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katrin2010 [14]
4 years ago
15

Cullumber Company Ltd. publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $20 per year. Du

ring November 2017, Cullumber sells 8,400 subscriptions for cash, beginning with the December issue. Cullumber prepares financial statements quarterly and recognizes subscription revenue at the end of the quarter. The company uses the accounts Unearned Subscription Revenue and Subscription Revenue. The company has a December 31 year-end Prepare the entry in November for the receipt of the subscriptions.
Business
1 answer:
Kipish [7]4 years ago
3 0

Answer:

Debit Cash account $16,800

Credit Unearned Subscription Revenue  $16,800

Explanation:

When a fee is received in advance for a service yet to be rendered, the revenue for such fee is said to be unearned. The entries required are

Debit Cash account and Credit Unearned fees or deferred revenue.

As the service is performed and the revenue is earned, debit Unearned fees and credit revenue.

Total amount received

= $20 * 8400

= $16800

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You are writing a proposal to restructure your department's organizational chart. Your manager was a member of the committee tha
Bess [88]

Answer:

a. the purpose of this proposal is to show how we can reorganize our department to improve our efficiency while keeping intact the values that have allowed us to succeed to this point.

Explanation:

If you are writing a restructuring proposal, it means that you have mapped out points that can be improved in your department. However, the organizational structures of firms can rarely be changed drastically. What are usually applicable are the policies for improving processes, so that they become more and more efficient. This applies in general, but especially if you are going to propose changes to a structure that was designed by a superior of yours, who probably has more experience than you. Thus, you must present a restructuring project that identifies points to be improved, that proposes alternatives for improvement, but that maintains the values policy that was instituted by your manager. In this way, your manager will see your contribution as adding value to the structure and your work will be valued.

3 0
4 years ago
Pina Colada Furniture factors $670000 of receivables to Sheffield Factors, Inc. Sheffield Factors assesses a 2% service charge o
Reika [66]

Answer and Explanation:

The journal entry is shown below;

Cash $656,600

Factoring charges (2% of $670,000)  $13,400

            To Trade Receivables $670,000

(Being recording these receivables)

Here cash and factory charges is debited as it increased the assets and expense while the trade receivable is credited as decreased the assets

3 0
3 years ago
When the _____ value of debt is the same as its face value, it is said to be selling at _____ value.
Allushta [10]

Answer:

When the <u>market</u> value of debt is the same as its face value, it is said to be selling at <u>par</u> value.

Explanation:

Face value and par value is same. When market price of the bond is same as the face value of the bond it is said that this debt is trading on its par value. Par or face value is the value on which bond is initially issued and the value mentioned on the face of the bond. So, When the <u>market</u> value of debt is the same as its face value, it is said to be selling at <u>par</u> value.

8 0
3 years ago
Discuss why employees who are committed will be less likely to engage in work withdrawal even if they are dissatisfied.
EastWind [94]

Answer:

Due to organizational loyalty

Explanation:

In simple words, an individual who is committed to their work or organization will still work at his or her best if even if they are not very satisfied with the their current conditions. This is due to the loyalty that they develop over time. These strong feelings somehow force them to give their best and make them realize that this is not a permanent situation and things will change in future.

3 0
3 years ago
Being intellectually alert helps leaders exert influence through logical persuasion. Formal ______ helps a person develop logica
Vera_Pavlovna [14]

Answer:

a. Education

b. Experience

c. Mentoring

Explanation:

a. Formal education is defines as a method of formal and organized learning. This is the education provided to the students by qualified teachers at a certain level. To ensure standardization of formal learning for all institutions of learning for example schools, colleges, universities, etc.

So, Formal education helps a person to develop logical skills.

b. Experience is awareness or ability that you have acquired in a specific job or activity because you have already done the job or activity.

According to the given situation, experience helps a person develop skills and knowledge he or she would not have otherwise.

c. A mentor helps a person learn the skills to achieve his or her destination. or we can say that the "mentor" is an experienced person who shares information, expertise, and guidance with a less experienced person.

So, according to the given situation Manager is coached to Shawn to develop skills so that manager can boost Shawn career. Shawn's Manager is engaged in Mentoring.

6 0
3 years ago
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