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madam [21]
3 years ago
14

​Wellness, a healthy living​ magazine, collected in subscription revenue on May 31. Each subscriber will receive an issue of the

magazine in each of the next 12​ months, beginning with the June issue. The company uses the accrual method of accounting. What is the balance in the Unearned Revenue account as of December​ 31?
Business
1 answer:
PIT_PIT [208]3 years ago
7 0

Answer: $220,000

Explanation:

Using the Accrual Method of Accounting means that revenue is only to be recorded when it is earned i.e. when services have been delivered.

Any revenue received when the services have not been delivered will be recorded as Unearned Revenue.

With $528,000 in subscription revenue, the monthly subscription is;

= 528,000/12

= $44,000

From June to December would be 7 months so they would have earned;

= 44,000 * 7

= $308,000

The amount that they have not earned but have received would therefore be;

= 528,000 - 308,000

= $220,000

<em>This amount will be recorded after they finish deliveries of magazines in next year May. </em>

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Jane is an employee of Tyco, Inc. and she is in charge of payroll. Every week she issues a check in the name of a fictitious emp
KengaRu [80]

Answer:

b. Tyco is liable because it authorized Jane to issue payroll checks.

Explanation:

There is the company responsibility to put the right person for the specific job. Here in the given situation Jane would not be a liable person for an vital position of the company. in the case when the fraud done by the employee so the firm would be liable as the company provide the authorization to the person who have to perform that job

Therefore, the option b is correct

4 0
3 years ago
5. Imagine you are buying a new guitar. Describe how you would make the purchase using the
Sholpan [36]

Answer:

What I would do is make sure it is a good quality item and see if it is worth my money after that I would go to the cashier and buy my product.

Explanation:

4 0
3 years ago
You own a portfolio that has $1,600 invested in Stock A and $2,700 invested in Stock B. Assume the expected returns on these sto
Rina8888 [55]

Answer:

the expected return on the portfolio is 14.77%

Explanation:

The computation of the expected return on the portfolio is shown below:

The expected return is

= ($1,600 ÷ $4,300) × 11% + ($2,700 ÷ $4,300) × 17%

= 14.767 %

= 14.77%

The $4,300 comes from

= $1,600 + $2,700

= $4,300

hence, the expected return on the portfolio is 14.77%

The same is considered

3 0
3 years ago
The major consideration when considering lettering on a presentation aid should be how fancy and expensive it looks.
Brut [27]
<span>This depends on the audience as well as the presenter and if it is a formal or informal presentation. The age of the audience would play a role in the visual art of the presentation. There are many stipulations that would play a role in this.</span>
3 0
3 years ago
During the​ year, credit sales amounted to​ $800,000. Cash collected on credit sales amounted to​ $780,000, and​ $16,000 has bee
Monica [59]

Answer:

Bad debt expense = $28000

Ending balance = $4000

Explanation:

given data

Credit sales= $800000

Cash collection = $780,000

Write off = $16,000

rate = 3.5 %

to find out

ending balance of Accounts Receivable is​

solution

first we get Bad debt expense that is express as

Bad debt expense = 800000 × 3.5%

Bad debt expense = $28000

and

Ending balance is express as

Ending balance = Credit sales - Cash collection - Write off     ..............1

put here value

Ending balance = $800000  - $780,000 - $16,000

Ending balance = $4000

7 0
3 years ago
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