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Questions -
Q1. WARRIORS Company sold 3,000,000 boxes of strawberry-cheese pie mix under a new sales promotional program. Each box contains one coupon, in which 10 coupons, submitted with P4 entitles the customer to a baking pan. WARRIORS Company pays P12 per pan and P1.50 for handling and shipping. WARRIORS Company estimates that 80% of the coupons will be redeemed, even though only 1,350,000 coupons had been processed during 2021. What the liability for Unredeemed Coupons in its December 31, 2021?
Q2. TRAILBLAZERS Company sells goods with a warranty under which customers are covered for the cost of repairs of any manufacturing defects within 12 months after purchase. If minor defects were detected in all products sold, repair cost is around P300,000 and if major defects are detected on all products sold repair cost is around P1,500,000. TRAILBLAZERS Company's past experience and future expectations indicate that 70% will have no defects; while 25% will have minor defects and 5% will have major defects. What the expected value of the loss?
What is the amount of Depletion Expense recorded in the adjusting entry for 2013
Amortization is recorded when interest is received by the straight-line method
What factors should be considered in making an estimate of the loss accrual? What information should management disclose in the footnotes to the financial statements concerning this purchase commitment?
Assume that Security A is a debt security that was purchased at a discount. What is the carrying amount of Security A at December 31, 2015
Olgas proprietorship earned a net profit of $95,000 during the year and she withdrew $70,000 of this profit. Olga must report $70,000 net income from the proprietorship on her individual income tax return.
On January 1, 2009, when its $30 par value common stock was selling for $80 per share, a corporation issued $10 million of 10% convertible debentures due in 10 years.
In addition, the value of shares increased by 10% and households received $1500 worth of food voucher. Determine the household balance sheet
Headland Inc. issues $2,600,000 of 7% bonds due in 10 years with interest payable at year-end. What amount will Headland receive when it issues the bonds
how can a manager use information about how the firm spends money on quality initiatives to assess whether those
Cite the role played by Horizontal Analysis, Vertical Analysis and Financial Ratios in the decision-making process of a company. What are the ratios used.
What is the age of the machine on December 31, 2020? Identify the type of expenditure for the transaction on February 1 and March 31, 2021
Evaluate what, if any, options with regard to financial activities should Red Soda and Blue Soda consider
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