User Account

All Pages

What amount should regal report as unearned revenue

Assignment Help Financial Accounting
Reference no: EM131106625

Regal Department Store sells gift certificates, redeemable for store merchandise, that expire one year after their issuance. Regal has the following information pertaining to its gift certificates sales and redemptions:

Unredeemed at 12/31/Y1 $ 75,000 Year 2 sales 250,000 Year 2 redemptions of prior year sales 25,000 Year 2 redemptions of current year sales 175,000 Regal's experience indicates that 10% of gift certificates sold will not be redeemed. In its December 31, year 2 balance sheet, what amount should Regal report as unearned revenue?

Reference no: EM131106625

Questions Cloud

Actual cash-value coverage : How much would a homeowner receive with actual cash-value coverage and replacement cost coverage for a three-year old sofa destroyed by a fire? The sofa would cost $1,000 to replace today, whereas it cost $850 three years ago, and it has an estima..
Physical activities are stress management strategy : Having enough rest is another way of managing stress in people who are infected with HIV/AIDs. Rest entails having an ample time of sleep and thirty-minute nap during the day.
What amount of installment accounts receivable : What amount of installment accounts receivable should Dolce report in its December 31, year 2 balance sheet?
Question regarding the exchange-traded funds : Distinguish between the short sales of equity securities and those of exchange-traded funds. Discuss the implications of the following statement: "The derivative markets are actually negative-sum games."
What amount should regal report as unearned revenue : In its December 31, year 2 balance sheet, what amount should Regal report as unearned revenue?
Estimate monthly payments : You have just taken a 30-year mortgage loan for $200,000. The annual percentage rate on the loan is 8%, and payments will be made monthly. Estimate your monthly payments.
What amount of revenue should acme recognize : Payment terms were: 50% due on October 1, year 1, 25% due on first delivery, and the remaining 25% due on second delivery. What amount of revenue should Acme recognize from this sale during year 1?
Reflect on similarities and differences between asd and ptsd : For this Discussion, review this week's Learning Resources including the "Acute Stress Disorder and Posttraumatic Stress Disorder" handout. Reflect on the similarities and differences between ASD and PTSD. Then consider that you have been asked to..
Callaway''sability to pay its interest expense : What does this tell you about Callaway'sability to pay its interest expense? (Fill in the blank with the times interestearned ratio from above and select the best choice.)

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

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

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.

  Financial accounting assignment

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

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

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 frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

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

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd