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?
| Click Here to View All Chapter 10 Problems at Once | View | ||
| 1 | Bond Theory Multiple Choice | Easy | |
| 2 | Bond Issue Prices | Moderate | |
| 3 |
Contingent Liabilities
You are here. |
Moderate | |
| 4 | Contingent Liabilities - Warranties | Moderate | |
| 5 | Coupon and Market Rates Multiple Choice | Moderate | |
| 6 | Bond Amortization | Hard | |
| 7 | Bond Retirement | Hard |
| 1 | Intro to Bonds | 10:04 | |
| 2 | Discounts and Premiums | 7:34 | |
| 3 | Selling at a Discount | 7:15 | |
| 4 | Selling for a Premium | 8:11 | |
| 5 | Amortization | 21:42 | |
| 6 | Borrowing Cost | 6:33 | |
| 7 | Interacting with Market Rates | 5:30 | |
| 8 | Retiring Bonds | 9:54 | |
| 9 | Contingencies | 5:58 |