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yKpoI14uk [10]
3 years ago
7

Magazine sells subscriptions for for issues. The company collects cash in advance and then mails out the magazines to subscriber

s each month. Apply the revenue recognition principle to determine a. when Magazine should record revenue for this situation. b. the amount of revenue Magazine should record for issues. a. Seacoast Magazine should record revenue whe
Business
1 answer:
Over [174]3 years ago
8 0

Answer:

a. It should record revenue on a monthly basis

The Revenue Recognition principle in accounting posits that revenue should only be recognized after the goods and services that the revenue was paid for, have been delivered.

Seacoast Magazine has not delivered the magazine and will do so monthly for 18 months. It should therefore apportion profits to those months and only recognize the profit after the magazines are delivered.

b. Amount of revenue for 8 issues:

= 36/ 18 issues * 8 issues

= 2 * 8

= $16

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Northfield Casino is considering converting the Polsky Building at University of Akron into a state-of-the-art gaming parlor. Th
Maurinko [17]

Answer:

d. 3 Years.

Explanation:

Payback period calculates the amount of time it takes to recover the amount invested in a project from its cumulative cash flows.

Payback period = amount invested / cash flow

$75,000,000 / $25,000,000 = 3 years

I hope my answer helps you

4 0
4 years ago
Nichols Inc. is considering a project that has the following cash flow data. What is the project's IRR? Note that a project's IR
cestrela7 [59]

Answer:

a. 9.43%

Explanation:

The internal rate of return is the discount rate that equates the after tax cash flows from an investment to the amount invested.

IRR can be calculated using a financial calculator.

Cash flow in year zero = −$1,250 

Cash flow each year from year one to five = $325

IRR = 9.43%

To find the IRR using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the IRR button and then press the compute button.

I hope my answer helps you

3 0
4 years ago
In Herzberg’s two-factor theory, ____________________ are things such as challenging work assignments, accomplishment and person
ExtremeBDS [4]
There are hygiene factors
4 0
3 years ago
What are the subjects of economics
Irina-Kira [14]

Answer:

Econometrics.

Economic policy.

Legal studies.

Money and banking.

Global finance.

Economic history.

International trade.

Collective decisions.

Explanation:

I believe this is what you are asking for. Hope this is helpful :).

5 0
4 years ago
Under the perpetual inventory system, in addition to making the entry to record a sale, a company would debit Inventory and cred
marshall27 [118]

Answer:

The journal entry is shown below:

Explanation:

The journal entry for the sale of the goods using the system of perpetual inventory is shown below:

Cost of Goods sold A/c.............................Dr   XXXX

               Inventory A/c........................................Cr XXXX

Being record the sale using perpetual inventory system

Under the system of perpetual inventory, the sale or the purchase of inventory is recorded immediately using the point of sale system.

So, account of Cost of goods sold (COGS) is debited against the inventory which is sold through the business and that is credited.

5 0
3 years ago
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