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Financial Analysis of Liabilities and Expenses

The document discusses the financial obligations and liabilities of a company. It includes short term and long term loans, current and non-current liabilities, income tax calculations, bonus expenses, revenue from deliveries and returns, liability for returnable containers, warranty expenses and estimates, premium coupon expenses and estimates, and beginning and ending inventory values.

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Adyagila Ecarg Neleh
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11 views2 pages

Financial Analysis of Liabilities and Expenses

The document discusses the financial obligations and liabilities of a company. It includes short term and long term loans, current and non-current liabilities, income tax calculations, bonus expenses, revenue from deliveries and returns, liability for returnable containers, warranty expenses and estimates, premium coupon expenses and estimates, and beginning and ending inventory values.

Uploaded by

Adyagila Ecarg Neleh
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Faith Kryzl Pahilagao BSA-2

1. Short term obligation - Mar. 1 150,000


Feb. 5 3,600,000

Loan (per year) 1,000,000

Debt obligation 1,000,000

Current Liabilities 5,750,000

2. Long term loan – Dec. 1 ,2019 2,500,000


Debt Obligation (4,000,000-1,000,000) 3,000,000
Non-current Liabilities 5,500,000

3. B= 10% (4,650,00-B-T)
T= 30%(4,650,000-B)
B= 10%[(4,650,000-B-30)- (4,650,000-B)]
B= 10%(4,650,000-B-1,395,000+30%B)
B= 465,000-10%B-139,500+3%B
B+10%-3%B = 465,00-139,500
B=1.07B=325,500
B=325,000 ÷ 1.07B
B= ₱304,205.61

4. Income Tax for the year = (4,650,000-304,205.61)30%


=₱1,303,738.20

5. Bonus Expense 304,205.61


Bonus Payable 304,205.61

6. 2017 (Deliveries) 85,000


2107 (Returned from deliveries) (57,500)
Revenue Recognized for 2019 27,500

7. Deliveries held by customer:


2018 240,000
2019 430,000 670,000

Companies Returned

2018 140,000

2019 157,000 (297,000)

Liability for returnable containers 373,000


Faith Kryzl Pahilagao BSA-2

8. Current Liability (₱810 x 270 x 1/3) = ₱72,900

9. 18,000+36,000 = 54,000

10. Non-current Liability ( ₱810 x 270 x 2/3) = 145,800

11. Sales from musical instruments 54,000 000

Estimated warranty cost x 2%


Warranty expense 1 080 000

12. Estimated Warranty Expense 1 080 000


Estimated Liability from warranties 1 360 000
Actual Warranty expense (1 640 000)
Estimated warranty Liabilities 800 000

13. Premium Expense (CD player) = 340-200=140


Prem. Coupons expense = 1 200 000 – 1 080 000 = 120 000
Units in expense = 120 000 ÷ 200 = 600
Premium Expense = 6 000 – 600 x 140=756 000

14. Beg. Inv. 1 175


Purchases 6 500
Redemption (6 000)
Inventory 1 675
x 340
Inventory of premium CD players 569,500

15. Estimated premium claims outstanding – Jan. 1 , 2014 448 000


Add: Premium Expense 756 000
Less: Actual Redemption (1 200 0000 ÷200=6 000 x 140) 840 000
364 000

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