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Managerial accounting is more than recording, maintaining, and reporting financial results. Managerial accountants must provide managers with both financial and nonfinancial information including estimates, projections,
Managerial accounting is more than recording, maintaining, and reporting financial results. Managerial accountants must provide managers with both financial and nonfinancial information including estimates, projections, and forecasts. An important estimate for Apple is its reserve for warranty claims, and the company must provide shareholders information on this estimates. Use Apple's financial statements in Appendix A. Required: 1. Access Apple's 2017 10-K report, filed with the SEC on November 3, 2017, and find Note 10 Commitments and Contingencies. What amount of warranty expense did Apple record for 2017? 2. What amount of warranty claims did Apple pay during 2017? 3. What is Apple's accrued warranty liability at the end of 2017? Required 1 Required 2 Required 3 Access Apple's 2017 10-K report, filed with the SEC on November 3, 2017, and find Note 10- Commitments and Contingencies. What amount of warranty expense did Apple record for 2017? (Enter answers in millions of dollars.) Warranty expense million Required 1 Required 2 Required 3 What amount of warranty claims did Apple pay during 2017? (Enter answers in millions of dollars.) Warranty payments million Required 1 Required 2 Required 3 What is Apple's accrued warranty liability at the end of 2017? (Enter answers in millions of dollars.) Warranty liability million
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