Unformatted text preview: Required: 1. Prepare journal entries to summarize the sales and any aspects of the warranty for 2013. 2. What amount should Cap City report as a liability at December 31, 2013? AACSB: Analytic AICPA FN: Measurement Blooms: Apply Difficulty: 2 Medium Learning Objective: 13-06 Demonstrate the appropriate accounting treatment for contingencies; including unasserted claims and assessments. Topic: Accounting for contingencies...
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- Spring '11
- actual warranty expenditures, two-year warranty, Cap City Inc., Cap City