Homework Answers
Journal entry
| Date | account title and explanation | Debit | Credit |
| Nov | Cash (6000*28) | 168000 | |
| Unearned subscription revenue | 168000 | ||
| Dec 31 | Unearned subscription revenue (168000/12) | 14000 | |
| Subscription revenue | 14000 | ||
| Mar 31 | Unearned subscription revenue (14000*3) | 42000 | |
| Subscription revenue | 42000 | ||
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Ivanhoe Company Ltd. publishes a monthly 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...
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...
Blossom Company Ltd. publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $28...
Blossom Company Ltd. publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $28 per year. During November 2022, Blossom sells 5,100 subscriptions for cash, beginning with the December issue. Blossom prepares financial statements quarterly and recognizes subscription revenue at the end of the quarter. The company uses the accounts Unearned Subscription Revenue and Subscription Revenue. The company has a December 31 year-end (a) Prepare the entry in November for the receipt of the subscriptions. (Credit account titles...
3. Moreno Company publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost RM20...
3. Moreno Company publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost RM20 per year. During November 2017, Moreno sells 15,000 subscriptions beginning with the December issue. Moreno prepares financial statements quarterly and recognizes subscription revenue at the end of the quarter. The company uses the accounts Unearned Subscription Revenue and Subscription Revenue. Required: (a) Prepare the entry in November for the receipt of the subscriptions. (b) Prepare the adjusting entry at December 31, 2017, to record...
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...
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.)
Bridgeport Magazine sold 11,640 annual subscriptions on August 1, 2017, for $13...
Flint Corporation issued 2,900 7%, 5-year, $1,000 bonds dated January 1, 2022, at face value. Interest...
Flint Corporation issued 2,900 7%, 5-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit account titles are automatically...
Culver Corporation issued 2,800 9%, 7-year $1,000 bonds dated January 1, 2022, at face value. Interest...
Culver Corporation issued 2,800 9%, 7-year $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1,2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit account titles are automatically indented...
Brief Exercise 10-10 Indigo Corporation issued 3,000 8%, 6-year, $1,000 bonds dated January 1, 2022, at...
Brief Exercise 10-10 Indigo Corporation issued 3,000 8%, 6-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1, 2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit account...
Brief Exercise 10-10 Monty Corp. issued 1,900 5%, 9-year, $1,000 bonds dated January 1, 2022, at...
Brief Exercise 10-10 Monty Corp. issued 1,900 5%, 9-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1, 2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit account...
Current Attempt in Progress Martinez Corp. issued 1,800 8%, 8-year $1.000 bonds dated January 1, 2022, at face value. I...
Current Attempt in Progress Martinez Corp. issued 1,800 8%, 8-year $1.000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan 1, 2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit...
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...
Blossom Company Ltd. publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $28 per year. During November 2022, Blossom sells 5,100 subscriptions for cash, beginning with the December issue. Blossom prepares financial statements quarterly and recognizes subscription revenue at the end of the quarter. The company uses the accounts Unearned Subscription Revenue and Subscription Revenue. The company has a December 31 year-end (a) Prepare the entry in November for the receipt of the subscriptions. (Credit account titles...
3. Moreno Company publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost RM20 per year. During November 2017, Moreno sells 15,000 subscriptions beginning with the December issue. Moreno prepares financial statements quarterly and recognizes subscription revenue at the end of the quarter. The company uses the accounts Unearned Subscription Revenue and Subscription Revenue. Required: (a) Prepare the entry in November for the receipt of the subscriptions. (b) Prepare the adjusting entry at December 31, 2017, to record...
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...
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.)
Bridgeport Magazine sold 11,640 annual subscriptions on August 1, 2017, for $13...
Flint Corporation issued 2,900 7%, 5-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit account titles are automatically...
Culver Corporation issued 2,800 9%, 7-year $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1,2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit account titles are automatically indented...
Brief Exercise 10-10 Indigo Corporation issued 3,000 8%, 6-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1, 2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit account...
Brief Exercise 10-10 Monty Corp. issued 1,900 5%, 9-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1, 2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit account...
Current Attempt in Progress Martinez Corp. issued 1,800 8%, 8-year $1.000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan 1, 2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit...
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