About this document
Warranty and Inventory Financial Summary by Imeli Yuntiana is a document available to read on EtoBox.
The document shows accounting entries for warranty liability and revenue over multiple years: 2015: A company recognizes $45,000 in warranty expense and liability for products sold with a warranty. $17,000 of the liability is paid out. 2016: The remaining $28,000 warranty liability is paid out of retained earnings. 2017: The company sells $3 million in products with a 3 year warranty, recognizing $3 million in revenue and $120,000 in warranty expense and liability. $30,000 of the liability is paid out.
- Author
- Imeli Yuntiana
- Language
- EN