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:
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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...
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stuck on adjusted entrys! pls help! 4-10. Deferrals. 1. Style Corporation is a magavine publisher. On...
stuck on adjusted entrys! pls help!
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subscriptions on August 1, 2017, for $13 each. Prepare Bridgeport’s
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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...
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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,
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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...
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TO Karr Corporation received cash of $6421 on August 1, 20x8 for one year's rent in...
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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...
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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.
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year end
Date Account Titles and Explanation Debit Credit Nov. Prepare the adjusting entry at December...
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