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 CLASSES VISIT
www.acct551rank
P14-5 (Comprehensive Bond Problem) In each of the following
independent cases the company closes its books on December 31.