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Guyer company publishes a monthly sports magazine, fishing preview. Subscriptions to the magazine cost $20 per year. During november 2010, Guyer sells 12,000 subscriptions beginning with the December issue. Guyer prepares financial statements quarterly and recognizes subscription revenue earned at the end of the quarter. The company uses the accounts unearned subscriptions and subscription revenue.
Prepare the entry in November for the receipt of the subscription.Nov 30Prepare the adjusting entry at december 31,2010, to record subscription revenue earned in december 2010.
Dec 31Prepare the adjusting entry at March 31,2011, to record subscription revenue earned in the first quarter of 2011.
lasting impressions company lasting impressions li company is a medium-sized commercial printer of promotional
Hodge Inc. has some material that originally cost $74,600. The material has a scrap value of $57,400 as is, but if reworked at a cost of $1,500, it could be sold for $54,500.
during the current year the harlow corporation which specializes in commercial construction has the following property
on june 8, alton co. issued an 80,000, 6%, 120 day note payable to seller co. assume that the fiscal year seller co ends june 30. using the 360 day year in your calculations, what is the amount of interest revenue recognized by seller in following..
at the beginning of the current season on april 1 the ledger of flint hills pro shop showed cash 2500 inventory 3500
Franklin Company has the following four items in its ending inventory as of December 31, 2012. The company uses the lower-of-cost-or-net realizable value approach for inventory valuation following IFRS.
briefly describe at least two it audit objectives for transaction processing system and two specific audit process for
rachel ray recently opened her own basket weaving studio. she sells finished baskets in addition to the raw materials
May return the computers and avoid paying for them because the contract was void under the theory of commercial impracticability.
residence suites operates a regional hotel chain. each hotel is operated by a manager and an assistant
the purchasing agent of the clampett company ordered materials of lower quality in an effort to economize on price and
Select an Initial Public Offering (or a Secondary Offering) completed in the last 10 years in U.S. capital markets, and discuss and analyze this IPO in 7-8 pages, double-spaced.
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