What is the TOTAL revenue recorded by Matcha Tea House

Assignment Help Accounting Basics
Reference no: EM132921768

Question - Matcha Tea House opened for business on January 1, 2021. Matcha Tea House provides a customer reward program through use of a plastic key tag. If the customer buys 5 teas, their 6th tea is free. Customers pay $4 for a cup of tea. Matcha Tea House reports under IFRS and tea sales are material. In January, 4,500 cups of tea were sold for cash. An additional 180 free cups of tea were also served that were redeemed so far under the program. Based on industry data, 66 2/3% of all customers will ultimately redeem a free tea under Matcha Tea House's reward program.

a) What is the TOTAL revenue recorded by Matcha Tea House for January 2021?

b) What is the liability recorded relating to this program at January 31, 2021?

Reference no: EM132921768

Questions Cloud

What are the functions of wto : Please clearly indicate which question you are answering by writing the number of the question
Characteristics of high-tech crime : Explain to the university (in a whitepaper) the characteristics of high-tech crime also known as Internet, cyber, and computer crime.
What is time-management style : What is your time-management style? Think of your audience as a fellow students who is interested to learn about time-management.
What are the various types of consent : What are the various types of consent? Describe the importance of each. Do you have any experience with these you would like
What is the TOTAL revenue recorded by Matcha Tea House : Matcha Tea House opened for business on January 1, 2021. What is the TOTAL revenue recorded by Matcha Tea House for January 2021
Describe time management concerns in college : Discuss different time management styles in Your Use of Time, from both the positive and negative perspectives. Which style are you?
Construct a simple Balance Sheet for XYZ Bank : Construct a simple Balance Sheet for XYZ Bank with the given values. Cash- 550, Deposits- 1,440, Securities- 660, Borrowings - 770
Describe typical ratios of in-class to out-of-class work : Describe typical ratios of in-class to out-of-class work per credit hour and how to effectively schedule your study time. Provide an example.
Investigate criminal prevention-treatment : Investigate a criminal prevention, treatment, or punishment program or a current crime policy.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

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