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larisa [96]
4 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]4 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.

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Which of the following refers to the balance an account is always supposed to have?
kirza4 [7]

Answer:

Normal balance

Explanation:

Accounts are expected to have either debit or credit balance, depending on their classification. The accounting equation of Assets is equal to equity plus liabilities is the basis for account classification.  Assets accounts are on one side, while accounts relating to equity and liabilities are on the other.

Accounts have normal balances if the balances at the end of a period are as expected. Assets accounts are expected to have debit balances, while equity and liabilities accounts should have credit balances.

3 0
3 years ago
Which of the following would not involve a capital-budgeting analysis?
JulijaS [17]

Answer:

The correct answer is B. The adoption of a new cost driver for overhead application.  

Explanation:

This option is chosen because it is not directly related to organizational capital, or the production of goods or the provision of services. Otherwise it happens with options A and C, which does merit an analysis of the capital budget.

Option B is only taken into account in the analysis of the sales budget or production costs.

7 0
3 years ago
Question 9 of 20
inna [77]

Answer: C. An estimate that offers to provide goods and services at a

specified price and sometimes by a specified date

Explanation:

is the correct answer

4 0
3 years ago
You should complete job applications in pencil so you can erase your mistakes.
Anna11 [10]

Answer: Yes

Explanation:

8 0
3 years ago
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Amira is managing the development of a reference book. She is in New York. Her lead writer is in California, and her fact-checki
vampirchik [111]

Answer:

Electronic-discussion channel

Explanation:

Since the various arms involved in the development of the reference book are country apart, the best way fro every to communicate is through and electronic channel because it is very cost saving considering the fact that the project is under a tight budget.

An electronic-discussion channel could be through electronic messaging apps or any other channels which gives each party involved the means to contribute at the same time and help communicate the progress or lack of it in the development of the reference book.

cheers.

5 0
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