User Account

All Pages

Indicated that actual claims were less than expected

Assignment Help Accounting Basics
Reference no: EM13879270

1.In 2012, Quapau Products introduced a new line of hot water heaters that carry a one year warranty against manufacturer's defects. Based on industry experience, warranty costs were expected to approximate 5% of sales revenue. First year sales of the heaters were $300,000. An evaluation of the company's claims experience in late 2013 indicated that actual claims were less than expected 4% of sales rather than 5%. Assuming sales of the heaters in 2013 were $350,000 and warranty expenditures in 2013 totaled $12,000, what is the 2013 warranty expense?

Reference no: EM13879270

Questions Cloud

Reference validation mechanism and toe security functions : What are the conceptual differences between a reference validation mechanism, a trusted computing base, and the TOE Security Functions and How will you explain to the management of this company why their software is not a high assurance software.
Briefly describe the steps j j should take to report : Briefly describe the steps J J should take to report the change
What is the tax treatment of the scholarship : What is the tax treatment of the scholarship? Is Andrew required to include it as income on his tax return? Is Andrew eligible for the education credits?
Determine the total pressure drop : The mercury manometer reads a 6-in height. The pressure drop p2 - p1 is partly due to friction and partly due to gravity. Determine the total pressure drop and also the part due to friction only. Which part does the manometer read? Why?
Indicated that actual claims were less than expected : 1.In 2012, Quapau Products introduced a new line of hot water heaters that carry a one year warranty against manufacturer's defects. Based on industry experience,
Prepare a cash budget with columns for each month : Prepare a cash budget with columns for each month, January through March 2003, and a fourth column for the quarterly totals
Determining the average velocity in the pipe : Water at 20°C is pumped at 1500 gal/min from the lower to the upper reservoir, as in Fig. P3.141. Pipe friction losses are approximated by hf ˜ 27V2 /(2g), where V is the average velocity in the pipe.
The machine''s useful life was expected to be five years : traight line depreciation is used by PKE. Ignoring income taxes, what journal entry will PKE use to correct the error?
Design a vortex flow meter : Vortex shedding can be used to design a vortex flow meter (Fig.). A blunt rod stretched across the pipe sheds vortices whose frequency is read by the sensor downstream. Suppose the pipe diameter is 5 cm and the rod is a cylinder of diameter 8 mm.

Reviews

Write a Review

Accounting Basics Questions & Answers

  In recording its adopted operating budget a village debits

in recording its adopted operating budget a village debits estimated revenues 1000000 and credits appropriations

  Identify and explain the top five reasons

Identify and explain the top five reasons private companies go public.

  Effort to limit class size to reasonable level

Problem: SO University's business program has the facilities to handle 2,000 students per semester. In an effort to limit class size to reasonable level (under 200).

  Describe the advantages of the four different special

explain in 250 to 300 words your answers to the followingwhat are the advantages of the four different special

  Benson and orton are partners who share income in the ratio

benson and orton are partners who share income in the ratio of 23 and have capital balances of 60000 and 40000

  Lillian is looking for ideas to write about and decides to

lillian is looking for ideas to write about and decides to make a list of everything she can think of that relates to

  Determine the effects of events on aaa

She receives a $6,000 distribution, and her share of S corporation items includes a $2,000 long-term capital gain and a $9,000 ordinary loss. Determine the effects of these events on AAA, stock basis, and AEP.

  On june 1 royal corp began operating a service company with

on june 1 royal corp. began operating a service company with an initial cash investment by shareholders of 3900000. the

  Ramona stolton and jerry bright are partners in a business

ramona stolton and jerry bright are partners in a business they started two years ago. the partnership agreement states

  If congress increased the personal tax rate on interest

if congress increased the personal tax rate on interest dividends and capital gains but simultaneously reduced the rate

  There is a retail store selling dvds this business is

there is a retail store selling dvds. this business is relatively simple with approximately the same contribution

  Important characteristics of generally accepted accounting

Explain the important characteristics of Generally Accepted Accounting Principles or standards. Why are these characteristics of GAAP important?

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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