4 years ago Estimated Warranty Expense $11839 Actual Warranty Claims $12122 3 years ago Estimated Warranty Expense $11120 Actual Warranty Claims $13070 2 years ago Estimated Warranty Expense $18560 Actual Warranty Claims $21660 1 years ago Estimated Warranty Expense $14800 Actual Warranty Claims 17660 Lynx Estimated Warranty Expense Percentage by Model 4 Current Year Sales by Model 80 000 Puma Estimated Warranty Expense Percentage by Model 7 Current Year Sales by Model 60 000 Jag Estimated Warranty Expense Percentage by Model 6 Current Year Sales by Model 105 000 1 How much total estimated warranty expense does Arctica report for the current year 2 Record the adjusting entry at year end of the current year to recognize warranty expense 3 A customer brings in a snowmobile for warranty repairs on January 15 of the following year and the replacement parts cost $700 Record the journal entry for this repair Options for General Journal Accounts payable Accrued payroll payable Bonus payable Cash Cost of goods sold Deferred income tax liability Earned services revenue Earned ticket revenue Employee benefits plan payable Employee bonus expense Employee fed inc taxes payable Employee life insurance payable Employee medical insurance payable Employee union dues payable Estimated warranty liability Federal unemployment taxes payable FICAMedicare taxes payable FICASocial sec taxes payable Income taxes expense Income taxes payable Interest expense Interest payable Merchandise inventory Notes payable Payroll taxes expense Repair parts inventory Salaries expense Salaries payable Sales Sales salaries expense Sales taxes payable State unemployment taxes payable Unearned services revenue Unearned ticket revenue Vacation benefits expense Vacation benefits payable Wages expense Warranty expense We are hired as consultants to assist Arctica Company in accounting for its warranty expenses Arctica offers a one year warranty covering parts on each snowmobile it sells The following Tableau Dashboard is provided to assist us Current Year Sales by Model Complete this question by entering your answers in the tabs below How much total estimated warranty expense does Arctica report for the current year Record the adjusting entry at year end of the current year to recognize warranty expense Journal entry worksheet Note Enter debits before credits A customer brings in a snowmobile for warranty repairs on January 15 of the following year and the replacement parts cost $700 Record the journal entry for this repair Journal entry worksheet Record the cost of warranty repairs Note Enter debits before credits

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4 years ago: Estimated Warranty Expense: $11839 Actual Warranty Claims: $12122 3 years ago: Estimated Warranty Expense: $11120 Actual Warranty Claims: $13070 2 years ago:

4 years ago: Estimated Warranty Expense: $11839 Actual Warranty Claims: $12122 3 years ago: Estimated Warranty Expense: $11120 Actual Warranty Claims: $13070 2 years ago: Estimated Warranty Expense: $18560 Actual Warranty Claims: $21660 1 years ago: Estimated Warranty Expense: $14800 Actual Warranty Claims: 17660 Lynx - Estimated Warranty Expense Percentage by Model: 4% Current Year Sales by Model: 80 000 Puma - Estimated Warranty Expense Percentage by Model: 7% Current Year Sales by Model: 60 000 Jag - Estimated Warranty Expense Percentage by Model: 6% Current Year Sales by Model: 105 000 1. How much total estimated warranty expense does Arctica report for the current year? 2. Record the adjusting entry at year-end of the current year to recognize warranty expense. 3. A customer brings in a snowmobile for warranty repairs on January 15 of the following year and the replacement parts cost $700. Record the journal entry for this repair. image text in transcribed Options for General Journal

Accounts payable
Accrued payroll payable
Bonus payable
Cash
Cost of goods sold
Deferred income tax liability
Earned services revenue
Earned ticket revenue
Employee benefits plan payable
Employee bonus expense
Employee fed. inc. taxes payable
Employee life insurance payable
Employee medical insurance payable
Employee union dues payable
Estimated warranty liability
Federal unemployment taxes payable
FICAMedicare taxes payable
FICASocial sec. taxes payable
Income taxes expense
Income taxes payable
Interest expense
Interest payable
Merchandise inventory
Notes payable
Payroll taxes expense
Repair parts inventory
Salaries expense
Salaries payable
Sales
Sales salaries expense
Sales taxes payable
State unemployment taxes payable
Unearned services revenue
Unearned ticket revenue
Vacation benefits expense
Vacation benefits payable
Wages expense
Warranty expense

We are hired as consultants to assist Arctica Company in accounting for its warranty expenses. Arctica offers a one-year warranty covering parts on each snowmobile it sells. The following Tableau Dashboard is provided to assist us. Current Year Sales by Model Complete this question by entering your answers in the tabs below. How much total estimated warranty expense does Arctica report for the current year? Record the adjusting entry at year-end of the current year to recognize warranty expense. Journal entry worksheet Note: Enter debits before credits. A customer brings in a snowmobile for warranty repairs on January 15 of the following year and the replacement parts cost $700. Record the journal entry for this repair. Journal entry worksheet Record the cost of warranty repairs. Note: Enter debits before credits