Question
Panther Co. had a quality-assurance warranty liability of $342,000 at the beginning of 2018 and $319,000 at the end of 2018. Warranty expense is based
Panther Co. had a quality-assurance warranty liability of $342,000 at the beginning of 2018 and $319,000 at the end of 2018. Warranty expense is based on 3% of sales, which were $56 million for the year. What were the warranty expenditures for 2018?
Multiple Choice
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$0.
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$1,703,000.
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$1,680,000.
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$1,657,000.
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Tax Audit Techniques In Cash Based Economies A Practical Guide
Authors: Sheikh Sajjad Hassan
2nd Edition
0955354048, 978-0955354045
