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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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Select all that apply On December 1, Christy Co. accepted a 60-day, 6%, $1,000 note due January 30. On December 31, the appropri
kykrilka [37]

Answer:

Notes Receivable for $1,000. Cash for $1,010. Interest Revenue for $5.  Interest Receivable for $5.

Explanation:

The journal entry to record the receipt of the payment is shown below:

Cash Dr $1,010

     To Interest receivable  $5 ($1,000 ×6% × 30 days ÷ 360 days)

     To Interest revenue $5

     To Note receivable $1,000

(being the receipts is recorded)

here cash is debited as it increased the assets and credited the interest receivable, interest revenue and note receivable as it increased the assets and revenue accounts

6 0
3 years ago
"If a real estate professional says to a potential seller that the neighborhood is ""changing"" and ""isn't what it used to be,"
Marat540 [252]

Answer: True

Explanation: Blockbusting refers to the techniques used by the real agents in America. In general the agents and the builders use this for white house owners. The agents while using this, tries the owners that the racial communities are moving to the neighborhood and it would not be safe for them.

In simple words, they use the perception of racism so that they can get the property at relatively cheaper prices.

Thus, from the above we can conclude that the given statement is true.

5 0
3 years ago
A developer buys the last five vacant lots in a subdivision and constructs a large, expensive home on each lot. The homes sell f
Mashutka [201]

Answer:

Progression

Explanation:

Progression in real estate occurs when the property in a given area improves in value as a result of more expensive property bring built in the area.

This is one major way real estate appreciates in value. Some property owners wait for others to develop the area and naturally their own property appreciates in value.

In this scenario the developer buys the last five vacant lots in a subdivision and constructs a large, expensive home on each lot. The homes sell for what are record-setting high prices for the area.

8 0
3 years ago
Your portfolio has a beta of 1.28. The portfolio consists of 25 percent U.S. Treasury bills, 31 percent Stock A, and 44 percent
Ivanshal [37]

Answer:

2.21

Explanation:

Portfolio beta = Respective beta*Respective weight

<em>Beta of market=1;Beta of risk-free assets=0</em>

1.28 = (0.25*0) + (0.31*1) + (0.44*Beta of Stock B)

1.28 = 0 + 0.31 + 0.44*Beta of Stock B

1.28 - 0.31 = 0.44*Beta of Stock B

Beta of Stock B = 0.97/0.44

Beta of Stock B = 2.204545454545455

Beta of Stock B = 2.21

7 0
3 years ago
Three individuals, Mary, Jack and Helen, make up the total demand for donuts per month in a particular market.
Paraphin [41]

The market demand curve would be 1000 - 0.125Q.

<h3>How to calculate the demand curve?</h3>

It should be noted that the market demand curve will be the sum of the individual demand curve.

The market demand curve will be calculated thus. Mary’s demand curve is 5P = 5000 – 1.25QM. Here, p = 1000 - 0.25QM

Jack’s demand curve for donuts is given by P = 1000 – 0.5QJ. Helen’s demand curve is given by QH = 2000 – 2P. This will be P = 1000 - 0.5QH.

The slope will be:

= 0.5 × 0.25

= 0.15

The demand function of Jack and Helen are the same. The demand curve will be 1000 - 0.125Q.

Learn more about demand on:

brainly.com/question/1245771

#SPJ1

5 0
2 years ago
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