4. Assuming a bonus of 20% is given to the president based on net income Chapter 26- Introduction to Liabilities idsii oj nolbubini - 1i PROBLEM 26-32 Warranty, Premiums and Bonus Vou bave been provided with the following data in connection with your audit of Bosh Company for the year ended December 31, 2021, its first year of operations: Warranty expense Premium expense Net Income P 85,000 270,000 1,935,000 222 Additional information: Bosh Co. sells two products-washing machines and ovens. The washing machines carry a three-year warranty against manufacturer's defects. Based on the reliable estimate, warranty costs are estimated at P150 per machine. During 2021, Bosh Co. sold 1,200 washing machines and paid warranty costs of P85,000 which was charged to warranty expense. baramie STEbtRog lo 20to Premium is offered on the oven. Customers receive a coupon for each peso spent on the oven. Customers may exchange 400 coupons and P20 for t-shirt. Bosh pays P45 for each t-shirt and estimates that 60% of the coupons given to customers will be redeemed. Total Sales for the oven amounted to P1,200,000. A total of 6,000 t-shirts used in the premium program were purchased during the year and there were 500,000 coupons redeemed during the current year. Premium expense of P270,000 was charged by the company when it purchased the 6,000 t-shirts. amletzni lamas-imsa ni gnhusar oldaysq zbnod lehed .000,019 Questions: Based on the above data, determine the following: 1. Estimated Warranty Payable, December 31, 2021 a. P95,000 b. P180,000 omoonl inst bsmesnU c. P85,000 d. P265,000 eldsveg abgsbivih rdae 2. Estimated Premiums Payable, December 31, 2021 a. P45,000 b. P31,250 per c. P13,750 eled d. P76,250 ed i da 3. Adjusted net income during 2021 a. P2,000,000 b. P1,990,000 c. P2,065,000 d. P2,085,000 deea exbo after bonus and before tax of 30%, how much is the bonus? a. P240,917 b. P344,167 c. P253,596 d. P413,000 5. Assuming a bonus of 20% is given to the president based on net income after bonus and tax of 30%, how much is the bonus? a. P240,917 b. P344,167 c. P253,596 d. P413.000