Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - ABC Company provides 3-Year warranty for the products it sells. ABC estimates cost of warranty is 2% in the year of sale, 3% a year after and 5% thereafter. As of January 1, 2021, During the year 2021 ABC sold 50,000 units which cost P100 per product and 60,000 unit at the same cost the following year.
Company sells their product at 50% above of their cost and actual warranty cost incurred were P350,000 & P450,000 in 2021 and 2022 respectively.
Required -
1. How much is the warranty expense to be recognized in 2021?
2. How much is the balance of warranty obligation as of December 31, 2021?
3. How much is the balance of warranty obligation as of December 31, 2022?
What is the correct interest income be reported in the December 31, 2020 Statement of Comprehensive Income
What is the consequence of failing to make an adjusting entry at the end of the first quarter for the amount of supplies that been used during the quarter?
Latte has a unit contribution margin of $45 and takes three machine hours to make and cappuccino has a unit contribution margin of $32 and takes two machine hours to make. There are 1,200 machine hours available to manufacture a product. Illustra..
What Lincolns ROE the year will most likely be? At the end of last year, Lincoln Corporation wrote-off goodwill that was created as a result of a business
Solve for the Net Present Value of the years. You are planning to set up a food stall inside your village. You plan to sell items such as fish balls, squid ball
The convention of consistency refers to consistent use of accounting principles:
Briefly discuss the reporting requirements of IPSAS 24: Presentation of budget information and justify the relevance of this standard in governmental
What is your role? Who are you reporting to and what are their objectives? How is that person's objectives affected by accounting information?
Implementing one of the performance measures - Balanced Scorecard and economic Value Added - It has asked you to prepare a summary and make a recommendation as to what performance measure should be used.
Should penalties for breaches of the financial reporting requirements of the Corporations Act be increased? Discuss or explain.
Is the recreation center a governmental proprietary activity? Many cities are building large recreational complexes with combination of public funding from tax revenues and user fees. Give an example of governmental recreation complex and why you bel..
What is the average number of shares that should be used in calculating basic earnings per share? Jet company provided the information
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd