Home > Warranty Liability (part 2) > Warranty Liability (part 2)

Warranty Liability (part 2)

for 2010

Ganon din ang gagawin mo

Warranty expense:
200,000 * 14% = 28,000
So ang entry:

https://i2.wp.com/i438.photobucket.com/albums/qq107/joseph0487/2010we.jpg

Tapos Estimate mo yung ending balance ng Liab for 2010

https://i1.wp.com/i438.photobucket.com/albums/qq107/joseph0487/2010box.jpg

For 2009 Sales:
100,000 * 5% * ½ = 2500
100,000 * 6% = 6000

For 2010 Sales:
200,000 * 3% * ½ = 3000
200,000 * 5% = 10,000
200,000 * 6% = 12,000
So ang ending balance ay
2500 + 6000 + 3000 + 10000 + 12000 = P33,500

https://i0.wp.com/i438.photobucket.com/albums/qq107/joseph0487/2010ta.jpg

So, may P 7,000 kang derecognition ng Liability.

Equal din to sa:
100,000 * 3% * ½ = 1500
100,000 * 5% * ½ = 2500
200,000 * 3% * ½ = 3000

Entry:

https://i2.wp.com/i438.photobucket.com/albums/qq107/joseph0487/2010aje.jpg

for 2011

Sa 2011, ganon din ang gagawin, paulit-ulit lang…
Warranty Expense:
150,000 * 14% = 21,000

https://i2.wp.com/i438.photobucket.com/albums/qq107/joseph0487/2011we.jpg

Tapos Compute End Balance ng Liability:

https://i0.wp.com/i438.photobucket.com/albums/qq107/joseph0487/2011box.jpg

For 2009 sales
100,000 * 6% * ½ = 3000

For 2010 Sales:
200,000 * 5% * ½ = 5000
200,000 * 6% = 12,000

For 2011 Sales
150,000 * 3% * ½ = 2250
150,000 * 5% = 7500
150,000 * 6% = 9000

So, End balance is: 3000 + 5000 + 12000 + 2250 + 7500 + 9000 = 38,750

Tapos compute ang adjustment:

https://i0.wp.com/i438.photobucket.com/albums/qq107/joseph0487/2011ta.jpg

Then Entry:

https://i1.wp.com/i438.photobucket.com/albums/qq107/joseph0487/2011aje.jpg

So, yun, paulit-ulit lang hanggang maubos ung warranty liab.
Kung may malabo, tanong lang po! Tapos ung susunod na case (may record ng actual outlay ng cash, discuss ko mmaya)

pag may hindi naintindihan dito sa post ko, wag mahihiyang magpost ng tanong Smile

Oki! Sana naintindihan ang lesson!

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