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Regal Company sells gift certificates, redeemable for store merchandise. The gift certificates have no expiration date. Entity has the following information pertaining to the gift certificate sales and redemptions:
Unearned revenue on January 1, 2020 750,000
2020 sales 2,500,000
2020 redemptions of prior year sales 250,000
2020 redemptions of current year sales 1,750,000
Problem 1: What amount should be reported as unearned revenue on December 31, 2020?
a. 1,250,000
b. 1,125,000
c. 1,000,000
d. 500,000
Lions Inc. acquired five identical vehicles, Calculate the depreciation expense by each of the Double-declining-balance for 2019 and 2020.
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The investor buys the underlying stock that currently sells for $265. Find a range of stock prices in year two that result in a positive profit to the investor.
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