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Required information E10-6 (Algo) Determining and Recording the Financial Statement Effects of Deferred Revenue [LO 10-2] [The following information applies to the questions displayed
Required information E10-6 (Algo) Determining and Recording the Financial Statement Effects of Deferred Revenue [LO 10-2] [The following information applies to the questions displayed below.) The Riesen Publishers (TRP) is a publisher of magazines. Its accounting policy for subscriptions follows: Revenues Revenues from our magazine subscription services are deferred initially and later recognized as revenue as subscription services are provided. Assume TRP (a) collected $630 million in 2021 for magazines that will be distributed later in 2021 and 2022, (b) provided $309 million of services on these subscriptions in 2021, and (c) provided $321 million of services on these subscriptions in 2022. E10-6 (Algo) Part 1 Required: 1. Using the information given, indicate the accounts, amounts, and accounting equation effects of transactions (a), (b), and (c). (Enter any decreases to assets, liabilities, or stockholders equity with a minus sign. Enter your answers in whole dollars.) Transaction (a) (b) (c) Assets Liabilities Stockholders' Equity
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