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yulyashka [42]
3 years ago
6

Better Publications sold annual subscriptions to their magazine for $42,000 in December, 2016. The magazine is published monthly

. The new subscribers received their first magazine in January, 2017. What adjustment should be made in January if the subscriptions were originally recorded as a liability?
Business
1 answer:
Amanda [17]3 years ago
7 0

Explanation:

The adjusting entry is as follows

On January 31

Unearned revenue A/c Dr $3,500

     To Magazine subscription  revenue A/c $3,500

(Being the unearned revenue is recorded)

The computation is shown below:

= Sale value of annual subscriptions ÷ total number of months in a year

= $42,000 ÷ 12 months

= $3,500

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TopChop sells hairstyling franchises. TopChop receives $62,000 from a new franchisee for providing initial training, equipment,
Molodets [167]

Answer:

$65,332

Explanation:

The computation of revenue in 2021 is shown below:-

Revenue for the year 2021 = New franchisee received + Received by Top chop × (From July 1 to Aug 1 ÷ 2)

= $62,000 + $40,000 × 1 ÷ 2

= $62,000 + $40,000 × 0.5

= $62,000 + $20,000

= $82,000

Therefore, the revenue recognized for its arrangement is $82,000 and the new franchisee fee instantly recorded as an income

4 0
3 years ago
A company with 100,000 authorized shares of $7 par common stock issued 46,000 shares at $16. Subsequently, the company declared
liq [111]

Answer:

$27,600

Explanation:

Amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend:

= Shares issued * Percentage of stock dividend * Market price

= 46,000 shares * 2% * $30

= 46000*0.02*$30

= $27,600

4 0
3 years ago
What is a misdemeanor?
nasty-shy [4]

Answer:

D

Explanation:

In fact a misdemeanor is less bad than a felony

6 0
3 years ago
A 4-year project has an annual operating cash flow of $53,500. At the beginning of the project, $4,450 in net working capital wa
Angelina_Jolie [31]

Answer:

E. $63,401

Explanation:

gain on disposal = salvage value of plant - book value on date of sale

                            = $5,790 - $4,820

                            = $970

tax on disposal = $970*35%

                          = $339.50

after tax salvage value = $5,790 - $339.50

                                       = $5,450.50

total cash flow in 4 years

= annual operating cash flow + net working capital + after tax salvage value

= $53,500 + $4,450 + $5,450.50

= $63,401

Therefore, The Year 4 cash flow is $63,401.

3 0
3 years ago
A firm's attempts to shorten the length of time a process takes, may lead to disappointing outcomes because of ______.
liraira [26]

A firm's attempts to shorten the length of time a process takes may lead to disappointing outcomes because of time compression diseconomies.

<h3>What are time compression diseconomies?</h3>
  • According to time compression diseconomies, which are defined as inefficiencies that arise when work is done more quickly, the cost of building a competency will rise exponentially as the amount of time permitted to do so decreases.
  • Not every subsidiary deals with time compression diseconomies to the same extent.
  • The date of a later subsidiary formation may affect how strong TCD is. Early-established subsidiaries may have greater TCD than later entries due to two factors.
  • First, for late movers, vicarious learning may lower TCD. Second, TCD is made worse by the higher environmental uncertainty that early mover subsidiaries frequently experience.
  • TCD explains why the well-studied relationship between the level of multi-nationality and business success is negatively moderated by the rate of overseas expansion.

To learn more about Diseconomies refer to:

brainly.com/question/14563017

#SPJ4

4 0
1 year ago
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