Question
Sheridan Company includes one coupon in each bag of dog food it sells. In return for eight coupons, customers receive a leash. The leashes cost
Sheridan Company includes one coupon in each bag of dog food it sells. In return for eight coupons, customers receive a leash. The leashes cost Sheridan $3 each. Sheridan estimates that 60 percent of the coupons will be redeemed. Data for 2020 and 2021 are as follows:
| 2020 | 2021 | |||
| Bags of dog food sold | 510000 | 600000 | ||
| Leashes purchased | 19000 | 24000 | ||
| Coupons redeemed | 130000 | 150000 |
The premium liability at December 31, 2020 is
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Auditing Local Union Financial Records A Guide For Local Union Trustees
Authors: John Lund
1st Edition
0875461948, 978-0875461946
