At January 1, 2019, the Accrued Warranty Payable is $ 1 comma 100. During 2019, the company recorded Warranty Expense of $ 19

Question

3 years ago

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At January 1, 2019, the Accrued Warranty Payable is $ 1 comma 100. During 2019, the company recorded Warranty Expense of $ 19

comma 100. During 2019, the company replaced defective products in accordance with product warranties at a cost of $ 12 comma 800. What is the Accrued Warranty Payable at December 31, 2019?

Business

1 answer:

never [62] · Answer 1 · 2022-04-18T06:52:25+03:00

Answer:

$7,400

Explanation:

The computation of the accrued Warranty Payable at December 31, 2019 is shown below:

= Opening balance in accrued warranty payable + warranty expense - defective products

= $1,100 + $19,100 - $12,800

= $7,400

We simply applied the above formula so that the Accrued Warranty Payable at December 31, 2019 could come

At January​ 1, 2019, the Accrued Warranty Payable is $ 1 comma 100. During​ 2019, the company recorded Warranty Expense of $ 19

At January 1, 2019, the Accrued Warranty Payable is $ 1 comma 100. During 2019, the company recorded Warranty Expense of $ 19