User Account

All Pages

Determining income statement for subscriptions revenue

Assignment Help Accounting Basics
Reference no: EM13149051

In November and December 2007, ABC Company received $75,000 for 1,000 three-year subscriptions at $25 per year starting with the January 2008 issue. What amount should ABC report in its 2007 income statement for Subscriptions Revenue

Reference no: EM13149051

Questions Cloud

Probability that selected student is a liberal arts major : A student is selected at random to represent the school at a conference. The probability that the selected student is a liberal arts major is what?
Discuss the advantages and disadvantages of hydrogenation : Describe the process of fat hydrogenation and discuss the advantages and disadvantages of hydrogenation.
Show the calculation for the percent yield : show the calculation for the percent yield of K3[Fe(C2O4)3].3H2O using your actual yield and the theoretical yield
What can a manager do to overcome this problem : When a worker announces that she plans to quit, say next month, the threat of being fired is generally not credible. The worker may find it in her interest to shirk. What can a manager do to overcome this problem?
Determining income statement for subscriptions revenue : In November and December 2007, ABC Company received $75,000 for 1,000 three-year subscriptions at $25 per year starting with the January 2008 issue. What amount should ABC report in its 2007 income statement for Subscriptions Revenue
Probability that lot of ten percent defective be accepted : If 3 or fewer are defective, the lot is accepted. Based upon their sampling plan, what is the probability that a lot of 10 percent defective will be accepted?
Paid-in capital at the end : Poodle Corporation was organized on January 3, 2011. The firm was authorized to issue 100,000 shares of $5 par common stock. During 2011, Poodle had the following transactions relating to shareholders' equity:
When an incumbent maintains a price below the monopoly price : When an incumbent maintains a price below the monopoly price in order to prevent entry. The act of charging a low price initially upon entering a market to gain market share.
Firm predetermined overhead rate : Calculate the firm's predetermined overhead rate for the year. Prepare journal entries to record the events described above.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determining new pcaob reporting requirements

Examine different types of organizational illegal activities, including cybercrimes and the impact to the organization. Use technology and information resources to research issues in forensic accounting.

  Fasb-current assets-prepaid expenses

What is the formal definition in the glossary of the term "Current Assets?" Provide one drill-down reference from the Master Glossary for where the term "Current Assets" is used in the Codification.

  Financial statements for the current year

During the current year, the Yankton Company purchased 200 shares of in the Sorros Company for $13,000 as a temporary investment. At the end of the year, the market value of the stock was $11,000. The Yankton Company's financial statements for the..

  Performance reporting-flexible budgeting

Analyze the budget variance by calculating the direct labor efficiency and rate variances for June. What alternatives to the preceding monthly report could improve control over the stamping department's direct labor?

  What conclusion can be drawn from the calculations

Trade Credit Discount. Compute the annual approximate interest cost of not taking a discount using the following scenarios. What conclusion can be drawn from the calculations?

  Convergence of ifrs and us gaap

Discuss the efforts made toward convergence of International Financial Reporting Standards (IFRS) and U.S. Generally Accepted Accounting Principles (GAAP) on the financial performance reporting by business enterprises.

  Find out the tax consequences

Put in holding company in exchange for 1 million in p/s and 800,000 in debt, what are the tax consequences?

  Computing and interpreting return on investment

Compute the rate of return for each division using the return on investment (ROI) formula stated in terms of margin and turnover. Which divisional manager seems to be doing the better job? Why?

  Calculate the contribution margin for each product

Calculate breakeven volume in total dollars if the sales mix is 2 units of X for every 3 units of Y.

  Operating section of the statement of cash flows

Under IFRS, the following is true of the operating section of the statement of cash flows:

  Prepare adjusting entries of welch rental agency

Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are: Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expense.

  Diverting of company assetts to personal use

You have been employed as an entry level management accountant for a little under a year. you suspect that your immediate supervisor is involved in asignificant fraud involving diverting of company assetts to personal use.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd