Question
Red Company had a warranty liability of P350,000 at the beginning of current year and P310,000 at end of current year. Warranty expense is based
Red Company had a warranty liability of P350,000 at the beginning of current year and P310,000 at end of current year. Warranty expense is based on 4% of sales which amounted to P50,000,000 for the year. What amount of warranty expenditures was incurred for the current year?
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Taxation Of Individuals And Business Entities 2015
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
6th Edition
978-1259206955, 1259206955, 77862368, 978-0077862367
