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8090 [49]
3 years ago
6

General Inc. shipped 100 million coupons in products it sold in 2013. The coupons are redeemable for thirty cents each. General

anticipates that 70% of the coupons will be redeemed. The coupons expire on December 31, 2014. There were 45 million coupons redeemed in 2013, and 30 million redeemed in 2014.
1. What was Gerneral`s coupon liability as of December 31, 2013?

2.What was General`s coupon promotion expense in 2013?

3. What was Gerneral`s coupon promotional expense in 2014?

Business
1 answer:
11111nata11111 [884]3 years ago
8 0

Answer:

Gerneral's coupon liability as of December 31, 2013= $21 Million

General's coupon promotion expense in 2013= $21 Million

What was Gerneral's coupon promotional expense in 2014 can be seen in the attached photo

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Answer:

inventory = 0.125

Explanation:

It is asking us to express the inventory as a percent of sales

Th common-size statement refer to express each valeu a percent of sales:

Sales            3,340   100.000%

income           274         8.234%  (274 divided by 3340 times 100)

fixed assets 2,699      80.809%

current assets 836     25.030%

Inventory         417       0.12485  (417/3,340)

the answer should be a decimal so we don't covert to percent.

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One reason why a blanket obligation for all employees to obey their employers no matter what is unreasonable is that the choice
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hichkok12 [17]

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Paying an amount on account reduces the amount owed on a liability.

<h3>What is liability?</h3>
  • A liability is an obligation that a person or business has, typically financial in nature. Over time, liabilities are resolved by the transmission of economic advantages like cash, products, or services.
  • There are various ways to define a liability's duration. The average duration (or mean term) of the liability is what is typically meant by the term "duration of liability" in actuarial valuation. In other terms, it refers to the typical rate of a liability's repayment.
  • Liabilities can be used by businesses to increase liquidity if they are having cash flow issues. Most small and medium-sized enterprises lack the financial resources necessary to grow.

Learn more about liability here:

brainly.com/question/15006644

#SPJ4

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