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Question - DEF Company grants a 3-year warranty on its products. The Estimated Liability for Product Warranty account has a beginning balance of P300,000. A review of the company's policy of accounting for warranties revealed that based on the company's past experience, warranty claims averaged 5% on net sales.
Gross sales P8,350,000
Sales returns and allowances 400,000
Cost of sales 4,790,000
The cost of sales included P500,000 cost of servicing the warranty claims for the year.
How much is the balance of the estimated liability for product warranty at the end of the year?
The desired after-tax rate of return is 15 percent. All cash flows occur at year's end. What is the net present value of the capital investment proposal
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