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A /New York daily newspaper called "Manhattan Today" charges an annual subscription fee of $108. Customers prepay their subscriptions and receive 260 issues over the year.To attract more subscribers, the company offered new subscribers the ability to pay $110 for an annual subscription that also would include a coupon to receive a 40% discount on a one-hour ride through Central Park in a horse-drawn carriage. The list price of a carriage ride is $100 per hour. The company estimates that approximately 30% of the coupons will redeemed.
a. how much revenue should Manhattan Today recognize upon receipt of the $110 subscriptions price?
b. how many performance obligation exist in this contract?
c. Prepare the journal entry to recognize sale of 14 new subscriptions, clearly identifying the revenue or unearned revenue associated with each performance obligation.
Which type of audit documentation includes board meeting minutes?
Harris Company’s sales revenue for 2005 was $300,000. Harris has one product that sells for $25 and has variable costs of $18. Fixed costs total $155,000. How many units must Harris sell to break even? Round your answer up to the nearest whole unit.
Prepare the following schedules for each month in the first quarter of 2014 and for the quarter in total: Expected collections from clients and Expected payments for landscaping supplies.
Betterments are a type of capital expenditure
Journalize the entry to record the amount of cash proceeds from the sale of the bonds
q1. in the case of a taxpayer who uses the lower-of-cost-or-market inventory methoda.market means the price at which
Evaluate the product factory overhead costs, using (a) the direct labor hours plant-wide factory overhead rate and (b) the machine hour plant-wide factory overhead rate.
Is management accounting information developed in conformity with generally accepted accounting principles or some other set of prescribed standards. Explain.
give an overview of the accounting for retirement compensation benefits given by employers. in your discussion contrast
All revenue and inter fund transfers of the City of Fenton are accounted for on the modified accrual basis. Below is shown a list of Fenton's General Fund transactions of a revenue or transfer nature. State which ones should be recognized by the Gene..
Daan Corporation wholesales repair products to equipment manufacturers. On April 1, 2014, Daan Corporation issued $5,600,000 of 10-year, 11% bonds at a market (effective) interest rate of 10%, receiving cash of $5,948,940. Interest is payable semi an..
Evaluate the Sales Budget of a company, Manufacturing overhead cost budget
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