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Victory Mall grants loyalty awards to its customers. During 2020, it made sales aggregating to P5,000,000 of which P100,000 is allocated to the customer loyalty awards. During the year, 25,000 points were redeemed and at December 31, 2020 it expects that 90,000 points would be redeemed relating to 2020 sales.
Problem 1: Unearned liability for customer loyaty awards on December 31, 2020
Problem 2: Revenue to be recognized in 2021 relating to the customer loyaty awards
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After considering all the transactions how much is the amount to be used to record "Appropriation Reserved for Treasury Shares"
During the current year, United acquired two vans at a cost of $75,000 each. What are the appropriate entry/entries to record the acquisition?
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Determine the present value of lease payments for VIVI Bhd on 1 January 2018. Do a lease amortization table for the year 2018 until year 2019.
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