1-18-11 Solutions

1-18-11 Solutions - EXERCISE 13-11 (a)

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Unformatted text preview: EXERCISE 13-11 (a) Cash....................................................................... ................................................................................ 3,000,000 Sales (500 X $6,000).................................... 3,000,000 Warranty Expense................................................ 30,000 Cash, Inventory, Accrued Payroll............. 30,000 Warranty Expense................................................ 90,000 Estimated Liability Under Warranties ($120,000 $30,000)................................. 90,000 (b) Cash....................................................................... ................................................................................ 3,000,000 Sales............................................................. 2,840,000 Unearned Warranty Revenue..................... 160,000 Warranty Expense................................................ 30,000 Cash, Inventory, Accrued Payroll............. 30,000 Unearned Warranty Revenue.............................. 40,000 Warranty Revenue [$160,000 X ($30,000/$120,000)].............. 40,000 EXERCISE 13-16...
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1-18-11 Solutions - EXERCISE 13-11 (a)

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