A company estimates the cost of products warranties to be 3% of sales. The beginning balance in Estimated Warranty Liability account is $15,000. Sales for the period was $795,000. During the period, $32,600 was actually paid for warranty related costs. What is the ending balance in the Warranty Liability account?
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|3||Contingent Liabilities - Warranties||Moderate|
|4||Purchasing with a Non-Interest Bearing Note||Moderate|
|1||Interest Bearing Notes||8:26|
|2||Non-interest Bearing Notes||6:16|
|4||What is Present Value||8:15|
|5||Simple vs Compound||14:41|
|6||PV of a Lump Sum||4:39|
|7||PV of a Lump Sum||6:09|
|9||Purchasing with an Annuity||4:31|
|10||Finding the Payment||6:07|