Interpreting Warranty Liability Disclosures The following disclosures were provided by Siemens AG in its 2014 annual report: Product-related expenses product warranty provisions. Note 23 Provisions The Provision that Siemens reports is an estimated warranty liability. What would constitute additions to the provision? Prepare a journal entry to record this addition. Siemens reported sales revenue of 72,480 million in 2014 and 74,005 in 2013 . Calculate the ratio of warranty expense to sales for each year. Round to one decimal place (i.e., 5.6\%). 2014 j 2013 6
Other questions asked by students
Psychology
1.2K views
Describe the three main goals city planners must consider to support a sustainable city. Do you...
Calculus
1.2K views
Determine the correct graph for the following equation x 1 12 y 3
Accounting
1.2K views
Accounting
1.2K views
Accounting
1.2K views
On June 10, Carla Vista Company purchased $8,000 of merchandise on account from Flint Company,...
Accounting
1.2K views
Accounting
1.2K views
Accounting
1.2K views
Alfie Ltd. is a gourmet cake shop in a local suburb that makes and sells...
Accounting
1.2K views
On July 8, Jones Inc. issued an $82,100, 9%, 120-day note payable to Miller Company....