標題:
HKAS 37 Provisions question 會計
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發問:
I want to ask if the entry is : Dr warranty expense Cr provision for warranty expense If finally, the company need to pay the warranty fee, the entry should be: Dr provision for warranty expense Cr cash ?????
最佳解答:
HKAS 37 Provisions question Let us to make a case to know the Product Warranty Liability. The ABC Company sold merchandise for $1,000,000 cash during the current period. Experience has indicated the warranty and guarantee costs will approximate 0.3% of sales. The indicated entries are Step 1. In year of sale: As sales take place:Cash………………………$1,000,000 Sales………………………………..$1,00,000 As year-end Warranty expense…………$3,000 Warranty liability………………$3,000Step 2.Subsequently, actual warranty expenditures of $2,750 were made during the warranty period: Warranty liability………………..$2,750 Cash (and other resources used)……..$2,750Insteal, if the actual expenditure was $4,700, the entry would be: Warranty liability………………..$3,000 Warranty expenses………………$1,700 Cash (and other resources used)…………$4,700
其他解答:
The entry is: Dr. Warranty Expenses Cr. Accrued Expenses If finally, the company need to pay the warranty fee, The Entery is: Dr, Accrued Expenses Cr. Bank/Cash
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