Homework #1

Homework #1 - Schmitt Company Warranty and Coupon...

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Unformatted text preview: Schmitt Company Warranty and Coupon Computation Year Ended Decemeber 31st 2011 P13-14 Part 1 Sales $800,000 1,100,000 1,200,000 $3,100,000 Percent 5% 3% 2% 10% Warranty Expenditure $6,500 17,200 62,000 $310,000 $85,700 Jeffrey Witt 2/2/10 Warranty Liability 2009 2010 2011 Total $224,300 Part 2 Coupon $30,000 Percent 40% $12,000 Redeemed $8,000 $4,000 Owed $9,000 Coupon Laibility $13,000 Jeffrey Witt 2/2/10 arranty Liability oupon Laibility ...
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