Journalizing and posting an adjusting entry for unearned revenue
southern magazine collects c...
Business, 16.10.2019 01:10 tomasgarrido10
Journalizing and posting an adjusting entry for unearned revenue
southern magazine collects cash from subscribers in advance and then mails the magazines to subscribers over a one-year period. requirements
1. record the journal entry to record the original receipt of $ 150 comma 000 cash.
2. record the adjusting entry that southern magazine makes to record earning $ 9 comma 000 in subscription revenue that was collected in advance.
3. using t-accounts, post the journal entry and adjusting entry to the accounts involved and show their balances after adjustments. (ignore the cash account.)
Answers: 2
Another question on Business
Business, 22.06.2019 03:10
On the first day of the fiscal year, a company issues an $7,500,000, 8%, five-year bond that pays semiannual interest of $300,000 ($7,500,000 × 8% × ½), receiving cash of $7,740,000. journalize the first interest payment and the amortization of the related bond premium. round to the nearest dollar. if an amount box does not require an entry, leave it blank.
Answers: 3
Business, 22.06.2019 14:40
In the fall of 2008, aig, the largest insurance company in the world at the time, was at risk of defaulting due to the severity of the global financial crisis. as a result, the u.s. government stepped in to support aig with large capital injections and an ownership stake. how would this affect, if at all, the yield and risk premium on aig corporate debt?
Answers: 3
Business, 22.06.2019 19:50
Ichelle is attending college and has a part-time job. once she finishes college, michelle would like to relocate to a metropolitan area. she wants to build her savings so that she will have a "nest egg" to start her off. michelle works out her budget and decides she can afford to set aside $9090 per month for savings. her bank will pay her 4 %4% per year, compounded monthly, on her savings account. what will be michelle's balance in five years?
Answers: 3
Business, 23.06.2019 02:20
When the benefit of one particular use of a resource is greater than the opportunity cost, then that resource is which of the following? a. not scarce b. being used efficiently c. a normal good d. non-excludable
Answers: 2
You know the right answer?
Questions
Computers and Technology, 26.11.2019 06:31
Computers and Technology, 26.11.2019 06:31
Computers and Technology, 26.11.2019 06:31
Computers and Technology, 26.11.2019 06:31
