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Problems: Please show all calculations. Claudette, Inc., provides warranties for many of its products. The January 1, 2014, balance of the Estimated Warranty Liability account was $38,500. Based on an analysis of warranty claims during the past several years, this year's warranty provision was estimated to be 1% of sales. During 2014, the actual costs of servicing products under warranty were $51,000, and sales were $5,300,000. 1.) What amount of Warranty Expense will appear on the income statement for 2014? 2.) What amount will be reported in the Estimated Warranty Liability account on the December 31, 2014 balance sheet?
What are examples of deferred revenue expenditure? Ans) It is an expenditure the advantage of which will be realized over a period and not during the present period. Ex-Heavy Ad
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On october 5 2011 mara hotel collectedmthe amount of 180000 repreesenting advanced rental from a tenant who occupies space of the building. tHe advanced rental willcover the period
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