Horngren's Accounting, Student Value Edition Plus MyLab Accounting with Pearson eText -- Access Card Package (12th Edition)

12th Edition

ISBN: 9780134642932

Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura

Publisher: PEARSON

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Textbook Question

Chapter 11, Problem E11.21E

Accounting for warranty expense and warranty payable

Chapter 11, Problem E11.21E, Accounting for warranty expense and warranty payable The accounting records of Sculpted Ceramics , example 1

The accounting records of Sculpted Ceramics included the following at January 1, 2018:

Chapter 11, Problem E11.21E, Accounting for warranty expense and warranty payable The accounting records of Sculpted Ceramics , example 2

In the past, Sculpted’s warranty expense has been 9% of sales. During 2018, Sculpted made sales of $113,000 and paid $7,000 to satisfy warranty claims.

Requirements

1. Journalize Sculpted’s warranty expense and warranty payments during 2018. Explanations are not required.

2. What balance of Estimated Warranty Payable will Sculpted report on s balance sheet at December 31, 2018?

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Chapter 11, Problem E11.20E

Chapter 11, Problem E11.22E

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Chapter 11 Solutions

Horngren's Accounting, Student Value Edition Plus MyLab Accounting with Pearson eText -- Access Card Package (12th Edition)

Ch. 11 - On January 1, 2018, a business borrowed $18,000 on...Ch. 11 - Prob. 2QC Ch. 11 - Prob. 3QC Ch. 11 - Prob. 4QC Ch. 11 - Prob. 5QC Ch. 11 - Prob. 6QC Ch. 11 - Prob. 7QC Ch. 11 - Prob. 8QC Ch. 11 - Prob. 9QC Ch. 11 - McDaniel and Associates reported the following...

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