User Account

All Pages

Journalize the entry to record the warranty work

Assignment Help Accounting Basics
Reference no: EM131814440

Question - Accrued Product Warranty

Lachgar Industries warrants its products for one year. The estimated product warranty is 3% of sales. Assume that sales were $397,000 for September. In October, a customer received warranty repairs requiring $265 of parts and $95 of labor.

a. Journalize the adjusting entry required at September 30, the end of the first month of the current fiscal year, to record the accrued product

b. Journalize the entry to record the warranty work provided in October.

Reference no: EM131814440

Questions Cloud

Find the confidence interval using the t-distribution : A historical geographer is interested in the average number of children of households in a certain city in 1800. Rather than spend the time analyzing.
Estimate the proportion of residents of a city : A geographer is asked to determine the sample size necessary to estimate the proportion of residents of a city who are in favor of declaring the city a nuclear.
Discuss the company wished to minimize earnings : What would Kiyak's cost of goods sold be if the company wished to minimize earnings. Maximize earnings
What role does the stomach play in feelings of hunger : If you follow the traffic laws and rules because you believe they are legitimate and good for public welfare.
Journalize the entry to record the warranty work : Lachgar Industries warrants its products for one year. The estimated product warranty is 3% of sales. Journalize the entry to record the warranty work provided
Reduce the average waste of the residential households : The mayor and city council in a certain jurisdiction want to reduce the average waste of their residential households.
Determine the correct inventory amount on dec : Determine the correct inventory amount on Dec, Wilfred sold goods costing $34,000 to Lilja Company
Test the hypothesis that the farm holdings are producing : Department of Agriculture and Livestock Development researchers in Kenya estimate that yields in a certain district should approach the following amounts.
What would the net amount of each bonus check : What would the net amount of each bonus check be if the company did not gross up the bonus? Please demonstrate the proces used to achieve your answer

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much revenue will the company report

In December 2011, the Edstrom Company, which has a fiscal year ending on December 31. How much revenue will the company report for 2011 and 2012, respectively?

  Which segment was the most profitable

Compute the percentage growth in net sales for each product line from fiscal year 2008 to 2009. Round percents to one decimal.

  How stock index futures can be used for speculation

Discuss how stock index futures can be used for speculation and for hedging. What advantages are there to speculating with stock index futures.

  Prepare a variable costing income statement

Prepare an absorption costing income statement, with one column showing the results if 60,000 units are produced and one column showing the results if 90,000 units are produced.

  Medical and nursing staff affected the delivery of care

How has the evolution of medical technology, graduate medical education, and the professionalization of medical and nursing staff affected the delivery of care

  X company is considering replacing one of its machines in

x company is considering replacing one of its machines in order to save operating costs. operating costs with the

  Review the differences in the presentations of the 4 main

review the differences in the presentations of the 4 main financial statements income statement statement of owners

  Estimate of the total variable cost per unit is

Management has provided the following cost data for two levels of monthly sales volume

  Operating activities section of the statement of cash flows

Prepare the cash flows from operating activities section of the statement of cash flows

  The contribution margin per unit was 2 and fixed expenses

a total of 42600 units were sold last year. the contribution margin per unit was 2 and fixed expenses totaled 28400 for

  Production and cash-outlay computations rpr inc anticipates

production and cash-outlay computations rpr inc. anticipates that 120000 units of product k will be sold during may.

  The quick chips company a fast food manufacturer began

the quick chips company a fast food manufacturer began operations in january 2007. it issued 50000 shares of .25 par

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