In packages of its products, SUPEREASY includes coupons that may be presented at retails stores...
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In packages of its products, SUPEREASY includes coupons that may be presented at retails stores to obtain discounts on other placid products. Retailers are reimbursed for the face amount of coupons redeemed plus 10% of that amount for handling costs. SUPEREASY honors requests for coupon redemption by retailer up to 3 months after the consumer expiration date. SUPEREASY estimates that 60% of all coupons issued will ultimately be redeemed. Information relating to coupons issued by SUPEREASY during 2020 is a s follows: Consumer expiration date December 31, 2019 Total payments to retailers as of Dec 31, 2019 Php 165,000 Liability for unredeemed coupons as of Dec 31, 2019 99,000
* What is the total face amount of coupons issued by SUPEREASY in 2019?
On January 1, 2020 FWD Insurance issued 10% bonds in the face amount of Php 5,000,000 that mature on December 31, 2029. The bonds were issued for Php 4,430,000 to yield 12% resulting in bond discount of Php 570,000. The entity used the interest method. Interest is payable semiannually on June 30 and December 31 * What is the carrying amount of the bonds payable on December 31, 2020?
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