13. Soahar Company publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $20 per year. During November 2012, Sergio sells 12,000 subscriptions beginning with the December issue. Sohar Company 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. Instructions: (a) Prepare the entry in November for the receipt of the subscriptions. (b) Prepare the adjusting entry at December 31, 2012, to record subscription revenue earned in December 2012. 1. Jafana is appointed purchase officer in a top multinational company in Muscat. She is considering to start her own business now and she is looking at different options. To open her own practice, Jafana would have to quit her current luxurious job, where she is earning an annual salary of OMR 156,250. After starting her own business, she expects to earn OMR 250,000 per year as it gets going. There are some expenses associated with running own business. She would need an office and team members to run the office affairs. She has found the perfect office, which rents for OMR 72,500 per year. The salary for team could cost him for OMR 43,750 per year. Required a. What is accounting profit? b. What is economic profit? c. If these figures are accurate, would Jafana new adventure is be profitable or not? The manager the Meant Dharmanantial annidentally inment of 10 bile