Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. bespoke, inc. offers warranties on all their bikes

Bespoke, Inc. offers warranties on all their bikes. They estimate warranty expense at 44% of...

70.2K

Verified Solution

Question

Accounting

Bespoke, Inc. offers warranties on all their bikes. They estimate warranty expense at

44%

of sales. At the beginning of 2017, the Estimated Warranty Payable account had a credit balance of

$2,000.

During the year, Bespoke had

$296,000

in sales and had to pay out

$5,700

in warranty payments. At the end of the year, what is the closing balance in the Estimated Warranty Payable accounts?

A.

$11,840

B.

$8,140

C.

$9,840

D.

$7,700

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

Write equations for the half-reactions that occur at the anode and cathode for the electrolysis of...

Mechanical Engineering
1.2K views

Why is it important to define specific mission scenarios (or operational profiles) within the context of...

Advance Math
1.2K views

Given the surface x= (3 (y-1)^2)+ (2 (z+ 3)^2)+ 7. Find an equation of the tangent...

Advance Math
1.2K views

Solve the differential equation y''(x)-2xy'(x)+2ny(x)=0 using the Hermite Polynomials

Physics
1.2K views

A vertical solid steel post 27 cm in diameter and 2 8 m long is...

Basic Math
1.2K views

For eac of functions f and g below, find f(g(x)) and g(f(x)).Then, determine whether fand...

Basic Math
1.2K views

Determine whether each triangle is congruent to A by ASA AAS or not congruent Triangle...

Algebra
1.2K views

MY NOTES couple bought some stock for 20 per share that pays an annual dividend...

Algebra
1.2K views

3 What is the value of twice x increased by three times y if x...

Accounting
1.2K views

please use your own words and phrases what are the importance of audit planning ?

Accounting
1.2K views

Below are the account balances for Human Corporation at the end of December. Accounts Cash...

Accounting
1.2K views

Andretti Company has a single product called a Dak. The company normally produces and sells...