Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Based on unearned revenue only ( that is , ignore accounts receivable ) , how much more ( or less ) cash did Microsoft collect

Based on unearned revenue only (that is, ignore accounts receivable), how much more (or less) cash did Microsoft collect from customers relative to how much they recognized in revenue? Note: If they collected less, then
\table[[Accounts payable,,,],[Current portion of long-term debt,$,15,163S,12,530],[Accrued compensation,,8,072,3,749],[Short-term income taxes,,10,057,7,874],[Short-term unearned revenue,,2,174,2,130],[Other current liabilities,,41,525,36,000],[Total current liabilities,,11,666,10,027],[Long-term debt,,88,657,72,310],[Long-term income taxes,,50,074,59,578],[Long-term unearned revenue,,27,190,29,432],[Deferred income taxes,,2,616,3,180],[Operating lease liabilities,,198,204],[Other long-term liabilities,,9,629,7,671],[Total liahilifiog,,13,427,10,632],[Iotal liabilities,,191,791,183,007]]
Commitments and contingencies
Stockholders' equity:
\table[[Common stock and paid-in capital - shares authorized 24,000; outstanding 7,519 and 7,571,83,111],[Retained earnings,57,055],[Accumulated other comprehensive income,1,8227],[Total stockholders' equity,141,988],[Total liabilities and stockholders' equity,34,566]]
Item 8
Changes in unearned revenue were as follows:
\table[[{
\table[[Year Ended June 30,2021],[Balance, beginning of period]]}],[],[\table[[Deferral of revenue],[Recognition of unearned revenue]],,\table[[\table[[94,565],[(89,604)
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting Principles And Applications

Authors: Horace R. Brock, Linda Herrington

6th Edition

0028034287, 978-0028034287

More Books

Students also viewed these Accounting questions