Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

help with this please (6c) notice i already have parts A and B answered. I just need part C. Ivanhoe Company Ltd publishes a monthly

help with this please (6c)
notice i already have parts A and B answered. I just need part C. image text in transcribed
image text in transcribed
image text in transcribed
Ivanhoe Company Ltd publishes a monthly sports magazine, Fishing Previcw, Subscriptions to the magazine cost $28 per year, During November 2025, Ivanhoe sells 6,000 subscriptions for cash, beginning with the December issue. Ivanhoe prepares financial statements quarterly and recognizes subscription rewenue at the end of the cuarter. The company uses the accounts Unearned Subscription Revenue and Subscription Revenue, The company has a December 31 year-end. (a) Prepare the entry in November for the receipt of the subscriptions. (List all debit entries before credit entries. Credit occount tities are automatically indented when amount is entered. Do not indent monually. If no entry is required, select "No Entry" for the account tities and enter ofor the amounts) Prepare the adjusting entry at December 31, 2025, to record subscription revenue in December 2025. (List oll debit entries before credit entries, Credtt occount titfes ore outomatically indented when amount is entered. Do not indent mantally, If no entry ts required, select "No Entry" for the account titles and enter O for the amounts.) Prepare the adjusting entry at March 31, 2026, to record subscription revenue in the first quarter of 2026. (1.ist all debit entries before credit entries. Credit account titles are automatically indented when amount is entered, Do not indent manually if no entry is required, select "No Entry" for the account titles and enter O for the amounts)

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

Mathematics Of Finance

Authors: Petr Zima

2nd Edition

0070082030, 9780070082038

More Books

Students also viewed these Accounting questions

Question

What proactive strategies might you develop?

Answered: 1 week ago

Question

How does your message use verbal communication?

Answered: 1 week ago