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Thepotemich [5.8K]
3 years ago
8

Flores Company publishes a monthly sports magazine, Hunting Preview. Subscriptions to the magazine cost $25 per year. During Oct

ober 2017, Flores sells 30,000 subscriptions beginning with the November issue. Flores prepares financial statements quarterly and recognizes subscription revenue earned at the end of the quarter. The company uses the accounts Unearned Subscription Revenue and Subscription Revenue. Collapse question part (a) Prepare the entry in October for the receipt of the subscriptions.
Business
1 answer:
olga nikolaevna [1]3 years ago
7 0

Answer:

(a)Oct. 31

Dr Cash 750,000

Cr Unearned Subscription Revenue 750,000

(b)Dec. 31

Dr Unearned Subscription Revenue 125,000

Cr Subscription Revenue 125,000

(c)Mar. 31

Dr Unearned Subscription Revenue 187,500

Cr Subscription Revenue 187,500

Explanation:

Flores Company Journal entries

(a)Oct. 31

Dr Cash 750,000

Cr Unearned Subscription Revenue(30,000 ×$25) 750,000

(b)Dec. 31

Dr Unearned Subscription Revenue 125,000

Cr Subscription Revenue 125,000

($750,000 ×2/12)

(c)Mar. 31

Dr Unearned Subscription Revenue 187,500

Cr Subscription Revenue 187,500

($750,000 ×3/12)

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Suppose that, with free trade, the world price of the product is $15. what is the value of consumer surplus?
shtirl [24]

Suppose that, with free trade, the world price of the product is $15. The value of consumer surplus will be $697.50

<h3>What is Free Trade?</h3>

Governments impose no tariffs, taxes, or duties on imports or export quotas under free trade. In this sense, free trade is the polar opposite of protectionism, a defensive trade policy aimed at preventing foreign competition.

In practice, governments with generally free-trade policies still impose some controls on imports and exports.

Most industrialized nations, including the United States, negotiate "free trade agreements," or FTAs, with other countries that determine the tariffs, duties, and subsidies that countries can impose on their imports and exports.

Local trade gets the right to see the cutting-edge technologies developed by multinational partners, as well as human expertise.

The aim of business is to maximize profits, whereas the goal of government is to protect its citizens.

Neither unrestricted free trade nor total protectionism can achieve both goals. The best solution has evolved from a combination of the two, as implemented by multinational free trade agreements.

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7 0
1 year ago
The restaurant's total cost is a mixed cost that depends on customers served. The restaurant's management uses the high-low meth
harina [27]

Answer:

$29,390

Explanation:

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Variable cost Per Customer is

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= ($28,934 - $28,241) ÷ (14,100 - 11,214)

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Now

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= 28,934 - (14,100 × 0.24)

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So, the total cost for 16,000 customers is

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7 0
3 years ago
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BigorU [14]

Answer:

The options in the question are not well aligned,find below question with properly aligned options:

A subsistence economy is one that ________.

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b. meets its needs by overfishing lakes and rivers

c. purchases resources for immediate use

d. meets is needs while causing ecosystem destruction

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Hence the correct option is A,meets its needs without working for wages and purchasing necessities  

Explanation:

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