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
katrin2010 [14]
3 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]3 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

You might be interested in
In calculating earnings per share, companies deduct preferred dividends from net income if:
Savatey [412]

Answer: Option B

Explanation: Earnings per share is calculated by dividing net income available to common shareholders with the weighted average number of shares.

Deduction of preferred dividends from net income is done only when dividends are declared by the entity, otherwise not. Preference shareholders have priority over common shareholders in case of dividends, so it will result in reduction of earnings to common shareholders but only when the dividends are declared and distributed.

7 0
3 years ago
Dennis Galvan works as a campaigner at Green Earth, an environmental organization. Every month, his organization arranges a team
mote1985 [20]

Answer:

social environment

Explanation:

The activities performed as mentioned in the problem is termed as employee engagement activities. Reason behind doing this to increase social interaction which generates understanding between employee. it strengthen social and emotional connection of people and hence employee feel more satisfied towards their work and organization. This is done via increases healthy social engagement and hence social environment is correct answer

7 0
3 years ago
Which of the following statements about the graph are true? Select all that apply.
MrMuchimi

Answer:

Explanation:

Tanya

8 0
3 years ago
The XYZ Corporation pays no cash dividends currently and is not expected to for the next five years. Its latest EPS was $18.00,
stellarik [79]

Answer:

current intrinsic value per stock = $26.35

Explanation:

year                      dividend              EPS

0                              0                       $18

1                               0                       $20.88

2                              0                       $24.22

3                              0                       $28.10

4                              0                       $32.59

5                              0                       $37.81

6                              $12.59              $41.97

growth rate up to year 5 = 16%

ROE growth rate starting year 6 = 11%

dividend growth rate starting year 6 = 11% x (1 - 30%) = 7.7%

cost of equity = 24%

horizon value at year 5 = $12.59 / (24% - 7.7%) = $77.24

current intrinsic value per stock = $77.24 / 1.24%⁵ = $26.35

4 0
3 years ago
In macroland potential gdp equals $20 billion and real gdp equals $19.2 billion. macroland has a(n) ______ gap equal to ______ p
Jet001 [13]
Potential GDP = $20 
Real GDP =$19.2  
so an output gap is measured relative to potential output and it is calculated according to the formula [( X - Y ) Ă· Y] Ă—100. In this case, the output gap is [($10 billion - $8 billion) Ă· $8 billion] Ă—100 = 25%.
6 0
3 years ago
Other questions:
  • Interstate 4 (i-4) and state road 408 are two major highways that affect traffic flows in orlando. motorists are not required to
    11·1 answer
  • The current ratio includes at the of the following except :
    11·2 answers
  • In a lean system, work-in-process inventory is reduced to reveal production problems, which can then be
    10·1 answer
  • Why are free market economies able to grow?
    14·1 answer
  • Barnes Company reports the following operating results for the month of August: sales $305,000 (units 5,000); variable costs $21
    5·1 answer
  • Green Cabinets is a custom cabinet builder. They recently completed a set of kitchen cabinets (Job Number 1478), as summarized b
    12·1 answer
  • A city levies property taxes of $500,000 for its General Fund for a year and expects to collect all except the estimated uncolle
    10·1 answer
  • Cost of Debt. Micro Spinoffs Inc. issued 20-year debt a year ago at par value with a coupon rate of 8%, paid annually. Today, th
    13·1 answer
  • Palmer Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an ann
    11·1 answer
  • Why do you think<br> Relationship skills are<br> important when you own a<br> business?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!