Combine Number Warranty For Free

Accrue the warranty expense with a debit to the warranty expense account and a credit to the warranty liability account. As actual warranty claims are received, debit the warranty liability account and credit the inventory account for the cost of the replacement parts and products sent to customers.

In accounting jargon, the assurance-type warranty is an example of a contingent that is both probable and can be estimated. Therefore, a company must record in the period of the sale the estimated cost of repairing or replacing the product during the warranty period.

Using the ampersand Click the first cell containing data to be combined. Type &" "& in the new cell after the cell identifier (i.e., A2, B2, C2, etc.). Make sure you have a space between the two quotation marks, to allow for a space between the data being combined. Click the second cell containing data to be combined.

Combine data with the Ampersand symbol (&) Select the cell where you want to put the combined data. Type = and select the first cell you want to combine. Type & and use quotation marks with a space enclosed. Select the next cell you want to combine and press enter. An example formula might be =A2&" "&B2.

Here is a formula that can quickly combine cells to a date. Select a cell that you will place the date, type this formula =DATE(A2,B2,C2) ,A2, B2 and C2 are the cells you need to combine, press Enter key, and drag fill handle down to the cells which need to combine to dates.

Use the following steps as a guide to account for warranty expenses: Find the total number of products sold.Determine the percentage of defective products.Calculate the number of products needing replacement.Evaluate the cost of product replacement.Estimate the total warranty expense.

The warranty expense occurs because the sale took place. The expense is a cost of the sale and therefore should be matched with the revenue generated by that sale.