Solution-What was the balance in the warranty liability

What was the balance in the warranty liability account

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Reference no: EM132594282

Question: Jammer Jumps sold 100 bounce houses at $5,000 each.

The bounce houses carry a 5-year warranty for defects. Jammer estimates that repair costs will average 4% of the total selling price. The estimated warranty liability at the beginning of the year was $42,000. Claims of $11,000 were actually incurred during the year to honor their warranties.

What was the balance in the warranty liability account at the end of the year?

Reference no: EM132594282

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What was the balance in the warranty liability account

Reference no: EM132594282

Reference no: EM132594282

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