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lovethepirk
Major Contributor

Joined: 10 Jul 2009
Online Status: Offline
Posts: 295

Posted: 22 Nov 2009 at 22:49 \| IP Logged

So i took the aicpa 50 question test and got 36/50 72% without
studying nonprofit/gov't or derivatives yet. I was kinda happy with that.

But i missed a warranty question hahaha

i came up with a basic question i couldnt answer...

So you sell electronics with warranties:

warrant ex
   Warranty liability

someone needs repairs:
warranty liability
     Cash

now!!!! The remaining warranties expire!!! I can only guess:
warranty liability
    Warranty expense

correct?

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