Business, 06.05.2020 00:26 btcastongia
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 million of services on these subscriptions in 2019.
Required:
1) Using the information given, indicate the accounts, amounts, and accounting equation effects of transactions (a), (b), and (c).
2) Using the information given, prepare the journal entries that would be recorded for a) , b) and c).
Answers: 1
Business, 22.06.2019 14:00
Which of the following is not a characteristic of a weak economy? a. a low employment rateb. a high inflation ratec. a decreased gdpd. a high unemployment rate
Answers: 1
Business, 22.06.2019 20:00
River corp's total assets at the end of last year were $415,000 and its net income was $32,750. what was its return on total assets? a. 7.89%b. 8.29%c. 8.70%d. 9.14%e. 9.59%
Answers: 3
Business, 23.06.2019 04:00
Asmall company has 10,000 shares. joan owns 200 of these shares. the company decided to split its shares. what is joan's ownership percentage after the split
Answers: 2
The Tennis Times (TTT) is a publisher of magazines. Its accounting policy for subscriptions follows:...
Chemistry, 02.09.2021 21:50
English, 02.09.2021 21:50
Chemistry, 02.09.2021 21:50
Mathematics, 02.09.2021 21:50
Spanish, 02.09.2021 21:50
Mathematics, 02.09.2021 21:50
History, 02.09.2021 21:50