Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
For the year 2020, Zellie Company started a promotional program wherein for every P100 purchase made by a customer, one point will be awarded to that customer. For every 50 points earned by a customer and a pre-determined additional peso amount, a premium tumbler can be redeemed. Each tumbler usually sells at P100. Sales made during the year totaled P2,100,000. Out of the 300 tumblers purchased during the year, 148 tumblers remain unredeemed as of yearend resulting to the Premium Inventory having a carrying amount of P10,360. Since the accountant was not yet familiar with the revenue approach of accounting for premiums, he reported for the 2020 Premium Expense of P12,600 and Estimated Premium Liability of P5,000 as of yearend.
Problem 1: Using the revenue approach under PFRS 15, how much is the amount to be credited to sales of the main products?
Problem 2: Using the revenue approach under PFRS 15, how much is the gross profit to be recognized from the actual redemption of tumblers during the year?
Problem 3: Using the revenue approach under PFRS 15, how much is the amount to be reported as liability as of yearend?
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd