User Account

All Pages

What is the balance in the unearned warranty revenue

Assignment Help Accounting Basics
Reference no: EM133045659

Question - Burnaby corp. uses the Revenue approach to account for warranties. During 2020, the company sold $780,000 worth of products, all of which carried a two- year warranty (included in the price).It was estimated that 2% of the selling price represented the warranty portion, and that 40% of this related to 2020, and 60% to 2021. Assuming that Burnaby incurred costs of %2500 to service the warranties in 2020, and $5800. What is the balance in the unearned warranty Revenue account at the end of 2020?

Reference no: EM133045659

Questions Cloud

What is the late penalty : If you electronically filed your return on November 25 and owed $7800, what is the late penalty? Use actual time and assume the deadline is April 15
Provide the journal entries to account for the revaluation : Provide the journal entries to account for the revaluation on 30 June 2022. Petersen Ltd classifies the residential land and the factory land as different class
Sustainability and social responsibility launch : ForChange can use to measure the online marketing launch and three KPIs for the sustainability and social responsibility launch?
How a budget and a schedule of resources are involved : One of the supervisor's functions is planning. Explain how a budget and a schedule of resources are involved in the planning function.
What is the balance in the unearned warranty revenue : Assuming that Burnaby incurred costs of %2500 to service the warranties in 2020, and $5800. What is the balance in the unearned warranty Revenue
Monitor the effectiveness of roster : List three (3) ways you can monitor the effectiveness of your roster.
how much does Matt need to increase production : Given those parameters, and assuming the management team pursues these strategies, how much does Matt need to increase production
Male and female sterilization procedures : 1. What are some of the ethical concerns of both male and female sterilization procedures?
Food and beverage manager for high street hotel : CASE STUDY 1: You are the Food and Beverage Manager for High Street Hotel. Therefore you are responsible for overseeing all staffing rosters and associated budg

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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