Entries to reflect the transactions

Assignment Help Accounting Basics

Reference no: EM13153366

Dells company sells computers for 1500 each and also gives cash customer a 2 year warranty that requires the company to perform periodic service and to replace defective parts. during 2008 the company sold 700 computers. based on past experience the company has estimated the total 2 year warranty costs as 30 for parts and 60 for labor. assume sales all occur at Dec 31 2008.

In 2009 dells incurred actual warranty costs relative to 2008 computer sales of 100000 for parts and 180000 for labor.

a- Under the expenses warranty treatment give the entries to reflect the above transactions (accrual method) for 2008 and 2009.

b -Under the cash basis method what are the warranty expenses for 2008 and 2009.

c- The transactions of parts (a) create what balance under current liabilities in the 2008 balance sheet ?

Reference no: EM13153366

Questions Cloud

What is the equilibrium for this advertising strategy game : Does Budweiser have a dominant strategy and what is the equilibrium for this advertising strategy game? That is, in which cell will the firms end up?

What is the properties of both memory b and t cells : We know that in order for vaccines to be beneficial to us, the vaccine antigens must be able to acitvate our immune system in order to generate our memory cells. What is the properties of both memory B and T cells which make them more effective in..

Amount of interest expenses and discount amortization : construct a bond amortization table for this problem to indicate the amount of interest expenses and discount amortization at each May 31. Include only the first four years.

Does study give evidence that serotonin levels are different : What is your opinion: Does this study provide evidence that the postmortem serotonin levels are different between patients who die of heart disease and patients who die of other causes?

Entries to reflect the transactions : Under the expenses warranty treatment give the entries to reflect the above transactions (accrual method) for 2008 and 2009.

Which could be stimulated to create branching structures : Actin organization can be regulated by small GTPAses which stimulate actin binding proteins. Name one protein which could be stimulated to create branching structures.

Define chemical equation describing the freezing : Write a chemical equation describing the condensation process for CO2 and a chemical equation describing the freezing

What are some functions and characterisitcs : What are some functions and characterisitcs that differentiate TH-1 cells from TH-2 Cells? Which cell types would they regulate and their antibody that would be produced if their response was regulated by that specific T-Helper population?

Determining four accounting regulatory bodies : Examine at least four accounting regulatory bodies. Discuss how an organization complies with the standards of the regulatory bodies you selected.

User Account

All Pages