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Problem - Jao Company operates a customer loyalty program. The entity grants loyalty points for goods purchased. The loyalty points can be used by the customers in exchange for the goods of the entity. The points have no expiry date.
In 2020, the entity used 100,000 award credits and expects that 93.75% of these award credits shall be redeemed. The total stand-alone selling price of the award credits granted is reliably measured at 1,800,000. In 2020, the entity sold goods to customers for a total consideration of 13,200,000 based on stand-alone selling price. The awards credits redeemed and total award credits expected to be redeemed each year are as follows:
Redeemed Expected to be redeemed 2020 45,000 93.75%
How much are the unearned revenue points for 2020? Show computations and explain.
Olga's cost of bond was $10,000. The value of the stock had increased to $12,000 by the end of the year. What is Olga's gross income
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Question - Need help with preparing the assets section of Reggit Company's December 31 classified balance sheet
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What other analysis may the auditor want to do with the invoice data in the file? How can the client use a program like Tableau to manage control deviations?
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