Question
The following information relates to Puregold Price Club Inc. (PPCI) for the year 2022. PPCI has a pricing policy that allows 30% profit on the
The following information relates to Puregold Price Club Inc. (PPCI) for the year 2022. PPCI has a pricing policy that allows 30% profit on the sales price. Unearned Revenue from Gift Certificates Outstanding, January 01, 2022 - P250,000 Gift certificates sold during the year - P900,000 Gift certificates issued relating to sales promotion during the year - P100,000 Gift certificates redeemed during the year - P900,000 Gift certificates relating to the entitys promotion that expired during the year - P12,500 Additional outstanding gift certificates expected to expire in 2022 - P6,000
How much is the unearned revenue from gift certificates outstanding at December 31, 2022?
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Cost Accounting Foundations and Evolutions
Authors: Michael R. Kinney, Cecily A. Raiborn
8th Edition
9781439044612, 1439044619, 978-1111626822
