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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.

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20. Which of the following is correct? a) A company’s book value reflects the company’s history of equity investment and retaine
diamong [38]

Answer:

a. A company's book value reflects the company's history of equity investment and retained earnings; a company's market value reflects investor's view of the company's future earning prospects.

Explanation:

The book value of a company is the residual equity and retained earnings after all liabilities paid. Market value is the view of investor's about the company and is what the company would be worth if it were to be sold.

7 0
3 years ago
Read 2 more answers
In the long run, the economic profits for a monopolistically competitive firm will be rev: 05_15_2018 Multiple Choice the same a
Gwar [14]

Answer:

The correct answer is same as the profits of a purely competitive firm.

Explanation:

A monopolistic market is characterized by a large number of sellers producing differentiated products which are close substitutes. This market has a relatively easier entry as compared to a monopoly market.  

In the long-run when a monopolistic firm will be earning a positive profit. It will attract other firms to join the market. As new firms enter the market, the market supply will increase. A rightward shift in the market supply curve will cause the price level to decline. This will continue till all the profits decline to zero.

So, similar to a purely competitive firm, a monopolistic firm also earn zero economic profit in the long run.

8 0
3 years ago
Which areas of skill and knowledge are part of the study of marketing?
Irina18 [472]
1. Critical Thinking
2. Project Management
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4. Holistic Approach
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6 0
3 years ago
What is Forensic Science to you in one paragraph?
oksano4ka [1.4K]

Answer:

Forensic Science is basically a critical element of criminal justice ( means that it's on the criminal side ). It's a process of examining and analyzing evidence that is from a crime scene or somewhere else. Also assist in the investigation and prosecution of perpetrators of crime or absolve an innocent person from suspicion.

7 0
2 years ago
When were merchant banks first established as a service to the public?
shepuryov [24]
Hello,

The answer is option D (or 4) "<span>The 19th century".

Reason:

In the 19th century merchants made there first banks which was put as a service to the public. Banks were made in order people could keep there money somewhere safe besides there homes. Its not option A because the middle age was mainly about power and knights therefore they keep there money in something called a treasure room. Its not option B because the 17th century was when are country was still developing therefore did not have any banks available to the public. Its also not option C because was when the Great War was which was 1819 so therefore the country was still developing.

If you need anymore help feel free to ask me!

Hope this helps!

~Nonportrit</span>
4 0
3 years ago
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