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Determine the requirements for each of the independent cases

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Determine the requirements for each of the independent cases. Use a 10-column worksheet for the solution. (10 items x 5 points) Case No. 1: Iii-Mort Hi-Mart, a grocery retailer situated in Manila, operates a customer loyalty program. The entity grants program members with loyalty points every time they spend a speci?c amount on groceries. Program members can redeem the points for further purchases. The points have no expiry date. In 2x18, the sales amounted to P7,000,000 based on stand-alone selling price. During the same year, the entity granted 10,000 points, but the management expected that only 80% or 8,000 points would be redeemed. The stand-alone selling price of each loyalty point is estimated at P100. On December 31, 2X18, 4,800 points have been redeemed. In 2x19, the management revised its expectations and now expected that 9096 or 9,000 points would be redeemed altogether. During 2x19, the entity redeemed 2,400 points. 1. What amount should be reported as sales revenue, including the revenue earned from points for 2X18? 2. What is the revenue earned from loyalty points for 2x19?

Case No. 2: ABC Company ABC Company includes one (1) coupon in each box of corn flakes it sells. A bowl is offered as a premium to customers who send in 10 coupons and a remittance of P10. Distribution cost of premium is P5. Experience indicates that only 30% of the coupons will be redeemed. 2X18 2X19 Boxes of corn flakes sold 2,000,000 2,500,000 Number of bowls purchased at P50 each 50,000 80,000 Coupons redeemed 400,000 700,000 3. What is the premium expense for 2X18? 4. What is the estimated premium liability on December 31, 2X18? 5. What is the premium expense for 2X19? 6. What is the estimated premium liability on December 31, 2X19?

Case No. 3: Demy Company Before deducting bonus and income taxes, Demy Company has a profit amounting to P 2,000,000. In addition, the bonus rate and income tax rate are 1096 and 30%, respectively. (Round of your answers to the nearat whole number) 7. How much is the bonus if Demy opts to base it on pro?t before deducting bonus and income taxes? 8. How much is the bonus if Demy opts to base it on pro?t after deducting bonus and but before income taxes?

9. How much is me bonus if Demy opts to base it on pro?t before deducting bonus and but after income
taxes? 10. How much is the bonus if Demy opts to base it on profit after deducting both bonus and income
taxes?