Strassberg Co . purchases a truck from Forward Auto for $ 6 5 , 0 0 0
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Question:
Strassberg Co purchases a truck from Forward Auto for $ on
January Forward estimated the assurancetype warranty costs on the
truck to be $Forward will pay for repairs for the first miles or two
years, whichever comes first Strassberg Co also purchases a $ servicetype warranty for an additional miles or two years. Forward incurs warranty
costs related to the assurancetype warranty of $ in and $ in
Forward records revenue on the servicetype warranty on a straightline basis.
What is the amount of warranty liability and unearned warranty revenue that
should be shown on the balance sheet of Forward at December
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: