Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. muggs co. includes one coupon in each bag of dog f

Muggs Co. includes one coupon in each bag of dog food it sells. In return...

80.2K

Verified Solution

Question

Accounting

Muggs Co. includes one coupon in each bag of dog food it sells. In return for eight coupons, customers receive a leash. The leashes cost Muggs $4 each. Muggs estimates that 45 percent of the coupons will be redeemed. Data for 2017 and 2018 are as follows:

2017 2018

Bags of dog food sold 500,000 600,000

Leashes purchased 18,000 22,000

Coupons redeemed 120,000 150,000

___18. The premium liability at December 31, 2018 is

A) $30,000. B) $52,500. C) $60,000. D) $112,500.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

The owner of the Columbia construction company must decide between building a house development constructing...

Basic Math
Q

Digestive tract and digestive enzyme mapping: For both example's one and two and three: Example 1: C-ILE-LEU-VAL-ASP-GLU-CYS-TRP-GLY-LYS-PHE-ARG-N Example 2:...

Medical Sciences
Q

Newton's Law of Gravitational attraction establishes the relationship among mass, distance fo separation and a constant...

Physics
Q

A long wire of diameter D = 2mm is submerged in an oil bath at 25...

Mechanical Engineering
Q

Scientists create a linkage map of two linked genes. They find that the recombination frequency...

Biology
Q

A scientist is studying two populations of zebra doves in the Hawaiian Islands The two...

Biology
Q

manuracurea uU rm,r4,ra,m (The folowing thomistion applies to the questions atsplayed belove) ...

Accounting
Q

TRIXY MAGIC, INCORPORATEDCompute the component percentages for Trixy Magic's income statement below. Note: Enter...

Accounting
Q

The following transactions and adjusting entries were completed by a paper packaging company called Gravure...

Accounting
Q

Which of the following would not be used to calculate the quick ratio? Equityet worth...

Accounting
Q

Juan is sel employed, during the tax year he had the following incme and expenses,...

Accounting
Q

Suppose rRF = 3%, rM = 11%, and bi = 1.5. 2. Now suppose rRF...

Finance