Homework Answers
| Jan 1 | Cash | 40,800 | |
| Unearned subscription revenue | 40,800 | ||
| (408*100) | |||
| Mar 25 | Unearned subscription revenue | 785 | |
| Subscription revenue | 785 | ||
| (40,800/52) |
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Advance Payments for Goods The Chicago Daily Times Corporation (CDT) publishes a daily newspaper. A 52-week subscriptio...
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ivanhoe company Ltd publishes a monthy sports magazine,
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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
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Date Account Titles and Explanation Debit Credit Nov. Prepare the adjusting entry at December...
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Ivanhoe Company Ltd. publishes a monthly 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 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. Prepare the entry in November for the receipt of the subscriptions. (Credit account titles are...
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...
C. Deferred revenues—subscription fees Tremblay Inc. publishes a monthly newsletter for retail marketing managers and requires its subscribers to pay $72 in advance for a one-year subscription. During the month of April 2018, Tremblay Inc. sold 160 one-year subscriptions and received payments in advance from all new subscribers. Only 85 of the new subscribers paid their fees in time to receive the April newsletter. The other subscribers received the newsletter in May. Required: Prepare journal entries to record the subscription...
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Required information [The following information applies to the questions displayed below.] The Tennis Times (TTT) is a publisher of magazines. Its accounting policy for subscriptions follows: Revenues Revenues from our magazine subscription services are deferred initially and later recognized as revenue as subscription services are provided. Assume TTT (a) collected $420 million in 2018 for magazines that will be distributed later in 2018 and 2019, (b) provided $204 million of services on these subscriptions in 2018, and (c) provided $216...
requreu uHUmen (The following information applies to the questions displayed below) The Tennis Times (TTT) is a publisher of magazines. Its accounting policy for subscriptions follows: Revenues Revenues from our nagazine subscription services are deferred initially and later recognired as revenue as subscription services are provided. Assume TTT (a) collected $420 million in 2018 for magazines that will be distributed later in 2018 and 2019, (b) provided $204 million of services on these subscriptions in 2018, and (d) provided $216...
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