Class3-solution

Class3-solution - EXERCISE 13-11(a Cash 3,000,000 Sales...

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EXERCISE 13-11 (a) Cash. .......................................................... .................................................................... 3,000,000 Sales. ................................................. 3,000,000 (500 x $6,000) Warranty Expense. ................................... 20,000 Cash. .................................................. 20,000 Warranty Expense. ................................... 100,000 Estimated Liab. Under Warranties. 100,000 ($120,000 – $20,000) (b) Cash. .......................................................... .................................................................... 3,000,000 Sales. ................................................. 2,850,000 Unearned Warranty Revenue. ......... 150,000 Warranty Expense. ................................... 20,000 Cash. .................................................. 20,000 Unearned Warranty Revenue. ................. 25,000 Warranty Revenue. ........................... 25,000 [$150,000 x ($20,000/$120,000)]
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This note was uploaded on 12/04/2009 for the course MGMT 351 taught by Professor Staff during the Spring '08 term at Purdue.

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Class3-solution - EXERCISE 13-11(a Cash 3,000,000 Sales...

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