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Premium Entries to stimulate the sales of its Alladin breakfast cereal, Loptien Company places 1 coupon in each box. Five coupons are redeemable for a premium consisting of a children's hand puppet. In 2011, the company purchases 40,000 puppets at $1.50 each and sells 480,000 boxes of Alladin at $3.75 a box. From its experience with other similar premium offers, the company estimates that 40% of the coupons issued will be mailed back for redemption. During 2011, 115,000 coupons are presented for redemption. Prepare the journal entries that should be recorded in 2011 relative to the premium plan.
You purchase a boat fpr $35,000 and pay $5,000 down. You also agree to pay the rest over the next 10 years in10 equal end of the year payments plus 13% compound interest on the unpaid balance. What will be the amount of each payment?
Assuming that Castro uses the periodic method for recording merchandise transactions, record the purchase, return, and payment using the gross method. Illustrate at what amount would the purchase on February 1 be recorded if the net method were use..
The income tax rate is 40%. Vermont would report the subsequent amounts related to deferred taxes on its year end 31st December, 2012 balance sheet :
What is the amount of profit on the sale and the amount of interest income that Risen should record for the year ended December 31, 2008?
Determine Current Assets, Total Assets and Net Income based on the number.
Illustrate what is the total amount of other financing sources to be recognized on the fund-based financial statements over this six-year period?
Ethical frameworks were discussed in chapter four of the text and you should be recognizable with these from Business Law. APA format.
Use the given information to complete Phillip and Claire Dunphy's 2012 federal income tax return.
Find a newspaper article or web page report of an item of accounting news, i.e. it refers to a current event, consideration, comment or decision that has been published after June 2013
after which the company will keep a constant growth rate forever. Illustrate what is the price of this stock today given a required return of 12 percent?
On that date, when the market price of Oliver was $14 per share, there were 180,000 shares of Gibbs outstanding. What NET reduction in retained earnings would result from this property dividend?
Elucidate how this strategy avoids double taxation, including examples of other shareholder-corporation transactions that could be used for such purpose. Also, discuss the possible pitfalls surrounding corporate payments to shareholders.
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