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jok3333 [9.3K]
3 years ago
12

During 2018, Deluxe Leather Goods issued 728,000 coupons which entitles the customer to a $4.30 cash refund when the coupon is s

ubmitted at the time of any future purchase. Deluxe estimates that 70% of the coupons will be redeemed. 265,000 coupons had been processed during 2018. At December 31, 2018, Deluxe should report a liability for unredeemed coupons of _____
Business
1 answer:
suter [353]3 years ago
7 0

Answer:

$1,051,780

Explanation:

The computation of the  liability for unredeemed coupons is shown below:

= (Number of coupons issued × estimated percentage - processed coupons) × coupon worth

= (728,000 coupons × 70% - 265,000 coupons) × $4.30

= 244,600 coupons × $4.30

= $1,051,780

Simply first we determined the number of unredeemed coupons and then multiplied it by the coupon worth

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Answer:

Total amount of dividends paid over the last three years is $20500

Explanation:

The net income of the company is either retained in the company or paid out as dividends. To calculate the value of the ending retained earnings, we use the following formula,

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We first need to calculate the total net income for the 3 year period. The total net income for the 3 year period is, 3 * 6500 = $19500

Plugging in the available values for the ending and beginning balance of retained earnings and net income, we can calculate the value of total dividends paid for the three year period.

15000 = 16000 + 19500 - Dividends

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