ACCT 551 Week 3 Homework P14-5, P14-6, P14-7 For more course tutorials visit
E13-11( Warranties) Sheryl Crow Equipment Company sold 500 Rollomatics during 2014 at $ 6,000 each. During 2014, Crow spent $ 20,000 servicing the 2-year warranties that accompany the Rollomatic. All applicable transactions are on a cash basis.
E13-12( Premium Entries) 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 8,800 premiums at 80 cents each and sold 110,000 boxes of soap powder at $ 3.30 per box; 44,000 coupons were presented for redemption in 2014. It is estimated that 60 % of the coupons will eventually be presented for redemption.
P13-9( Premium Entries and Financial Statement Presentation) Sycamore Candy Company offers an MP3 download( seven-single medley) as a premium for every five candy bar wrappers presented by customers together with $ 2.50. The candy bars are sold by the company to distributors for 30 cents each. The purchase price of each download code to the company is $ 2.25. In addition, it costs 50 cents to distribute each code. The results of the premium plan for the years 2014 and 2015 are as follows.( All purchases and sales are for cash.)-------------------------------------------------------------------------------
ACCT 551 Week 3 Homework P14-5, P14-6, P14-7 For more course tutorials visit