On August 1, 2009, a magazine publisher receives $24 cash for a year s subscription ending...
On August 1, 2009, a magazine publisher receives $24 cash for a year s subscription ending July 31, 2010. This transaction was originally recorded with a credit to Subscription Revenue. The adjusting entry on December 31, 2009, would be:
Debit to Unearned Revenue, credit to Subscription Revenue for $14.
Debit to Subscription Revenue, credit to Unearned Revenue for $14.
Debit to Subscription Revenue, credit to Unearned Revenue for $10.
Debit to Unearned Revenue, credit to Subscription Revenue for $10.
Homework Answers
Hi
Let me know in case any issue and query:
Because, complete amount has not be recognized as revenue, therefore, partial amount will be transferred to Unearned revenue account as below:
Add Answer to:
On August 1, 2009, a magazine publisher receives $24 cash for a
year s subscription ending...
Revaluation Magazine receives $90 in advance from a customer for a 3-year subscription. Revaluation Magazine's entry...
Revaluation Magazine receives $90 in advance from a customer for a 3-year subscription. Revaluation Magazine's entry to record this transaction would include: O A. debit to Unearned Subscription Revenue for $90 B. credit to Unearned Subscription Revenue for $90 C. credit to Subscription Revenue for $90 OD. debit to Subscription Revenue for $90 An accrued expense is an expense incurred by the company but not yet paid in cash. True O False Dreams Take Flight Ltd. includes the sales tax...
Magazine Corp. sold $300,000 of “Field Hockey Digest" subscriptions on August 1, 2020, and recorded the...
Magazine Corp. sold $300,000 of “Field Hockey Digest" subscriptions on August 1, 2020, and recorded the full amount as “Unearned Revenue.” The subscriptions are for 12 monthly issues. At December 31, 2020, Magazine Corp. had mailed 5 issues of the magazine. What will the adjusting entry need to include with regard to this information? A. A $125,000 debit to unearned revenue. B. A $125,000 credit to unearned revenue. A $300,000 debit to unearned revenue A $125,000 debit to magazine revenues....
stuck on adjusted entrys! pls help! 4-10. Deferrals. 1. Style Corporation is a magavine publisher. On...
stuck on adjusted entrys! pls help!
4-10. Deferrals. 1. Style Corporation is a magavine publisher. On February 1. it received $24,000 from customers who had purchased 2-vear magazine subscriptions. Style publishes the magazine monthly. On February 1, Style's bookkeeper made the following entry to record the subscription sales: Cr. Dr. Cash 24,000 Unearned subscription sales Subscription sales 23,000 1,000 Assume that it is now December 31. Style has not made any adjusting journal entries related to this transaction since February...
Bridgeport Magazine sold 11,640 annual subscriptions on August 1, 2017, for $13 each. Prepare Bridgeport’s August 1, 201...
Bridgeport Magazine sold 11,640 annual
subscriptions on August 1, 2017, for $13 each. Prepare Bridgeport’s
August 1, 2017, journal entry and the December 31, 2017, annual
adjusting entry, assuming the magazines are published and delivered
monthly. (If no entry is required, select "No Entry" for the
account titles and enter 0 for the amounts. Credit account titles
are automatically indented when amount is entered. Do not indent
manually.)
Brief Exercise 13-4 Your answer is partially correct. Try again. Bridgeport Magazine...
Vaughn Manufacturing received cash of $63600 on August 1, 2020 for one year's rent in advance...
Vaughn Manufacturing received cash of $63600 on August 1, 2020
for one year's rent in advance and recorded the transaction with a
credit to Rent Revenue. The December 31, 2020 adjusting entry
is
debit Unearned Rent Revenue and credit Rent Revenue,
$26500.
debit Rent Revenue and credit Unearned Rent Revenue,
$37100.
debit Cash and credit Unearned Rent Revenue, $37100.
debit Rent Revenue and credit Unearned Rent Revenue,
$26500.
a. Tao Co. receives $11,700 cash in advance for four months of evenly planned legal services...
a. Tao Co. receives $11,700 cash in advance for four months of evenly planned legal services beginning on October 1. ng Cash and crediting Unearned Revenue both for $11.700. It is now December 31, and Tao has provided legal services as planned. What adjusting entry should Tao make to account for the work performed from October 1 through December 31? Unearned revenue Debit or Credit? Credit Step 1: Determine what the current account balance equals. $ 11,700 11,700 2,925 Step...
