Question
Training Services, Inc. (TSI) guarantees the quality of its instructional services.TSI earned $40,000 of cash revenue from instructional services in 2017.The company estimates that future
Training Services, Inc. (TSI) guarantees the quality of its instructional services.TSI earned $40,000 of cash revenue from instructional services in 2017.The company estimates that future warranty claims will be 6 percent of revenue.During 2017, TSI paid $700 cash on warranty claims.Based on this information, the amount of net income and the net change in cash for 2017 would be
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
4th Canadian edition
978-1259269868, 978-1259103292
