To stimulate the sales of its Sugar Kids breakfast cereal, Kwiecien Corporation places one coupon in each
Question:
Instructions
(a) Prepare the journal entries that should be recorded in 2011 relative to the premium plan, assuming that the company follows a policy of charging the cost of coupons to expense as they are redeemed and adjusting the liability account at year end.
(b) Prepare the journal entries that should be recorded in 2011 relative to the premium plan, assuming that the company follows a policy of charging the full estimated cost of the premium plan to expense when the sales are recognized.
(c) How would the accounts resulting from the entries in (a) and (b) above be presented on the 2011 financial statements?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Coupon
A coupon or coupon payment is the annual interest rate paid on a bond, expressed as a percentage of the face value and paid from issue date until maturity. Coupons are usually referred to in terms of the coupon rate (the sum of coupons paid in a...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
a Inventory of Premium Puppets 60000 Cash 60000 To record purchase of 40000 puppets at 150 each Cash ...View the full answer
Answered By
Jeremy Jackson
Although neither formally taught how to teach as a whole, my experience with tutoring classmates is quite extensive. Throughout high school and currently in college, I provide my knowledge on historical topics ranging from World History to Survey of History courses. Either as a group or on an individual level, my peers would come and ask for assistance if they ever had trouble understanding a concept.
What sets me apart from the day-to-day teachers of history is the passion and dedication I have towards the discipline. When students normally think of History courses, the images of boring lectures and unrelatable figures come to mind. That is something I have strived to change when Interacting with both my fellow historians and the general public. History should be something engaging and interactive, not just a tidal wave of information unconnected from the modern world. As such, I model my tutoring pattern off of this motto, doing what I can to prevent my assistance from being cumbersome and actually make it something interesting. Though my official academic experience is limited at best, the amount of time spent working with other students to understand a complex sociopolitical issue makes up for it.
My qualifications include passing both of my Survey of History courses with an A or above. In addition to having above-average grades in my general Survey courses, I also maintained an A within my Historical Studies course. When discussing history with students looking for help, my main strategy is to review what they already know about a subject and bring in additional elements slowly and with relevant trivia to relate it to. Bombarding someone with information is not an effective way of having that knowledge retained. As such, I refrain from just throwing volumes of words and hoping something sticks, rather bringing in missing information and clarifying any misinformation present. I now currently have experience tutoring through Chegg inc as well.
0 Reviews
10+ Question Solved
Related Book For 
Intermediate Accounting
ISBN: 978-0470161012
9th Canadian Edition, Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
Question Posted:
