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
larisa [96]
3 years ago
11

Ramsey Company typically sells subscriptions on an annual basis, and publishes six times a year. The magazine sells 60,000 subsc

riptions in January at $10 each. What entry is made in January to record the sale of the subscriptions?
a. Subscriptions Receivable 600,000
Subscription Revenue 600,000
b. Cash 600,000
Unearned Subscription Revenue 600,000
c. Subscriptions Receivable 100,000
Unearned Subscription Revenue 100,000
d. Prepaid Subscriptions 600,000
Cash 600,000
Business
1 answer:
Alexxandr [17]3 years ago
8 0

Answer:

The correct answer is B

Explanation:

The journal entry to record the sale of the subscription is as:

Cash A/c.............................................................Dr       $600,000

   To Unearned Subscription Revenue A/c..........Cr      $600,000

As company made a sale of the subscription, so cash is received from sale therefore any increase in asset is debited. So, the cash account is debited. And the unearned subscription revenue is credited because cash is received against subscription sale.

You might be interested in
What is the economic term used for sustained increase in the price of goods and services
Shkiper50 [21]

Answer:

Inflation

Explanation:

Inflation refers to a situation of a general increase in the prices of goods and services in the economy. As prices of goods and services rise, the cost of living goes up. Inflation results in the purchasing power of currency to diminish.    

Economist uses the consumer prices index to determine the rate of inflation. Inflation means a basket of goods and services will cost more today than it did in the prior period. Rapid economic growth that results in too much money in circulation causes inflation.

3 0
3 years ago
You wish to sell short 100 shares of XYZ corporation stock. If the last two transactions were at $34.10 followed by $34.15, you
yan [13]

Answer: b. 34.15 or higher

Explanation:

Short sales refer to the sale of borrowed stocks in anticipation that the stock price of the underlying stock will fall. This will then enable you to make a profit by buying the cheaper shares and giving it back to the entity you borrowed from thereby making a profit.

With short sales, the price is usually upward trending so will normally increase from the last price. As the last price here was $34.15, that would be the likely minimum for the next sale.

This means that the next sale will either be at a price of $34.15 or a price higher than that.

6 0
3 years ago
Under what condition will a monopoly firm incur losses?
Readme [11.4K]
<span>A monopoly would have to make it so the marginal revenue is less than the marginal cost, and in return, the monopoly would end up losing money instead of gaining money. This means that they are spending more money than they are making.</span>
3 0
3 years ago
A demand for a product or resource because of its contribution to the final product is called
tino4ka555 [31]

Answer:

Derived demand

Explanation:

Derived demand occurs when a good is requested not for benefits they directly provide, but for their contribution to another product.

For example capital, land, labour, and raw materials are demanded for their role in producing a final product.

So they can be seen as goods that have derived demand.

When they demand for the final product increases the good that has derived demand also increases, and vice versa.

8 0
3 years ago
Based on what you have read, what is the opportunity
Crazy boy [7]

Answer:a higher quality item

Explanation:

A higher quality them

5 0
3 years ago
Other questions:
  • Moreno Motors Inc. identifies that bikers are usually the first users of their newly launched products. The firm sends consultan
    15·1 answer
  • At the present time, Perpetualcold Refrigeration Company (PRC) has 10-year noncallable bonds with a face value of $1,000 that ar
    5·1 answer
  • Scenario 15-6 The concert promoters of a heavy-metal band, WeR2Loud, know that there are two types of concert-goers: die-hard fa
    15·1 answer
  • Air used for cleaning should be regulated to ____ psi unless equipped with OSHA-compliant diffuser nozzles.
    11·1 answer
  • The product _____ is a theoretical model that includes the stages of introduction, growth, maturity, and decline.
    5·1 answer
  • The new classical critique of activist fiscal policy is theoretically different from the crowding-out critique. Crowding-out occ
    6·1 answer
  • Linger Products uses a two-stage allocation method to assign costs to its products. The following information has been provided
    8·1 answer
  • PLS HELP QUICK<br> I’LL MARK BRAINLIEST
    5·2 answers
  • Fong Sai-Yuk Company sells one product. Presented below is information for January for Fong Sai-Yuk Company.
    13·1 answer
  • an example of an explicit cost of production would be the group of answer choices lost opportunity to invest in capital markets
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!