Weiss lenscorp, a maker of camera lenses, provides a 3-year warranty against defects on all of its products. in fulfilling its warranty obligation, the company expects to incur costs equal to 1% of sales in the first year of the warranty period, 2% of sales in the second year, and 3% of sales in the third year. these estimates are based on the company’s past experience and are considered to be reliable. weiss’s 12/31/08 balance sheet reported "estimated liability for product warranties" of $3,370,000. for the year ending 12/31/09, weiss’s sales totaled $32,000,000. actual warranty expenditures made during 2009 totaled $1,780,000. what amount should weiss report as "warranty expense" in its 2009 income statement, and what "estimated liability for product warranties" should it report on its 12/31/09 balance sheet?

warranty liablity account ending balance:  3,510,000

Explanation:

In total, we expect a warranty expense for 6% for each sale distributed among three years.

For the 32,000,000 million sales for 2019 we expect:

32,000,000 x 6% = 1,920,000 warranty expense.

                                   warranty liaiblity

                                   debit       credit

beginning                                3,370,000

expenditures          1,780,000

warranty expense                   1,920,000

balance                                    3,510,000

a. At a time i was a site Engineer for a project

b. yes it created new perspective, deeper relationships and change

Explanation:

It was when i was a site Engineer for a company.

The company oi worked with actually was into fire protection in the country. We had scheduled a meeting with an Aircraft operator to discuss the bottleneck we are facing in not completing the fire protection for the aircraft hanger in due course.

I sat with my team to discuss with the management that the materials needed to bring the project to completion shall be sourced from a foreign country and that it will take some time. The company told us that they wont be willing to expose their facility to fire risk because we are actually running out of time.

We then concluded that i will be resident on site with a technician to fix the snags in the facility whilst we await the arrival of the materials needed to commission the project to the client. The Other party agreed and then we kickstarted   the operation..

B.yes it created new perspective, deeper relationships and change