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Pink Company had a warranty liability of P350,000 at the beginning of current year and P310,000 at end of current year. Warranty expense is based on 4% of sales which amounted to P50,000,000 for the year. What amount of warranty expenditures was incurred for the current year? 2,040,000 b. 1,900,000 c. 2,000,000 d.

Pink Company had a warranty liability of P350,000 at the beginning of current year and P310,000 at end of current year. Warranty expense is based on 4% of sales which amounted to P50,000,000 for the year. What amount of warranty expenditures was incurred for the current year? 2,040,000 b. 1,900,000 c. 2,000,000 d.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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d. 0. Problem 3-9 (IAA) 1 Pink Company had a warranty liability of P350,000 at the beginning of current year and P310,000 at end of current year. Warranty expense is based on 4% of sales which amounted to P50,000,000 for the year. What amount of warranty expenditures was incurred for the current year? Ta 2,040,000 b. 1,900,000 c. 2,000,000 d. Problem 3-10 (IAA) halance of P800,000 in the warranty The warranty d a
Transcribed Image Text:d. 0. Problem 3-9 (IAA) 1 Pink Company had a warranty liability of P350,000 at the beginning of current year and P310,000 at end of current year. Warranty expense is based on 4% of sales which amounted to P50,000,000 for the year. What amount of warranty expenditures was incurred for the current year? Ta 2,040,000 b. 1,900,000 c. 2,000,000 d. Problem 3-10 (IAA) halance of P800,000 in the warranty The warranty d a
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