Karr Corporation received cash of $6483 on August 1, 20x8 for one year's rent in advance...
Karr Corporation received cash of $6483 on August 1, 20x8 for one year's rent in advance and recorded the transaction with a credit to Rent Revenue. The December 31, 20x8 adjusting entry is: Select one: a. Debit Unearned Rent and credit Rent Revenue, $2701 O b. Debit Rent Revenue and credit Unearned Rent, $2701 O c. Debit Rent Revenue and credit Unearned Rent, $3782 O d. Debit Cash and credit Unearned Rent, $3782
TO Karr Corporation received cash of $6421 on August 1, 20x8 for one year's rent in...
TO Karr Corporation received cash of $6421 on August 1, 20x8 for one year's rent in advance and recorded the transaction with a credit to Rent Revenue, The December 31, 20x8 adjusting entry is: Select one: a. Debit Rent Revenue and credit Unearned Rent $2675 b. Debit Rent Revenue and credit Unearned Rent $374 12 c. Debit Unlearned Rent and credit Rent Revenue, $2675 d. Debit Cash and credit Unearned Rent, $3746 Check
ivanhoe company Ltd publishes a monthy sports magazine, fishing preview. subscriptions to the magazine cost $28...
ivanhoe company Ltd publishes a monthy sports magazine,
fishing preview. subscriptions to the magazine cost $28 per year.
during november 2022, ivanhoe sells 6,000 subscriptions for cash,
beginning with the december issue. ivanhoe prepares financial
statements quarterly and recognizes subcription revenue at the end
of the quartee. the company uses the accounts unearned subcription
revenue and subscription revenue. the company has a december 31
year end
Date Account Titles and Explanation Debit Credit Nov. Prepare the adjusting entry at December...
Ms. Spencer started a fashion magazine company in which customers were required to pay her $120...
Ms. Spencer started a fashion magazine company in which customers were required to pay her $120 in advance for a year's subscription in which the customer receives one magazine each month. In December 2019 she received 10,000 subscription orders and in January 2020 she published her first magazine. Please prepare the journal entry for the issuance of the magazine in January. Select one: a. Debit: Unearned Subscription Revenue 1,200,000 Credit: Subscription Revenue 1,200,000 b. Debit: Cash 120,000 Credit: Subscription Revenue...
Revaluation Magazine receives $90 in advance from a customer for a 3-year subscription. Revaluation Magazine's entry to record this transaction would include: O A. debit to Unearned Subscription Revenue for $90 B. credit to Unearned Subscription Revenue for $90 C. credit to Subscription Revenue for $90 OD. debit to Subscription Revenue for $90 An accrued expense is an expense incurred by the company but not yet paid in cash. True O False Dreams Take Flight Ltd. includes the sales tax...
Magazine Corp. sold $300,000 of “Field Hockey Digest" subscriptions on August 1, 2020, and recorded the full amount as “Unearned Revenue.” The subscriptions are for 12 monthly issues. At December 31, 2020, Magazine Corp. had mailed 5 issues of the magazine. What will the adjusting entry need to include with regard to this information? A. A $125,000 debit to unearned revenue. B. A $125,000 credit to unearned revenue. A $300,000 debit to unearned revenue A $125,000 debit to magazine revenues....
stuck on adjusted entrys! pls help!
4-10. Deferrals. 1. Style Corporation is a magavine publisher. On February 1. it received $24,000 from customers who had purchased 2-vear magazine subscriptions. Style publishes the magazine monthly. On February 1, Style's bookkeeper made the following entry to record the subscription sales: Cr. Dr. Cash 24,000 Unearned subscription sales Subscription sales 23,000 1,000 Assume that it is now December 31. Style has not made any adjusting journal entries related to this transaction since February...
