Sport Pro Magazine sold 12,000 annual subscriptions on August 1, 2023, for $18 each. Prepare Sport Pros
Question:
Sport Pro Magazine sold 12,000 annual subscriptions on August 1, 2023, for $18 each. Prepare Sport Pro’s August 1, 2023 journal entry and the December 31, 2023 annual adjusting entry, assuming the magazines are published and delivered monthly.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (4 reviews)
Aug 1 Cash 12000 X 18 Un...View the full answer
Answered By
Joseph Mwaura
I have been teaching college students in various subjects for 9 years now. Besides, I have been tutoring online with several tutoring companies from 2010 to date. The 9 years of experience as a tutor has enabled me to develop multiple tutoring skills and see thousands of students excel in their education and in life after school which gives me much pleasure. I have assisted students in essay writing and in doing academic research and this has helped me be well versed with the various writing styles such as APA, MLA, Chicago/ Turabian, Harvard. I am always ready to handle work at any hour and in any way as students specify. In my tutoring journey, excellence has always been my guiding standard.
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Intermediate Accounting Volume 2
ISBN: 9781119740445
13th Canadian Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
Question Posted:
Students also viewed these Business questions
-
Sport Pro Magazine sold 12,000 annual subscriptions on August 1, 2017 for $18 each. Prepare Sport Pro's August 1, 2017 journal entry and the December 31, 2017 annual adjusting entry, assuming the...
-
Sport Pro Magazine sold 12,000 annual subscriptions on August 1, 2019, for 18 each. Prepare Sport Pro's August 1, 2019, journal entry and the December 31, 2019, annual adjusting entry.
-
Sport Pro Magazine sold 12,000 annual subscriptions on August 1, 2020, for $18 each. Prepare Sport Pros August 1, 2020, journal entry and the December 31, 2020, annual adjusting entry, assuming the...
-
What are two important limitations of the Heckscher- Ohlin theory?
-
Richie Manufacturing had underapplied overhead of $42,000 in 20X0. Before adjusting for overapplied or underapplied overhead, the ending inventories for direct materials, WIP, and finished goods were...
-
Refer to question 20 at the end of Chapter 2. Implement a spreadsheet model for this problem and solve it using Solver.
-
Explain the positive classification criterion.
-
The following data were summarized from the accounting records for DeSalvo Construction Company for the year ended June 30, 2010: Prepare divisional income statements for DeSalvo Construction...
-
Listed Below are items of Carl Craft, DDS, ledger for the month of September 2019. Carl Craft, Capital, September 1 $40,000 Accounts payable 7,000 Equipment 30,000 Service revenue 24,000 Carl Craft,...
-
Situation 1: Marquart Stamp Corporation records stamp service revenue and provides for the cost of redemptions in the year stamps are sold to licensees. The stamps can be collected and then redeemed...
-
Moleski Limited, a private company following ASPE, includes one coupon in each box of soap powder that it produces, and 10 coupons are redeemable for a premium (a kitchen utensil). In 2023, Moleski...
-
Upon reaching a velocity of 100 fps, the pilot of the airplane in Problem 7 decides to abort the takeoff and applies brakes and stops the airplane in 1000 ft. Find the airplanes deceleration.
-
A large-sized chemical company is considering investing in a project that costs `5,00,000. The estimated salvage value is zero; tax rate is 35 per cent. The company uses straight line method of...
-
From the following budgeted and actual figures, calculate and present the variances in respect of profit on sales and cost of sales. Budget: Sales, 2,000 units @ 15 each Cost of sales @ 12 each...
-
(a) From the following data of a manufacturing unit, find out (i) sales to break-even and (ii) sales to earn a profit of 8,000. (b) The following information is available for companies A and B. (i)...
-
Wowem Corporation manufactures a wide range of clothing apparel. It is a decentralized organization in which different divisions have responsibility for the manufacture and distribution of major...
-
(a) Use a molecular orbital program or input and output from software supplied by your instructor to construct a molecular orbital energy-level diagram to correlate the MO (from the output) and AO...
-
The 2015 comparative statement of financial position and income statement of Goldman Medical Supplies follow: Goldman Medical Supplies had no noncash investing and financing transactions during 2015....
-
A spacecraft has left the earth and is moving toward Mars. An observer on the earth finds that, relative to measurements made when the spacecraft was at rest, its a. length is shorter b. KE is less...
-
The accounting for the items in the numbered list that follows is commonly different for financial reporting purposes than it is for tax purposes: 1. For financial reporting purposes, the...
-
The amount of income taxes that is due to the government for a period of time is rarely the same as the amount of income tax expense that is reported on the income statement for that same period...
-
Henrietta Aguirre, CGA, is the newly hired director of corporate taxation for Mesa Incorporated, which is a publicly traded corporation. Aguirre's first job with Mesa was to review the company's...
-
Product Weight Sales Additional Processing Costs P 300,000 lbs. $ 245,000 $ 200,000 Q 100,000 lbs. 30,000 -0- R 100,000 lbs. 175,000 100,000 If joint costs are allocated based on relative weight of...
-
The projected benefit obligation was $380 million at the beginning of the year. Service cost for the year was $21 million. At the end of the year, pension benefits paid by the trustee were $17...
-
CVP Modeling project The purpose of this project is to give you experience creating a multiproduct profitability analysis that can be used to determine the effects of changing business conditions on...
Study smarter with the SolutionInn App