Homework Answers
| JOURNAL ENTRY | |||||
| ACCOUNT TITLE | DEBIT | CREDIT | |||
| At the time of receipt of subscription | |||||
| Cash | $648.00 | (18*36) | |||
| Unearned Revenue | $648.00 | ||||
| At the time of dispatch of each issue | |||||
| Unearned Revenue | $18 | ||||
| Revenue | $18 | ||||
| Amount of revenue to be recorded for eight issues | |||||
| Unearned Revenue | $144.00 | (18*8) | |||
| Revenue | $144.00 | ||||
| Amount of revenue to be recorded for eight issues | $144.00 | ||||
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Seacoast Magazine sells subscriptions for $36 for 18 issues. The company collects cash in advance and...
S3-3 Applying the revenue recognition principle Seacoast Magazine sells subscriptions for $36 for 18 issues. The...
S3-3 Applying the revenue recognition principle Seacoast Magazine sells subscriptions for $36 for 18 issues. The company collects cash in advance and then mails out the magazines to subscribers each month. Apply the revenue recognition principle to determine a. when Seacoast Magazine should record revenue for this situation. b. the amount of revenue Seacoast Magazine should record for eight issues. S3-4 Applying the matching principle Suppose on January 1, Andrew's Tavern prepaid rent of $16,800 for the full year. At...
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Need this answered within the hour, it's super quick thank you Vogue Magazine sells magazine subscriptions...
Need this answered within the hour, it's super quick thank
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Need this answered within the hour, it's super quick thank
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