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No Doubt Company includes 1 coupon in each box of soap powder that it packs, and 10 coupons are redeemable for a premium (a kitchen utensil). In 2014, No Doubt Company purchased 8,880 premiums at 80 cents each and sold 143,700 boxes of soap powder at $3.80 per box; 51,900 coupons were presented for redemption in 2014. It is estimated that 60% of the coupons will eventually be presented for redemption. Prepare all the entries that would be made relative to sales of soap powder and to the premium plan in 2014. (Round answers to 0 decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To record the premium inventory) (To record the sales) (To record the expense associated with the sale) (To record the premium liability)
nbspthe following events occurred during the first month of operations for xyz ltd. a company specialised in providing
Mark Hobson, a CGA and CIA, is an internal auditor employed by Comstock Industries. He is just completing an audit of the Avil Division conducted during the first five weeks of the year. Discuss how the ethical dilemma Mark faces might have been avoi..
in 2010 harrier corporation a calendar year c corporation has a 100000 gain from sale of real estate. the real estate
Explain why is direct labor a poor base for allocating overhead in many companies? In what situation would it be a strong and better way to allocate overhead? What bases do you feel are the most commonly used by most large companies? Explain.
it was the accounting rule that caused the financial institutions' balance sheets to look bad. Describe whether you believe that following an accounting process can cause a company to experience economic problems.
multiple choice questions related to investors and expenses.1.nbspdebt securities sold to investors that must be repaid
the following information is available to assist you in preparing the bank reconciliation for frank industries for
Journal entries for recording transactions of disposition and purchase of asset - Prepare the journal entries to record the transactions April1 and August 1, 2007.
Evaluate the weighted-average number of shares to be used in computing earnings per share for 2013 and amortization was recorded when interest was received by straight-line method
Shin Company has a loan agreement that provides it with cash today, and the company must pay $25,000 4 years from today. Shin agrees to a 6% interest rate. The present value factor for 4 periods, 6% is 0.7921. What is the amount of cash that Shin..
Southeast Healthcare, Inc..(SHI) is a holding company that operates, on a for-profit basis, several hospitals and clinics throughout the southern United States. SHI has been very successful in all of its healthcare ventures. As a result, SHI expanded..
Prepare the unadjusted trial balance on the worksheet and complete the worksheet for the year ended December 31, 2012, using the adjustment data
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