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How much is the liability as of yearend

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For the year 2020, Shake Company had P6,000,000 worth of sales. It offers a customer loyalty program where in every P100 spent is paid back with one point. Each point can be redeemed for a one-peso discount which is its stand-alone selling price. All of the points awarded in 2020 will expire by yearend 2023. Points redeemed were as follows: 11,500 during 2020, 10,000 during 2021, 14,500 during 2022 and 12,000 for 2023. Estimates as to total redemption were 60% during 2020 and 70% during 2021 and 2022.

Question 1. How much is the total revenue during 2020?

Question 2. How much is the total revenue during 2021?

Question 3. How much is the total revenue during 2022?

Question 4. How much is the total revenue during 2023?

Question 5. How much is the liability as of yearend 2020?

Question 6. How much is the liability as of yearend 2021?

Question 7. How much is the liability as of yearend 2022?

Reference no: EM132545428

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