Montem - Fitness Pole Division Balance Sheet 6/30/2021 Inventory $ 500,000 Packaging $ 75,000 Brand $ Accounts Payable $ 40,000 Additional Information: WalkStix Inc. believes that the brand value of Montem's "Pro Walker - Nordic Fitness Poles" has a present value of $ 1,000,000
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- Topsy Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and a remittance of ₱20. Distribution cost is ₱5 per towel. The entityestimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2019 2020 Facial Soap sales, P45 per unit 2,400,000 php 2,785,000 php Towel purchases, P70 per unit 320,500 php 355,000 php Number of box tops returned 20,500 php 34,850 php REQUIRED: How much net cash did the entity receive (give) with regards to the premium transactions for the year 2019 and 2020?Topsy Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and a remittance of ₱20. Distribution cost is ₱5 per towel. The entityestimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2019 2020 Facial Soap sales, P45 per unit 2,400,000 php 2,785,000 php Towel purchases, P70 per unit 320,500 php 355,000 php Number of box tops returned 20,500 php 34,850 php REQUIRED: Compute for the premium liability for the year ended December 31, 2019 and 2020.Topsy Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and a remittance of ₱20. Distribution cost is ₱5 per towel. The entityestimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2019 2020 Facial Soap sales, P45 per unit 2,400,000 php 2,785,000 php Towel purchases, P70 per unit 320,500 php 355,000 php Number of box tops returned 20,500 php 34,850 php REQUIRED:Compute for the premiums expense for the year ended December 31, 2019 and 2020.
- Please show the solution in good accounting form. Thank you! Dominic Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and remittance of ₱25. The distribution cost is ₱10 per towel. The entity estimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2020 2021 Facial soap sales, ₱50 per unit ₱ 2,500,000 ₱ 2,875,000 Towel purchases, ₱90 per unit ₱ 337,500 ₱ 360,000 Number of box tops returned 22,500 38,550 Requirements: 1. Compute for the premiums (as an asset) amount for the year ended:A. December 31, 2020B. December 31, 2021 2. Compute for the premiums expense for the year ended:A. December 31, 2020B. December 31, 2021 3. Compute for the premium liability for the year ended:A. December 31, 2020B. December 31, 2021 4. How much net cash did the entity receive (give) with regards to the…Please show your solution in good accounting form. Thank you! JINN Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and remittance of ₱25. The distribution cost is ₱10 per towel. The entity estimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2020 2021 Facial soap sales, ₱50 per unit ₱ 2,500,000 ₱ 2,875,000 Towel purchases, ₱90 per unit ₱ 337,500 ₱ 360,000 Number of box tops returned 22,500 38,550 Requirements: 1. Compute for the premiums (as an asset) amount for the year ended:A. December 31, 2020B. December 31, 2021 2. Compute for the premiums expense for the year ended:A. December 31, 2020B. December 31, 2021 3. Compute for the premium liability for the year ended:A. December 31, 2020B. December 31, 2021 4. How much net cash did the entity receive (give) with regards to the…JINN Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and remittance of ₱25. The distribution cost is ₱10 per towel. The entity estimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2020 2021 Facial soap sales, ₱50 per unit ₱ 2,500,000 ₱ 2,875,000 Towel purchases, ₱90 per unit ₱ 337,500 ₱ 360,000 Number of box tops returned 22,500 38,550 Requirements: 1. Compute for the premiums (as an asset) amount for the year ended:A. December 31, 2020B. December 31, 2021 2. Compute for the premiums expense for the year ended:A. December 31, 2020B. December 31, 2021 3. Compute for the premium liability for the year ended:A. December 31, 2020B. December 31, 2021 4. How much net cash did the entity receive (give) with regards to the premium transactions for the year given below? (if net cash…
- JIN Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and remittance of ₱25. The distribution cost is ₱10 per towel. The entity estimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2020 2021 Facial soap sales, ₱50 per unit ₱ 2,500,000 ₱ 2,875,000 Towel purchases, ₱90 per unit ₱ 337,500 ₱ 360,000 Number of box tops returned 22,500 38,550 Requirements: 1. Compute for the premiums (as an asset) amount for the year ended:A. December 31, 2020B. December 31, 2021 2. Compute for the premiums expense for the year ended:A. December 31, 2020B. December 31, 2021 3. Compute for the premium liability for the year ended:A. December 31, 2020B. December 31, 2021 4. How much net cash did the entity receive (give) with regards to the premium transactions for the year given below? (if net cash outflow,…12. Tropico company started a new promotional program. For every 10 box tops returned to Tops, customers receive a basketball. Tops estimates that only 60% of the box tops reaching the market will be redeemed. Additional information is as follows: Units Amounts Sales of product 100,000 30,000,000 Basketballs purchased 5,500 4,125,000 Basketballs distributed 4,000 What is the amount of year-end estimated liability associated with this promotion?Management Science: XY Company manufactures and sells LCD monitor at P5000 each. The production officer reported the following: Sale price: P5000 per monitor direct materials cost: P1000 per unit direct labor cost: P550 per unit other overhead cost P950 per unit Fixed costs related to the production are also reported: salary of management: P200,000 rent for the factory: P150,000, other salaries: P140,000 depreciation of equipment: P12,000Compute the profit function
- Management Science: XY Company manufactures and sells LCD monitor at P5000 each. The production officer reported the following: Sale price: P5000 per monitor direct materials cost: P1000 per unit direct labor cost: P550 per unit other overhead cost P950 per unit Fixed costs related to the production are also reported: salary of management: P200,000 rent for the factory: P150,000, other salaries: P140,000 depreciation of equipment: P12,000Compute the total fixed costManagement Science: XY Company manufactures and sells LCD monitor at P5000 each. The production officer reported the following: Sale price: P5000 per monitor direct materials cost: P1000 per unit direct labor cost: P550 per unit other overhead cost P950 per unit Fixed costs related to the production are also reported: salary of management: P200,000 rent for the factory: P150,000, other salaries: P140,000 depreciation of equipment: P12,000Find the break-even sales revenueManagement Science: XY Company manufactures and sells LCD monitor at P5000 each. The production officer reported the following: Sale price: P5000 per monitor direct materials cost: P1000 per unit direct labor cost: P550 per unit other overhead cost P950 per unit Fixed costs related to the production are also reported: salary of management: P200,000 rent for the factory: P150,000, other salaries: P140,000 depreciation of equipment: P12,000Find the break-even quantity
