Sport Pro Magazine sold 12,000 annual subscriptions on August 1, 2020, for $18 each. Prepare Sport Pros

Question:

Sport Pro Magazine sold 12,000 annual subscriptions on August 1, 2020, for $18 each. Prepare Sport Pro’s August 1, 2020, journal entry and the December 31, 2020, 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:

Related Book For book-img-for-question

Intermediate Accounting

ISBN: 978-1119503668

17th edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfiel

See More Books

Question Posted: Nov 28, 2019 06:28 AM

See More 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 Ltd. sold 12,000 annual subscriptions on August 1, 2011, for $18 each. Prepare Sport Pros August 1, 2011 transaction entry and the December 31, 2011 annual adjusting entry.
Sport Pro Magazine sold 12,000 annual subscriptions of its monthly magazine on August 1, 2020, for 18 each. Prepare Sport Pros August 1, 2020, journal entry and the December 31, 2020, annual...
5. Did Danone follow the advice regarding JVs in China mentioned in the list just above? Which aspects did it follow and which did it not? Danone's Wrangle with Wahaha In 1996, In 1996, Danone Group...
Explain controllable costs and how controllability is related to responsibility accounting.
Cooperton Mining just announced it will cut its dividend from $3.95 to $2.38 per share and use the extra funds to expand. Prior to the announcement, Coopertons dividends were expected to grow at a...
13. Explain the differences and similarities between fringe benefits and salary as forms of compensation.
Jane Marks has a restaurant in which she accepts credit cards and checks. Several of the places that Jane shops now accept debit cards and do not accept checks. Jane's banker explained that a debit...
The Merriweather Co. just announced that it will pay a dividend next year of $1.60 and is establishing a policy whereby the dividend will increase by 3% annually thereafter. How much will one share...
Carla and Scott were married some years ago and have six-year-old twin daughters, Jackie and Kara. In 2015, they divorced. Their divorce decree includes a court order indicating that Carla is to have...
Assume the facts in E13.3 except that Broderick Company has chosen not to accrue paid sick leave until used, and has chosen to accrue vacation time at expected future rates of pay without...
On February 1, 2021, one of the huge storage tanks of Viking Manufacturing exploded. Windows in houses and other buildings within a one-mile radius of the explosion were severely damaged, and a...
An uncontracted, horizontal weir is 1.5 m high and 4.5 m long. Determine the discharge over this weir when the upstream depth is 2.2 m. Determine the weir height if the same discharge was desired...
Show how you would go about balancing the following equations: Cu + HNO3 Cu(NO3)2 + NO + H2O HIO3 + Fel2 + HCI FeCl3 + ICI + H2O 2.Conservation of mass A student places 0.58 g of iron and 1.600 g...
Sales MOSS COMPANY Income Statement For Year Ended December 31, 2021 Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes...
Prior to the Covid-19 epidemic, Master's and Ph.D. programs in psychology required applying students to submit their scores on the standardized graduate admission exam (GRE). For the past three...
Benicio wants to make sure that the Sales table does not contain any duplicate records, which would make any sales analysis incorrect. Identify and remove duplicate records in the Sales table as...
University Car Wash purchased new soap dispensing equipment that cost $261,000 including installation. The company estimates that the equipment will have a residual value of $27,000. University Car...
The apparatus shown in the diagram below was used to investigate the gases produced when a concentrated solution of potassium chloride was electrolysed. a. Name a non-metal suitable for use as...
10m solution. If Ka(HA) = 10 then pOH of solution will be [Given : log4=0.6] (A) 6.7 (B) Greater than 6.7 & less than 7.0 (C) Greater 7.0 & less than 7.3 (D) Greater than 7.3
Comparative statement of financial position accounts of Marcus Inc. are presented below. Additional data (ignoring taxes): 1. Net income for the year was $42,500. 2. Cash dividends declared and paid...
Comparative statement of financial position accounts of Sharpe Company are presented below. Additional data: 1. Equipment that cost $10,000 and was 60% depreciated was sold in 2010. 2. Cash dividends...
Dingel Corporation has contracted with you to prepare a statement of cash flows. The controller has provided the following information. Additional data related to 2010 are as follows. 1. Equipment...
Given that rJ = 6.3%, rRF = 4.1%, and rM = 9.4%, determine the beta coefficient for Stock J that is consistent with equilibrium.
Simon Companys year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 33,019 $ 37,839 $ 38,623 Accounts receivable, net 93,822 65,556 54,152 Merchandise inventory 117,963 89,253...
PLEASE REFER TO THE 2018 ANNUAL REPORT OF STARBUKS FOR THE YEAR FISCAL YR 2018, ENDING SEPTEMBER 30, 2018. Refer to the management discussion & analysis section and write a one page summary...

Sport Pro Magazine sold 12,000 annual subscriptions on August 1, 2020, for $18 each. Prepare Sport Pros

Question:

Step by Step Answer:

8120 Cash 216000 Unearned Subscriptions Rev...View the full answer

Intermediate Accounting

Students also viewed these Business questions