Business, 25.11.2021 08:20 brandontru

A company switched from the cash basis to the accrual basis for recognizing warranty expense. The unrecorded liability for warranties was $2 million at the beginning of the year. Its tax rate is 25%. The company booked a year-end warranty liability of $3 million. As a result of this change, the firm would:

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A company switched from the cash basis to the accrual basis for recognizing warranty expense. The un...

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