What would go on the balance sheet and income statement for warranties?
What would go on the balance sheet and income statement for warranties?
Homework Answers
Solution:
Warranty expense recognized during the year would go to income statement. Further warranty provision for which actual expenditure is yet to be incurred would go on the balance sheet.
Therefore
Warranty expense - Income statement
Warranty payable - Balance sheet.
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What would go on the balance sheet and income statement for
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