premiums at 70 cents each and sold 122,500 boxes of soap powder at $ 3.40 per box; 50,000 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
Make all the journal entries necessary to record the transactions above using appropriate dates.( 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.) Date Account Titles and Explanation Debit Credit
7) Edwardson Corporation’ s year-end is December 31. Assuming that no adjusting entries relative to the transactions above have been recorded, prepare any adjusting journal entries concerning interest that are necessary to present fair financial statements at December 31. Assume straight-line amortization of discounts.( 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. Record journal entries in the order presented in the problem.)
8) The presentation of current and non-current liabilities in the statement of financial position( balance sheet):
9) In accounting for short-term debt expected to be refinanced to long-term debt:
10) Under IFRS, a provision is the same as: