The amount charged to warranty expense

Assignment Help Accounting Basics

Reference no: EM13320208

The following information is available for Kessler Company after its first year of operations:

Income before taxes $250,000

Federal income tax payable $104,000

Deferred income tax (4,000)

Income tax expense 100,000

Net income $150,000

Kessler estimates its annual warranty expense as a percentage of sales. The amount charged to warranty expense on its books was $105,000. Assuming a 40% income tax rate, what amount was actually paid this year for warranty claims?

Reference no: EM13320208

Questions Cloud

Calculate the maximum kinetic energy of electrons : Calculate the maximum KE of electrons emitted from a photo surface of work function 3.2 ev for the incident radiation of wavelength 300 nm

Lehman corporation purchased a machine : Lehman Corporation purchased a machine on January 2, 2011, for $2,000,000. The machine has an estimated 5-year life with no salvage value.

Calculate torque that must be applied to prevent : If N= 200, r = 5 cm, I = 2.5 A, B = 0.25 T Plane of coil makes an angle of 60 degree, with field line. Calculate torque that must be applied to prevent

Determine the components of displacement at 1 : Determine the components of displacement at 1. Take E = 200 GPa, I = 250(10^6) mm^4, A = 12(10^3) mm^2 for each member.

The amount charged to warranty expense : Kessler estimates its annual warranty expense as a percentage of sales. The amount charged to warranty expense on its books was $105,000. Assuming a 40% income tax rate, what amount was actually paid this year for warranty claims?

Determine the ratio of their activities at this instant : Two different elements with half lives Ta and Tb have Na & Nb (undecayed) atoms respectively, Determine the ratio of their activities at this instant

Iterative and incremental developments : Iterative and Incremental developments: focusing on unified Software

Calculate energy loss and approximate dimension of the jump : A wide rectangular channel has a change of slope from 1 in 100 to 1 in 500 and the flow is 4m3/s/m. Manning's n can be taken as 0.015 Determine the normal depth of flow before and after the change in gradient.

Find the total impedance in this circuit : A coil with inductance 370 mH is connected in series with a 220 ohm resistor, a 47.0 microF capacitor and a 25.0 V, 60.0 Hz AC source. Find the total impedance in this circuit

User Account

All Pages