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Please fill in the missing data. Accrued Product Warranty Ford Motor Company (F) disclosed the following estimated Product warranty payable for two recent years. December
Please fill in the missing data.
Accrued Product Warranty Ford Motor Company (F) disclosed the following estimated Product warranty payable for two recent years. December 31, Year 2 Year 1 (in millions) Product warranty payable $5,296 $4,960 Ford's sales in its automotive sector were $145,653 million in Year 2 and $141,546 million in Year 1. Assume that the total paid on warranty claims during Year 2 was $3,620 million. a. Illustrate the effects on the accounts and financial statements for the Year 2 product warranty expense. If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts. Enter amounts in millions. Balance Sheet Assets No effect V Lia bilities Product warranty payable Dec. 31. Statement of Cash Flows No effect V x Stockholders' Equity Retained earninqs V' Income Statement
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