Summary of Accounting Policies (Tables)

3 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Schedule of changes in Consolidated Balance Sheet and Cash Flow Statement for Adoption of New Acccounting Standards

The following table shows the financial line items that were affected by the adoption of ASC 606:

The Singing Machine Company, Inc. and Subsidiaries

	As reported at		ASC 606			Under ASC 606
	March 31, 2018		Adjustment			April 1, 2018
CONSOLIDATED BALANCE SHEET - MARCH 31, 2018
Assets
Current Assets
Inventories, net	$	8,057,774	$	479,160		$	8,536,934
Liabilities
Current Liabilities
Reserve for sales returns	$	-	$	726,000		$	726,000
Warranty provisions	$	246,840	$	(246,840	)	$	-

	As reported at			ASC 606			Under ASC 606
	June 30, 2017			Adjustment			June 30, 2017
CONSOLIDATED STATEMENT OF CASH FLOWS - JUNE 30, 2017
Cash flows from operating activities:
Inventories	$	(2,860,530	)	$	209,080		$	(2,651,450	)
Reserve for sales returns	$	-		$	(338,791	)	$	(338,791	)
Warranty provisions	$	(129,711	)	$	129,711		$	-