Ayayai Company includes one coupon in each box of soap powder that it packs, and 10 coupons are redeemable for a premium (a kitchen utensil). In 2020, Ayayai Company purchased 8,600 premiums at 80 cents each and sold 106,000 boxes of soap powder at $3.20 per box; 43,300 coupons were presented for redemption in 2020. 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 2020.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Ayayai Company includes one coupon in each box of soap powder that it packs, and 10 coupons are redeemable for a premium (a kitchen ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
What are assets and lost the types of assets
Answers (2)
Multiple Choice Question 60 A department adds all raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout the process.
Answers (1)
Government purchases of goods and services are: A. exhaustive because they directly absorb or employ resources and account for production. B. neither exhaustive nor nonexhaustive because of the tax revenues that finance these purchases. C.
Answers (1)
Eric wants to start a business. he is attracted to the idea of being his own boss, and wants to get started with a minimum of expense and hassle.
Answers (1)
Which of the following is a philosophy designed to integrate all organizational areas in order to provide customers with superior products and services, while meeting organizational goals throughout the value chain? A.
Answers (1)
New Questions in Business
Borrowing money to pay for expensive items like student loans and home mortgages with the intent to pay it back in fixed monthly payments is called installment credit an unsecured loan a secured credit card compounding interest
Answers (2)
Bond Company sells inventory to its subsidiary, Esquivel Company, at a profit during 2020. If Bond uses the cost method to account for its equity investment in Esquivel, which of the following would be credited in the consolidated worksheet for 2021?
Answers (2)
Most of the time it is quite difficult to separate the three functions of money. Money performs its three functions at all times, but sometimes we can stress one in particular.
Answers (1)
The APB partnership agreement specifies that partnership net income be allocated as follows: Partner A Partner P Partner B Salary allowance 30000 10000 40000 Interest on average capital balance 10% 10% 10% Remainder 40% 40% 20% Average capital
Answers (1)
The supply curve of reserves in an economy is horizontal when: A) the federal funds rate is greater than the seasonal credit discount rate. B) the federal funds rate is less than the secondary credit discount rate.
Answers (1)