Question

OT I Movies Online sells subscriptions for $36 for 18 months. The company collects cash in advance and then subscribers have
0 0
Add a comment Improve this question Transcribed image text
Answer #1

a.

Movies online should record revenue when it gives movies access to the customer. Each month movies online should record revenue, when it fulfil customer's obligation and meet their demand.

b.

For eight months, movies online should record revenue of $16.

Working notes :

($36 / 18 months) * 8 months = $16

Add a comment
Know the answer?
Add Answer to:
OT I Movies Online sells subscriptions for $36 for 18 months. The company collects cash in...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Seacoast Magazine sells subscriptions for $36 for 18 issues. The company collects cash in advance and...

    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.

  • S3-3 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...

  • Score: 0.5 of 1 pt 1 of 17 (11 complete) HW Score: 45.65%, 10.5 of 23...

    Score: 0.5 of 1 pt 1 of 17 (11 complete) HW Score: 45.65%, 10.5 of 23 pts 1x S3-3 (similar to) Question Help Southwest Magazine sells subscriptions for $60 for 30 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 Southwest Magazine should record revenue for this situation. b. the amount of revenue Southwest Magazine should record for ten issues. a. Southwest Magazine...

  • Read the case: Netflix Inc.: The Second Act - Moving into Streaming and complete your case...

    Read the case: Netflix Inc.: The Second Act - Moving into Streaming and complete your case analysis. Discuss the following: 1) briefly summarize the key marketing strategy issues in the case that are still relevant TODAY in addition to contemporary issues you find via research; 2) make thorough recommendations on how the issues should be handled; 3) provide a justification for the recommendations. Case write-ups should be 3-5 pages, double spaced, 12 font size in Times New Roman. The case...

  • i need help with questions 9 & 10. FINANCE EXPERTS ONLY. CASH FLOW CONCERNS Three months...

    i need help with questions 9 & 10. FINANCE EXPERTS ONLY. CASH FLOW CONCERNS Three months ago Harding had prepared a cash flow forecast for the period October 1995 to May 19%. November through March is generally a slow period for the resort, and it is not unusual for the lodge to run cash deficits during most, if not all, of these months. However, the cash surplus generated during the peak period, from August through October, is typically sufficient to...

  • I JUST NEED HELP WITH QUESTION 2 CASH FLOW CONCERNS Three months ago Harding had prepared...

    I JUST NEED HELP WITH QUESTION 2 CASH FLOW CONCERNS Three months ago Harding had prepared a cash flow forecast for the period October 1995 to May 1996. November through March is generally a slow period for the resort, and it is not unusual for the lodge to run cash deficits during most, if not all, of these months. However, the cash surplus generated during the peak period, from August through October, is typically sufficient to meet the shortfall. This...

  • I need answers for my reviewer. 1. The time period assumption assumes that an organization's activities...

    I need answers for my reviewer. 1. The time period assumption assumes that an organization's activities may be divided into specific reporting time periods including all of the following A Month B Quarters C. Calendar years. D. Days 2. The 12-month period that ends when a company's sales activities are at their lowest level is called the A Fiscal year. B Calendar year. C. Natural business year. D. Accounting period 3. Courtney Company purchased equipment on November 1, 2018 and...

  • GIVEN INFORMATION: The Byte of Accounting Corporation (Byte) sells turn-key computer systems to midsize businesses on...

    GIVEN INFORMATION: The Byte of Accounting Corporation (Byte) sells turn-key computer systems to midsize businesses on account. Byte was started by Lauryn on January 1 of last year when she was issued 2,200 shares of stock. - Perpetual FIFO will be used for the Super Toners. - The allowance method is used to account for bad debts. FOR JOURNAL ENTRIES: #15, #26, and #27 I need an answer with the following (for all listed journal entries below): 1) Transaction Name...

  • Actions that damage a company and its employees should be stamped out, everyone would agree. But ...

    Actions that damage a company and its employees should be stamped out, everyone would agree. But should the people responsible be stamped out, too? HBR CASE STUDY The Reign of Zero Tolerance by Ben Gerson "Mr. Pemberton?" manager. The guards had radioed her that the "Yes, that's me," Simon replied distractedly, his back turned. target wasn't putting up much resistance. "Your personal belongings will be messen The two burly gentlemen who had suddenly gered to your home later today," Sallie...

  • Please use own words. Thank you. CASE QUESTIONS AND DISCUSSION > Analyze and discuss the questions...

    Please use own words. Thank you. CASE QUESTIONS AND DISCUSSION > Analyze and discuss the questions listed below in specific detail. A minimum of 4 pages is required; ensure that you answer all questions completely Case Questions Who are the main players (name and position)? What business (es) and industry or industries is the company in? What are the issues and problems facing the company? (Sort them by importance and urgency.) What are the characteristics of the environment in which...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT