Chapter 13 - 3,600 Net cost of CD players 12 Premium...

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Assignment 13-12) 1- Warranty expense Sales of musical instruments and sound equipment $5,700,000 Estimated warranty cost 0.02 Warranty expense for 2010 $ 114,000 2- Estimated liability from warranties Estimated liability for warranties $136,000 2010 warranty expense 114,000 Total $250,000 Actual warranty costs during 2010 164,000 Estimated liability from warranties 86,000 3- Premium expenses Coupons issued 1,200,000 Estimated rate 0.6 Estimated number of coupons to be redeemed 720,000
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Exchange rate 200 Estimated number to be issued
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Unformatted text preview: 3,600 Net cost of CD players 12 Premium expense 43,200 4- Inventory of premium CD players Inventory of premium CD players 37,600 CD player purchase in 2010 208,000 CD players available 245,600 CD players exchanged for coupons 192,000 Inventory of premium CD players 53,600 5- Estimated Premium claims outstanding Estimated Premium claims outstanding 44,800 Premium expense 43,200 Total 88,000 Actual redemption 72,000 Estimated Premium claims outstanding 16,000...
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This note was uploaded on 01/30/2011 for the course ACCOUNTING 441 taught by Professor Koren during the Spring '10 term at University of South Florida - Tampa.

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Chapter 13 - 3,600 Net cost of CD players 12 Premium...

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