AA 01-3 Global Analysis LO C1

Access Samsungs 2017 annual report from its website (Samsung.com). Like Apple, Samsung offers warranties on its products. Use Apple's financial statements in Appendix A.

In millions of Korean won	Warranty liability
Balance at January 1, 2017		1,747,857
Charged to the statement of profit or loss		2,032,311
Payment	(	1,920,926	)
Other		152,336
Balance at December 31, 2017		2,011,578

Required: 1-a. What amount of warranty expense did Samsung record during 2017? 1-b. What amount of warranty claims did Samsung pay in 2017? 2-a. What amount of warranty expense did Apple record during 2017? 2-b. What amount of warranty claims did Apple pay in 2017? 3. which company was more accurate in estimating warranty claims for 2017?