Accrued Product Warranty Parker Manufacturing Co. warrants its products for one year. The estimated product warranty...

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Accrued Product Warranty Parker Manufacturing Co. warrants its products for one year. The estimated product warranty is 4% of

Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years: Current Year Previous Year C

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Answer 1

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solution 12600 Product Warranty expense product warranty payable [ 315000 X 497] 12600 355 Product warranty payable 225 suppl Quick ratto (previous year) = (1316000 - 280000) (740000 = 1.4 : 1 b) How did the quick ratio change between the two dates ?

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