Scribd
Upload
441 views6 pages

Empleo Robles SolMan Non-Financial Liabilities

1. The document contains accounting information for multiple companies, including the selling price of main products and premiums, allocation of transaction prices, and calculations of unearned revenue and revenue recognized for unredeemed premiums. 2. For Company 10, the total selling price is calculated and the transaction price is allocated between the main product and premium. Unearned revenue is calculated for unredeemed premiums. 3. Company 11 also allocates the transaction price between a main product and premium. Provisions are made for unredeemed coupons in 2019 and 2020.

Uploaded by

Johanna Raissa Capada
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
441 views6 pages

Empleo Robles SolMan Non-Financial Liabilities

1. The document contains accounting information for multiple companies, including the selling price of main products and premiums, allocation of transaction prices, and calculations of unearned revenue and revenue recognized for unredeemed premiums. 2. For Company 10, the total selling price is calculated and the transaction price is allocated between the main product and premium. Unearned revenue is calculated for unredeemed premiums. 3. Company 11 also allocates the transaction price between a main product and premium. Provisions are made for unredeemed coupons in 2019 and 2020.

Uploaded by

Johanna Raissa Capada
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
  • Polk Company Financial Analysis: Analyzes the transaction pricing and allocation of Polk Company's main and premium products, including cost and revenue details.
  • Van Department Store Financial Data: Details the financial calculations for unearned revenue and cost of goods sold at Van Department Store, highlighting gift certificate sales and redemptions.
  • Taylor Company Revenue Calculation: Breaks down the revenue recognition process and coupon redemption calculations for Taylor Company across different fiscal years.
  • Additional Financial Calculations: Presents continued calculations possibly related to Taylor Company, focusing on premium sales and revenue allocations for 2019 and 2020.
  • Concluding Financial Data: Concludes the financial analysis with summary figures and totals for undisclosed entities or years, potentially 2020.

CAPADA, Johanna Raissa C.

10 Polk Company
a Selling price of main product (300,000 x ₱ 30) 9,000,000.00
Selling price of premium {(300,000 x 30%) / 20 x ₱ 40} 180,000.00
Total selling price 9,180,000.00

Allocation of the transaction price:


To the main product {(9000 / 9180) x ₱ 9,000,000} 8,823,529.00
To the premium {(180 / 9180) x ₱ 9,000,0000} 176,471.00

Allocated transaction price to the premium 176,471.00


Multiplt by (500/4500) 0.11
Unearned revenue for unredeemed premiums 19,608.00

b Allocated transaction price to the premium 176,471.00


Multiply by (4000 / 4500) 0.89
Additional sales recognized 156,863.00

12 Van Department Store


a Allocation of original consideration received:
Sales revenue (₱ 5,000,000 x 98%)
Liability for customer loyalty awards (₱ 5,000,000 x 2%)

Liability for customer loyalty awards


Multiply by (25,000 / 90,000)
Revenue recognized in 2019 as a result of redemption

Total accumulated revenue (25,000 + 35,000) / 95,000 x ₱ 100,000


Revenue recognized in 2019 as a result of redemption
Revenue recognized in 2020 as a result of redemption

b Liability for customer loyalty awards


Revenue recognized as a result of redemption
Liability on customer liability awards, December 31, 2019

Liability for customer loyalty awards, December 31, 2019


Revenue recognized as a result of redemption
Liability on customer liability awards, December 31, 2020

14 Buchanan Company
Journal Entry:
Particulars

Cash
Unearned revenue from gift certificates outstanding
To record gift certificates sold.

Unearned revenue from gift certificates outstanding


Sales
To record gift certificates redeemed.

Unearned revenue from gift certificates outstanding


Revenue from forfeited gift certificates
To record revenue recognized from forfeited gift certificates.

Cost of goods sold


Inventory
(₱ 2,750,000 x 75%)
11 TAYLOR COMPANY

a Selling price of main product (140,000 x ₱ 500)


Selling price of premium {(70,000 / 5) x (₱ 150 - ₱ 50)
Total selling price

Allocation of the transaction price:


To the main product {(70000 / 71400) x ₱ 70,000,000
To the premium {(1400 / 71400) x ₱ 70,000,0000}
Total

Allocated transaction price to the premium


Multiplt by (40/70)
Total of redeemed coupons

Allocated transaction price to the premium


Redeemed coupons
Provision for unredeemed coupons for 2019

4,900,000.00 b Allocated transaction price to the main product


100,000.00 Redeemed coupons
Total
100,000.00 Cash {(40,000 / 5) x ₱ 50
0.28 Revenue recognized for 2019
27,778.00
c Selling price of main product (200,000 x ₱ 500)
63,158.00 Selling price of premium {28,000 x (₱ 150 - ₱ 50)}
-27,778.00 Total selling price
35,380.00
Allocation of the transaction price:
100,000.00 To the main product {(1000 / 1028) x ₱ 100,000,000}
-27,778.00 To the premium {(28 / 1028) x ₱ 100,000,0000}
72,222.00 Total

72,222.00 Allocated transaction price to the premium


-35,380.00 Multiplt by (12/28)
36,842.00 Total of redeemed coupons

Allocated transaction price to the premium


Redeemed coupons
Debit Credit Provision for unredeemed coupons for 2020

3,000,000.00 Allocated transaction price to the main product


3,000,000.00 Redeemed coupons
Total
Cash 12,000 x ₱ 50
2,750,000.00 Total
2,750,000.00 Unredeemed coupons for 2019
Revenue recognized for 2020

150,000.00
150,000.00

2,062,500.00
2,062,500.00
product (140,000 x ₱ 500) 70,000,000.00
ium {(70,000 / 5) x (₱ 150 - ₱ 50)} 1,400,000.00
71,400,000.00

nsaction price:
{(70000 / 71400) x ₱ 70,000,000} 68,627,451.00
00 / 71400) x ₱ 70,000,0000} 1,372,549.00
70,000,000.00

n price to the premium 1,372,549.00


0.57
784,314.00

n price to the premium 1,372,549.00


-784,314.00
emed coupons for 2019 588,235.00

n price to the main product 68,627,451.00


784,314.00
69,411,765.00
400,000.00
69,811,765.00

product (200,000 x ₱ 500) 100,000,000.00


ium {28,000 x (₱ 150 - ₱ 50)} 2,800,000.00
102,800,000.00

nsaction price:
{(1000 / 1028) x ₱ 100,000,000} 97,276,265.00
/ 1028) x ₱ 100,000,0000} 2,723,735.00
100,000,000.00

n price to the premium 2,723,735.00


0.43
1,167,315.00

n price to the premium 2,723,735.00


-1,167,315.00
emed coupons for 2020 1,556,420.00

n price to the main product 97,276,265.00


1,167,315.00
98,443,580.00
600,000.00
99,043,580.00
588,235.00
99,631,815.00

You might also like