to record the customer warranty repairs?

Reference no: EM132194012

Questions Cloud

What adjusting entry should be made by otisco : What adjusting entry should be made by Otisco, Inc. for the adjustment on December 31 of the first year
What was the amount recorded in the cost : On November 8, it sold 12 units for $54 each. Using the perpetual LIFO inventory method, what was the amount recorded in the cost of goods sold account
Explain what the mineral is used for : Discuss one method of how this mineral resource could be used more sustainably and support your discussion with at least one example.
Is the use of social media at work an employee right : HR professionals are discovering the value of using Facebook, Linked In, and other social media for recruiting. Other areas in organizations such as sales.
Calculate the entry to record the customer warranty repairs : Customers returned merchandise for warranty repairs during the month that used $9,400 in parts for repairs. Calculate the entry to record the customer warranty
Describe the diagnosis and staging of cancer : Describe at least three complications of cancer, the side effects of treatment, and methods to lessen physical and psychological effects.
Primary means of behavioral control : Discuss the relationship between types of organizations and their primary means of behavioral control.
What credit or credits will the entry consist : The entry to record the transaction will consist of a debit to Cash for $672,000. What credit or credits will the entry consist
What are some ways that training could be done differently : The diversity of the U.S. population has changed significantly over the past decade, and more shifts are expected over the next 20 years. Some examples include.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare the journal entries for the sale of the bonds

On January 1, 2016, Knorr Corporation issued $1,000,000 of 9%. Prepare the journal entries for the sale of the bonds and the first two interest payments.

  Examine the ethical issues and dilemmas rank-order the

examine the ethical issues and dilemmas. rank-order the issues in terms of their negative impact on both business and

  How is operation costing different from job

What is operation costing and how is it similar to job and process costing? How is operation costing different from job and process costing

  What is the opportunity cost for this special order

What is the opportunity cost for this special order. Should the order be accepted. Show calculations and explain

  Knudsen corporation was organized on january 1 2013 during

knudsen corporation was organized on january 1 2013. during its first year the corporation issued 2000 shares of 50 par

  Provision of accounting information

Proponents of the ‘Free Market‘ approach argue that provision of accounting information should be based on the laws of supply and demand rather than on regulation.

  How much contribution revenue should nadp recognize

How much contribution revenue should United Charity recognize, and how much contribution revenue should NADP recognize at that time?

  The corporate charter authorizes the issuance

In late 2012, the Nicklaus Corporation was formed.

  How much overhead cost would be assigned to product

Last year, Product F76D involved 3 customer orders, 496 assembly hours, and 27 batches. How much overhead cost would be assigned to Product F76D

  This situation is very similar to what a company called

this situation is very similar to what a company called enron did several years ago. use the internet or the university

  Discuss the potential tax consequence

Discuss the potential tax consequence that could result by deferring the sale of stock into a different tax year. Be specific with your recommendations

  Discuss what is the doctrine of determinism

What is the doctrine of determinism? How does Skinner's view fit with this theory? What is operant conditioning

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd