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Can you please help me with this problem ??? To support herself while attending school, Daun De, ch sold tereo systems to other students. Du,
Can you please help me with this problem ??? To support herself while attending school, Daun De, ch sold tereo systems to other students. Du, g operations, Daun purchased the stereo systems for $210,000 and sold them for $320,000 cash. She with a one-year warranty against defects in parts and iabor Based on industry standards, she estimated that warrar would amount to 2 percent of sales. During the year, she paid $3,520 cash to replace a defective tuner Required Prepare an income statement and statement of cash flows for Daun's first year of operation. (Statement of Cash Fle items to be deducted must be indicated with a negative amount.) Answer is complete and correct. DAUN'S STEREOS State |$ 320,000 01210000) 110.000 Cost of goods sold 6.400 103,600 Next > 6 Statement of Cash $ 320,000 (210,000) Inflow from customers Outflow for warranty expense(3.520) Inflow from expenses | 106.4800 212,960 Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities $212,960 Ending cash balance $212,960 What is Daun's total warranties liability at the end of the accounting period? Answer is complete but not entirely correct. s 3,150 C To support herself while attending school, Daun De, ch sold tereo systems to other students. Du, g operations, Daun purchased the stereo systems for $210,000 and sold them for $320,000 cash. She with a one-year warranty against defects in parts and iabor Based on industry standards, she estimated that warrar would amount to 2 percent of sales. During the year, she paid $3,520 cash to replace a defective tuner Required Prepare an income statement and statement of cash flows for Daun's first year of operation. (Statement of Cash Fle items to be deducted must be indicated with a negative amount.) Answer is complete and correct. DAUN'S STEREOS State |$ 320,000 01210000) 110.000 Cost of goods sold 6.400 103,600 Next > 6 Statement of Cash $ 320,000 (210,000) Inflow from customers Outflow for warranty expense(3.520) Inflow from expenses | 106.4800 212,960 Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities $212,960 Ending cash balance $212,960 What is Daun's total warranties liability at the end of the accounting period? Answer is complete but not entirely correct. s 3,150 C
Can you please help me with this problem ???
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