# Calculation for Warranty Obligation Journal Entries in Luke's Car Crop (LCC)

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2FINNACIAL ANALYSISIntroduction Financial analysis is a vital procedure that leads in knowing fund required to complete finance-related entities. In a specific business organisation financial transaction are required to berecorded in an effective manner that results in increasing organisational position in market. Onthe other hand, most effective process for analysing financial data is to evaluate its financialtransactions effectively. In this study it has been analysed that different situational case studywas provided on financial basis that leads in knowing current position of the organisation in themarket. On the other hand, implementation of SAP accounting system is also assessed in thesystem. However financial analysis can be conducted through investment and corporate financesettings. Question 1: Calculation for Journal entry in Jassal Music Inc in 31 December 20X4ParticularsAmount (Dr.)Amount (Cr.)Prepaid Expenses A/c ..............................Dr. \$ 25,500.00 To Insurance A/c \$ 25,500.00(Being business insurance paid was recorded as prepaid expenses, now rectified)Prepaid Rent Income A/c ..............................Dr. \$ 80,000.00 To Rental Income A/c \$ 80,000.00(Being company rented instrument to school with appropriate contract from (September to June). Advance was paid that was recorded as only rental income, now rectified)Cash A/c ................................................Dr. \$ 6,300.00 To Instalment from Ryan A/c \$ 6,000.00 To Interest received A/c \$ 300.00(Being goods sold in instalment whose first instalment wasdue, now paid with the addition instalment as per the market rate)Computer System A/c ................................Dr. \$ 1,800.00 To Sales A/c \$ 1,650.00 To Profit and loss A/c \$ 150.00(Being violin was sold by Jassal and in exchange computer
3FINNACIAL ANALYSISsystem was obtained)Total \$ 113,600.00 \$ 113,600.00Table 1: Calculation for Journal entry in Jassal Music Inc in 31 December 20X4(Source: Created by author)Question 2: Calculation for inventory schedule in Allegro Music Inventory itemsNumber of units-year endCost Per unitTotal cost NRV per unitTotal NRVLCNRVChime Set3 \$ 750.00 \$ 2,250.00 \$ 790.00 \$ 2,370.00 \$ 2,250.00 Cymbals4 \$ 70.00 \$ 280.00 \$ 85.00 \$ 340.00 \$ 280.00 Drum sets3 \$ 450.00 \$ 1,350.00 \$ 525.00 \$ 1,575.00 \$ 1,350.00 Flutes5 \$ 650.00 \$ 3,250.00 \$ 775.00 \$ 3,875.00 \$ 3,250.00 Violins3 \$ 1,500.00 \$ 4,500.00 \$ 1,650.00 \$ 4,950.00 \$ 4,500.00 Guitars7 \$ 62.00 \$ 434.00 \$ 45.00 \$ 315.00 \$ 315.00 Guitars - acoustic 9 \$ 125.00 \$ 1,125.00 \$ 132.00 \$ 1,188.00 \$ 1,125.00 Guitars - electric12 \$ 190.00 \$ 2,280.00 \$ 225.00 \$ 2,700.00 \$ 2,280.00 Keyboard4 \$ 2,200.00 \$ 8,800.00 \$ 2,100.00 \$ 8,400.00 \$ 8,400.00 Piano - entry3 \$ 2,300.00 \$ 6,900.00 \$ 2,500.00 \$ 7,500.00 \$ 6,900.00 Piano - introductory5 \$ 4,500.00 \$ 22,500.00 \$ 4,900.00 \$ 24,500.00 \$ 22,500.00 Piano - intermediate2 \$ 12,000.00 \$ 24,000.00 \$ 14,200.00 \$ 28,400.00 \$ 24,000.00 Piano - 1 \$ \$ \$ \$ \$

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