Answered step by step
Verified Expert Solution
Question
1 Approved Answer
565.000 530,000 QUESTION 26 Use the information below for the next two questions Talisca Company includes one coupon in each bag of dog food itsells.
565.000 530,000 QUESTION 26 Use the information below for the next two questions Talisca Company includes one coupon in each bag of dog food itsells. In return for 15 coupons and 25 cents, customers receive a leash. The leashes cost the company $4.50 each. Talisca estimates that con of the coupons w be redeemed. Data for 2019 are as follows: 2019 Bags of dog food sold 1,650,000 Coupons redeemed 225,000 Talisca does not make any coupon expense entries at the time of sale. Rather, it recognizes coupon expense at the time of actual redemptions, and makes an adjusting entry at the end of the year. How much coupon (premiumy expense should Talisca record for 20197 $63.750 $187.000 $190.000 $225.000 QUESTION 27 How much is Talisca's estimated liability for coupons premium) at December 31, 2017 50 5123.250 51817.000 5225.000 Chick Save and Submit to save and submit. Click Save All Ano save all anscers
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started