Captain Cook Cereal Includes One Coupon in Each Package of Granola

question 39

Multiple Choice

Captain Cook Cereal includes one coupon in each package of Granola that it sells and offers a puzzle in exchange for $2.00 and three coupons. The puzzles cost Captain Cook $3.50 each. Experience indicates that 20% of the coupons eventually will be redeemed. During the last month of 2013, the first month of the offer, Captain Cook sold 6 million boxes of Granola and 900,000 of the coupons were redeemed. What amount should Captain Cook report as a liability for coupons on its December 31, 2013, balance sheet?

• A)$0.
• B)$150,000.
• C)$300,000.
• D)$450,000.

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Definitions:

Deleting Contacts

The process of removing personal or business contact information from a digital address book or database.

People View

A user interface option in some software applications, particularly email and social networking services, that prioritizes content or messages from human contacts.

Email Messages

Electronic messages sent over a network using email protocols; they can contain text, hyperlinks, attachments, and rich text formatting.

Layout

The arrangement or plan of elements within a page, document, or interface, which dictates how content is structured and presented to the user.