Estimated cost for product warranties

Assignment Help Accounting Basics
Reference no: EM13151283

In a recent annual report, Apple Computer reported the following in one of its disclosure notes: "Warranty Expense: The Company provides currently for the estimated cost for product warranties at the time the related revenue is recognized." This note exemplifies Apple's use of?

Reference no: EM13151283

Questions Cloud

What is the overhead rate per hour? : contemplating awarding a contract to the Azusa Manufacturing company for the assembly of wiring harnesses. Included in the cost estimate was 3,000 hours of direct labor. The company uses a plant-wide overhead rate. Assume that the projected overhead ..
Compute the volume actually occupied by the atoms : Consider an aluminum atom to be a sphere with radius equal to 143 pm and calculate the volume actually occupied by the atoms in your aluminum cylinder
Why does a larger government budget deficit increase : Why does a larger government budget deficit increase the magnitude of the crowding-out effect and how does the multiplier work and what might government use it for?
Rank order these three ideas : Name 5 stylized facts about the business cycle.2. Rank order these three ideas from "most optimistic about how a temporary tax raises consumer spending" to "least optimistic" about the same, and explain.
Estimated cost for product warranties : In a recent annual report, Apple Computer reported the following in one of its disclosure notes: "Warranty Expense: The Company provides currently for the estimated cost for product warranties at the time the related revenue is recognized." This n..
How do fixed costs play a role in your analysis : How do fixed costs play a role in your analysis? What is the difference between shutting down and going out of business?
Purpose of and method of depreciation for partial years : Explain the purpose of and method of depreciation for partial years.
Is the phenotype always representative of the genotype : Is the phenotype always representative of the genotype of an organism? How does the number stay constant in subsequent generations in sexually reproducing species?
Determine if more money should be granted to researchers : The meaning of the standard deviation, and any other relevant comments you would have if you were a member of the committee evaluating this study to determine if more money should be granted to these researchers.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Describe the three broad types of irs audits

Describe the three broad types of IRS audits. Give an example of an issue that each type of audit might address, and indicate how frequently such audits are conducted by the IRS.

  Who are the stakeholders in this situation

Who are the stakeholders in this situation? What are the ethical issues involved? What would you do?

  Traditional income statement

Would a traditional income statement differ depending on whether the business is a service organization, merchandiser, or manufacturer?

  Computing the gross profit percentage

What is the amount of the gross profit? Compute the gross profit percentage (gross profit divided by sales). Will the income statement necessarily report a net income? Explain"

  Decrease in the investment account

Which of the following results in a decrease in the investment account when applying the equity method?

  Calculating profitability index bill plans

Calculating Profitability Index Bill plans to open a self-serve grooming center in a storefront. The grooming equipment will cost $210,000, to be paid immediately.

  Calculation of cash flow from operations treats depreciation

On a statement of cash flows that uses the indirect approach, calculation of cash flow from operations treats depreciation as an adjustment to reported net income because:

  Calculate the recomputed basis of property

Calculate the recomputed basis of the property. Calculate the amount of ordinary income under Section 1245. Calculate the Section 1231 gain.

  Tax strategies for individual investments and planning

Generally, tax strategies operate in two time frames - now and later. " Now" refers to the twelve months of the current tax year. "Later" refers to the long-range tax strategies that benefit taxpayer future.

  Problem regarding estimated inventory

Data for the first six months of 2011 include: beginning inventory at cost and retail were $55,000 and $100,000, net purchases at cost and retail were $785,000 and $1,300,000, and sales during the first six months totaled $800,000. The estimated i..

  Loss contingency accrued in a company financial statements

A loss contingency shoulf be accrued in a company's financial statements only if the likelihood that a liability has been incurred is:

  Comparing and contrasting federal and state tax research

Write down a 3-5 pg paper comparing and contrasting Federal and state tax research. Examine the different constitutionality challenges with regard to Federal and state taxes.

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!

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