1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Genrish500 [490]
3 years ago
10

On april 1, griffith publishing company received $1,548 from santa fe, inc. for 36-month subscriptions to several different maga

zines. the company credited unearned fees for the amount received and the subscriptions started immediately. what is the adjusting entry that should be recorded by griffith publishing company on december 31 of the first year
Business
1 answer:
Fudgin [204]3 years ago
3 0
Given:
April 1 - <span>Griffith publishing company received $1,548 from Santa Fe, inc. for 36-month subscriptions.
</span><span>
1,548 / 36 months = 43 per month.

Assuming that the amount is paid in cash.
       
                               Debit                  Credit
April 1:                       
Cash                     1,548
     Unearned Revenue                     1,548

April 30:
Unearned Revenue   43
      Revenue Fees                                 43

May 31:
Unearned Revenue    43
      Revenue Fees                                 43

June 30:
Unearned Revenue    43                
      Revenue Fees                                 43

</span>July 31
Unearned Revenue   43
      Revenue Fees                                 43

August 31:
Unearned Revenue    43
      Revenue Fees                                 43

September 30:
Unearned Revenue    43                
      Revenue Fees                                 4<span>3
</span>
October 31:
Unearned Revenue   43
      Revenue Fees                                 43

November 30:
Unearned Revenue    43
      Revenue Fees                                 43

December 31:
Unearned Revenue    43                
      Revenue Fees                                 4<span>3
</span>
Book Value of Unearned Revenue is: 1,548 - (43*9) = 1,548 - 387 = 1,161

Since it is a monthly subscription, the unearned revenue must always have an adjusting entry at the end of the month because Griffith company has already earned some of the prepaid fees. 
You might be interested in
At the end of 2011 Mardle Inc. reported retained earnings of $1,504 . At the end of 2012, the retained earnings were $4,863 . If
fenix001 [56]
Mardle paid $8937 in 2012
8 0
3 years ago
Yellowday Energy’s margin was 3% and turnover was 4.0 on sales of $50 million for the year. ROI for the year was:______
Firlakuza [10]

Answer:c. 12.0%

Explanation:Return on Investment (ROI) is a measure used by firms in order to determine how effective an investment is in terms of gains from its proceeds when compared to the amount invested .

Given

Yellowday Energy margin as 3%

turnover= 4.0 and sales as $50million,

we can calculate the ROI,Return on Investment , as the Profit margin multiplied by turnover

ROI = Profit Margin  x Turnover

  = 3% x 4.0

    = 0.03 x  4.0

     =0.12

0.12 x 100

= 12.0%  

4 0
3 years ago
Read the section of the article named "Duties."
Elden [556K]

Answer:

Advertising managers work to make customer's interested in a companies product.

Explanation:

Advertising Managers are in charge of the advertising aspect of a company as they direct the advertising team.

They oversee their affairs, give projects, supervise and evaluate.

Therefore, their job is to get customers interested in the product of the company.

4 0
3 years ago
Read 2 more answers
When producers would have been willing to accept lower prices at various quantities produced than the market clearing price, the
krek1111 [17]
<span>When producers would have been willing to accept lower prices at various quantities produced than the market clearing price, the differences are called?</span><span>
PRODUCER SURPLUSE</span>
8 0
3 years ago
Which is not an effective principle for preparing main points? A. Balance the amount of time given to each main point B. Make su
guajiro [1.7K]

Answer:

B. Make sure each main point is brief

Explanation:

Based on the answers provided within the question it can be said that answer that is not an effective principle for preparing main points is making sure each main point is brief. Main points need to be emphasized and thoroughly detailed as they are the most important aspects in a presentation. Only the subtopics may be made brief.

5 0
3 years ago
Read 2 more answers
Other questions:
  • To be effective as a successful general manager of a hotel, the manager should exhibit all of the following traits except: Group
    7·1 answer
  • vWhat are the most likely consumer market segments for robots? Which consumer characteristics would be important to determine th
    6·1 answer
  • Jeep recognizes that it has some customers who like roomy suvs, while others like more compact versions. it also has customers w
    8·1 answer
  • A __________________________ policy will cause a greater share of income to be collected from those with high incomes than from
    11·1 answer
  • Expected cash dividends are $4.00, the dividend yield is 8%, flotation costs are 6% of price, and the growth rate is 5%. Compute
    9·1 answer
  • Over the last ten years productivity grew faster in Oceania than in Freedonia and the population and total hours worked remained
    14·1 answer
  • An employer will do a 50% match on your investment to a 401k retirement plan. If you decide to contribute a monthly amount of $2
    8·1 answer
  • In which year did gross national product first exceed $11 trillion?
    15·1 answer
  • What would you like to be when you grow up?
    11·1 answer
  • which of the following is not typically involved in rescheduling activities of a troubled sovereign loan? group of answer choice
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!