Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 411 Weeks Ago, 1 Day Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 30 Jul 2017 My Price 11.00

Volvo Group

Volvo Group reports the following information for its product warranty costs as of December 31, 2008, along with provisions and utilizations of warranty liabilities for the year ended December 31, 2008 (SEK in millions).

Product warranty costs

Estimated costs for product warranties are charged to cost of sales when the products are sold. Estimated warranty costs include contractual warranty and goodwill warranty. Warranty provisions are estimated with consideration of historical claims statistics, the warranty period, the average time-lag between faults occurring and claims to the company, and anticipated changes in quality indexes. Differences between actual warranty claims and the estimated claims generally affect the recognized expense and provisions in future periods. At December 31, 2008, warranty cost provisions amounted to 10,354.

Product warranty liabilities, December 31, 2007

SEK 9,373

Additional provisions to product warranty liabilities

6,201

Utilizations and reductions of product warranty liabilities

(5,220)

Product warranty liabilities, December 31, 2008

10,354

1. Prepare Volvo’s journal entry to record its estimated warranty liabilities (provisions) for 2008.

2. Prepare Volvo’s journal entry to record its costs (utilizations) related to its warranty program for 2008. Assume those costs involve replacements taken out of Inventory, with no cash involved.

3. How much warranty expense does Volvo report for 2008?

Answers

Maurice Tutor
(5)
Status NEW Posted 30 Jul 2017 01:07 PM My Price 11.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------acq-----------uis-----------iti-----------on -----------of -----------my -----------sol-----------uti-----------on.-----------Ple-----------ase----------- pi-----------ng -----------me -----------on -----------cha-----------t I----------- am----------- on-----------lin-----------e o-----------r i-----------nbo-----------x m-----------e a----------- me-----------ssa-----------ge -----------I w-----------ill----------- be----------- ca-----------tch-----------

Not Rated(0)