Solution-Determine the amount of liability at december

Determine the amount of liability at december

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Reference no: EM132978713

Question - Determine the amount of liability at December 31, 2016 for each of the following independent cases:

Pistons Company sells portable DVD players for P28,000 each and offers to each customer a 3- year service contract for an additional P3,300. During 2016, the company sold 800 DVD players and 500 service contracts for cash. Expenses related to the service contracts for 2016 amount to P90,000. Past records of the company indicate that the pattern of repairs has been 50% in the year after the sale, 30% in the second year, and 20% in the third year. Sales of the contracts are made evenly during the year.

Reference no: EM132978713

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Determine the amount of liability at december : Determine the amount of liability at December 31, 2016 for each of the following independent cases: Pistons Company sells portable DVD players for P28,000 each

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Determine the amount of liability at december

Reference no: EM132978713

Reference no: EM132978713

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