Blossom Inc. sells prepaid telephone cards to customers in its convenience stores. When Bl sells cards, it then pays the telecommunications company, Cullumber, for the value of the ca a 20% commission. Assume that Blossom receives $4,000 of prepaid cards in January 2025 Blossom sold 50% of the cards in February, 30% in March, and 20% in April. The total paym Blossom to Cullumber over the 3 months is $3,200.
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- Crane Inc. sells prepaid telephone cards to customers in its convenience stores. When Crane sells cards, it then pays the telecommunications company, Blossom, for the value of the cards less a 20% commission. Assume that Crane receives $3,600 of prepaid cards in January 2025. Crane sold 45% of the cards in February, 30% in March, and 25% in April. The total payment by Crane to Blossom over the 3 months is $2,880. Indicate how much income Crane should recognize in January, February, March, and April. (If answer is 0, please enter O. Do not leave any fields blank.) January income February income $ March income $ April income $ $Ayayai Inc. sells prepaid telephone cards to customers. Ayayai then pays the telecommunications company, TeleExpress, for the actual use of its telephone lines related to the prepaid telephone cards. Assume that Ayayai sells $4,100 of prepaid cards in January 2020. It then pays TeleExpress based on usage, which turns out to be 55% in February, 25% in March, and 20% in April. The total payment by Ayayai for TeleExpress lines over the 3 months is $3,000.Indicate how much income Ayayai should recognize in January, February, March, and April. (If answer is 0, please enter 0. Do not leave any fields blank.) January income February income March income April incomeTelephone Sellers Inc. sells prepaid telephone cards to customers. Telephone Sellers then pays the telecommunications company, TeleExpress, for the actual use of its telephone lines related to the prepaid telephone cards. Assume that Telephone Sellers sells $4,000 of prepaid cards in January 2020. It then pays TeleExpress based on usage, which turns out to be 50% in February, 30% in March, and 20% in April. The total payment by Telephone Sellers for TeleExpress lines over the 3 months is $3,000. January Income $ 0 February Income ( $ 0 x .0 x .0 ) $_____ March Income ( $ 0 x .0 x .0 ) $_____ April Income ($ 0 x .0 x .0) $______ Please I need the values that go inside the parenthesis. Thank you
- Telephone Sellers Inc. sells prepaid telephone cards to customers. Telephone Sellers then pays the telecommunications company, TeleExpress, for the actual use of its telephone lines related to the prepaid telephone cards. Assume that Telephone Sellers sells $4,000 of prepaid cards in January 2020. It then pays TeleExpress based on usage, which turns out to be 50% in February, 30% in March, and 20% in April. The total payment by Telephone Sellers for TeleExpress lines over the 3 months is $3,000. Indicate how much income Telephone Sellers should recognize in January, February, March, and April.Kumi Ltd permits its customers to pay with a credit card or to receive a percentage discount ? for paying cash. For credit card purchases, the company receives 97% of the purchase price one-half month later. Determine the value of ? that would make the two payment methods equivalent if the company’s annual rate of return is 14%.Larkspur Inc. sells prepaid telephone cards to customers. Larkspur then pays the telecommunications company, TeleExpress, for the actual use of its telephone lines related to the prepaid telephone cards. Assume that Larkspur sells $5,700 of prepaid cards in January 2020. It then pays TeleExpress based on usage, which turns out to be 50% in February, 30% in March, and 20% in April. The total payment by Larkspur for TeleExpress lines over the three months is $2,100. Indicate how much income Larkspur should recognize in January, February, March, and April under IFRS. (Do not leave any answer field blank. Enter O for amounts.) Month Income January $ February $ March 2$ April 2$
- Sunland, Inc. is a distributor of prepaid telephone cards to customers in its convenience stores. When Sunland sells the cards, it then pays the telecommunications company, TeleExpress, less a commission of 20 percent of the selling price to customers. Sunland receives $4,200 in cards in January 2020. Sunland sold 45% of the cards in February, 30% in March, and 25% in April. It costs TeleExpress $3,000 to provide the telephone service on the cards sold by Sunland.Indicate how much income Sunland should recognize in January, February, March, and April.Stellar, Inc. is a distributor of prepaid telephone cards to customers in its convenience stores. When Stellar sells the cards, it then pays the telecommunications company, TeleExpress, less a commission of 20 percent of the selling price to customers. Stellar receives $3,800 in cards in January 2020. Stellar sold 55% of the cards in February, 30% in March, and 15% in April. It costs TeleExpress $2,900 to provide the telephone service on the cards sold by Stellar. Indicate how much income Stellar should recognize in January, February, March, and April.Anton Company sells one dozen doughnuts for P500 per box. There is a promotion wherein if a customer buys 3 boxes in a single transaction, a customer received a coupon for one additional box for free. Customers can redeem coupons at any time following the month of sale of the 3 boxes before the expiration date. It is expected 60% of the customers will redeem the coupons. During 2022, the entity sold 15,000 boxes at P500 per box or P7,500,000. During 2023, the entity delivered 2,000 free additional boxes to the customers. Required: 1. Compute the stand-alone selling price of the coupons. 2. Allocate the transaction price to the products sold and the coupons. 3. Prepare the journal entry to record the sale of the products and issue of the free product coupons in 2022 4. Prepare the journal entry to record the delivery of 2,000 free additional boxes in 2023.
- Hot Tub Builders sells to three retail dealers under an agreement wherein each dealer pays monthly. The average payments are $148,500, $162,900, and $74,500 from these dealers. Each payment has a collection delay of 1.5 days. What is the amount of the average daily receipts assuming each month has 30 days?Star Company is offering a promotion whereby a customer who purchases three boxes of chocolates at P200 per box in a single transaction receives a coupon for one free box of chocolates if the customer fills out a request form and mails it before a set expiration date. It is expected that 75% of the coupons will be redeemed.During 2021, the entity sold 60,000 boxes of chocolates at P200 per box or P12,000,000. During 2022, the entity delivered 12,000 additional free boxes of chocolates to the customers.A. What amount should be reported as stand-alone selling price of the free product coupons? 1,500,000 4,000,000 1,000,000 3,000,000 B. What amount should be reported as sales revenue from the delivery of free products in 2022? 1,800,000 1,440,000 1,200,000 720,000 C. What amount should be reported as sales revenue in 2021? 12,000,000 6,000,000 4,800,000 9,600,000A washer-dryer combination can be purchased from a department store by making monthly credit card payments of $56.86 for two-and-a-halfyears. The first payment is due on the date of sale and interest is 22% compounded monthly. (a) What is the purchase price? (b) How much will be paid in installments? (c) How much is the cost of financing? (d) If an additional $9.00 per month is added to cover a service contract, what is the value of the entire contract on the date of sale?