Bridgeport Magazine sold 11,640 annual
subscriptions on August 1, 2017, for $13 each. Prepare Bridgeport’s
August 1, 2017, journal entry and the December 31, 2017, annual
adjusting entry, assuming the magazines are published and delivered
monthly. (If no entry is required, select "No Entry" for the
account titles and enter 0 for the amounts. Credit account titles
are automatically indented when amount is entered. Do not indent
manually.)
Brief Exercise 13-4 Your answer is partially correct. Try again. Bridgeport Magazine...
Vaughn Manufacturing received cash of $63600 on August 1, 2020
for one year's rent in advance and recorded the transaction with a
credit to Rent Revenue. The December 31, 2020 adjusting entry
is
debit Unearned Rent Revenue and credit Rent Revenue,
$26500.
debit Rent Revenue and credit Unearned Rent Revenue,
$37100.
debit Cash and credit Unearned Rent Revenue, $37100.
debit Rent Revenue and credit Unearned Rent Revenue,
$26500.
a. Tao Co. receives $11,700 cash in advance for four months of evenly planned legal services beginning on October 1. ng Cash and crediting Unearned Revenue both for $11.700. It is now December 31, and Tao has provided legal services as planned. What adjusting entry should Tao make to account for the work performed from October 1 through December 31? Unearned revenue Debit or Credit? Credit Step 1: Determine what the current account balance equals. $ 11,700 11,700 2,925 Step...
Karr Corporation received cash of $6483 on August 1, 20x8 for one year's rent in advance and recorded the transaction with a credit to Rent Revenue. The December 31, 20x8 adjusting entry is: Select one: a. Debit Unearned Rent and credit Rent Revenue, $2701 O b. Debit Rent Revenue and credit Unearned Rent, $2701 O c. Debit Rent Revenue and credit Unearned Rent, $3782 O d. Debit Cash and credit Unearned Rent, $3782
TO Karr Corporation received cash of $6421 on August 1, 20x8 for one year's rent in advance and recorded the transaction with a credit to Rent Revenue, The December 31, 20x8 adjusting entry is: Select one: a. Debit Rent Revenue and credit Unearned Rent $2675 b. Debit Rent Revenue and credit Unearned Rent $374 12 c. Debit Unlearned Rent and credit Rent Revenue, $2675 d. Debit Cash and credit Unearned Rent, $3746 Check
ivanhoe company Ltd publishes a monthy sports magazine,
fishing preview. subscriptions to the magazine cost $28 per year.
during november 2022, ivanhoe sells 6,000 subscriptions for cash,
beginning with the december issue. ivanhoe prepares financial
statements quarterly and recognizes subcription revenue at the end
of the quartee. the company uses the accounts unearned subcription
revenue and subscription revenue. the company has a december 31
year end
Date Account Titles and Explanation Debit Credit Nov. Prepare the adjusting entry at December...
Most questions answered within 3 hours.
-
a) The frequency of light coming out from a laser source is 297
MHz. What is...
asked 20 minutes ago -
LABORATORY EXERCISES:
Using nested for loops, write a java program to print the
pattern as shown...
asked 20 minutes ago -
Assume that the correlation coefficient between achievement test
scores (X) and grade point averages (Y) among...
asked 33 minutes ago -
In Chapter 1 titled "So Close and Yet So Different", in "Why
Nations Fail" authors bring...
asked 30 minutes ago -
Leadership Philosophy
Write a two-page paper identifying your personal leadership
philosophy based on your new perspective...
asked 26 minutes ago -
Which of these function correctly defines the function g(),
which should return a pointer to a...
asked 35 minutes ago -
Pickett Industries just paid a dividend of D0 = $1.10. Analysts
expect the company's dividend to...
asked 36 minutes ago -
Suppose a random sample of 900 measurements is taken from an
unknown population. The average of...
asked 38 minutes ago -
Suppose we add another SRC instruction xor ra, rb, rc that xors
the contents of registers...
asked 40 minutes ago -
Hello, I need some help creating this class in Java. This is for
a larger project....
asked 1 hour ago -
Why does entrepreneurs trying to employ AI into their
business organizations? What are the advantages and...
asked 59 minutes ago -
// This program is supposed to display every fifth year
// starting with 2017; that is,...
asked 1 hour ago