Asus 2009 Annual Report Download - page 169

165
ASUSTeK COMPUTER INC. AND SUBSIDIARIES
Notes to Financial Statements
(Continued)
(4) Notes and accounts receivable
A. The Group’ s notes and accounts receivable were as follows:
2009/12/31 2008/12/31
Notes receivable $ 2,470,319 1,066,216
Accounts receivable 86,018,994 89,913,997
88,489,313 90,980,213
Less: allowance for doubtful accounts (1,003,535) (1,086,215)
$ 87,485,778 89,893,998
B. As of December 31, 2009 and 2008, KINSUS had sold accounts receivable as follows:
Write-off of
accounts receivable
Receipt in advance
Limits for
sales of
accounts
Purchaser 2009/12/31 2008/12/31 2009/12/31 2008/12/31 Collateral receivable
Mega International
Commercial Bank $ 313,090 233,717 192,404 - None Note
Note: As of December 31, 2009 and 2008, the limits for sales of accounts receivable were USD
30,000,000.
(5) Inventories
2009/12/31 2008/12/31
Finished goods $ 22,710,126 21,724,425
Merchandise inventory 30,464,515 40,899,482
Work in process 4,391,802 5,515,001
Raw materials 30,787,455 31,116,894
Inventories in transit 6,043,186 5,538,744
Less: allowance for inventory valuation loss and
obsolescence (6,659,892) (7,337,476)
$ 87,737,192 97,457,070
Inventories recognized as expenses and losses amounted to $15,745 and $5,297,963, of which
$(398,806) and $5,016,356 were a addition to (deduction from) the cost of sales due to a write-
down (reversal) of inventory cost to its net realizable value, for the years ended December 31,
2009 and 2008, respectively.