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  • Accrued Liability and Expense: Requirement 1

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    Muhammad Haris Nugroho
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    108,000 Estimated warranty liability. 108,000 Actual expenditures (summary entry) Estimated warranty liability ($50,000 - $23,000) Loss on product warranty (3% - 2%] x $2,500,000). Cash, wages payable, parts and supplies, etc..

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    108,000 Estimated warranty liability. 108,000 Actual expenditures (summary entry) Estimated warranty liability ($50,000 - $23,000) Loss on product warranty (3% - 2%] x $2,500,000). Cash, wages payable, parts and supplies, etc..

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    © All Rights Reserved
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    4 views1 page

    Accrued Liability and Expense: Requirement 1

    Uploaded by

    Muhammad Haris Nugroho
    108,000 Estimated warranty liability. 108,000 Actual expenditures (summary entry) Estimated warranty liability ($50,000 - $23,000) Loss on product warranty (3% - 2%] x $2,500,000). Cash, wages payable, parts and supplies, etc..

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Requirement 1

    Accrued liability and expense


    Warranty expense (3% x $3,600,000) ............................................... 108,000
    Estimated warranty liability ...............................................
    108,000
    Actual expenditures (summary entry)
    Estimated warranty liability ...................................................
    Cash, wages payable, parts and supplies, etc. ...................

    88,000
    88,000

    Requirement 2
    Actual expenditures (summary entry)
    Estimated warranty liability ($50,000 $23,000)......................
    Loss on product warranty (3% 2%] x $2,500,000) ...................
    Cash, wages payable, parts and supplies, etc. ...................
    *(3% x $2,500,000) $23,000 = $52,000

    27,000
    25,000
    52,000*

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