Question
1- Jenkins Corp. received $1,800 on November 1 for magazine subscriptions for the next six months. At the end of December, how much subscription revenue
1- Jenkins Corp. received $1,800 on November 1 for magazine subscriptions for the next six months. At the end of December, how much subscription revenue will Jenkins Corp. recognize for the year?
2- Jenkins Corp. received $1,800 on November 1 for magazine subscriptions for the next six months. At the end of December, how much unearned revenue will Jenkins Corp. have on its balance sheet?
3- On October 1, 2018, Hill Company borrows $20,000 from a local bank. The note has an interest rate of 6% and is due in one year. How much interest expense will Hill Company report on its 2018 income statement?
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Corporate Financial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
12th edition
1305041399, 1285078586, 978-1-133-9524, 9781133952428, 978-1305041394, 9781285078588, 1-133-95241-0, 978-1133952411
