Assignment Detail


What would be the provision charged in the second quarter

    Assignment Instructions

    Assignment ID: FG133134608

    Question – Domondon Enterprise prepares quarterly interim financial reports in accordance with PAS 34. Domondon sells electrical goods, and normally 8% of customers claim on their warranty. The provision in the first quarter was calculated as 8% of sales to date, which was P12,000,000. However, in the second quarter, a design fault was found and warranty claims were expected to be 15% for the whole of the year. Sales in the second quarter were P18,000,000. What would be the provision charged in the second quarter’s interim financial statements?

    Need fresh solution to this Assignment without plagiarism?? Get Quote Now

    Expert Answer

    Asked by: Anonymous
    Plagiarism Checked
    Answer Rating:

    Plagiarism free Answer files are strictly restricted for download to the student who originally posted this question.

    Related Assignments

    Our customer support team is here to answer your questions. You can send Assignments directly to support team.
    👋 Hi, how can I help?