Required information

[The following information applies to the questions displayed below.]

Evans Ltd. publishes a monthly newsletter for retail marketing managers and requires its subscribers to pay $60 in

advance for a one-year subscription. During the month of August 2019, Evans Ltd. sold 500 one-year subscriptions and

received payments in advance from all new subscribers. Only 350 of the new subscribers paid their fees in time to recei

the August newsletter; the other subscriptions began with the September newsletter. Table 6-4, Table 6-5 (Use

appropriate factor from the table provided.)

Required:

a-1. Use the horizontal model to record the effects of subscription fees received in advance during August 2019. Indicate the

statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.)

Required information [The following information applies to the questions displayed below.) Evans Ltd. publishes a monthly newsletter for retail marketing managers and requires its subscribers to pay $60 in advance for a one-year subscription. During the month of August 2019, Evans Ltd. sold 500 one-year subscriptions and received payments in advance from all new subscribers. Only 350 of the new subscribers paid their fees in time to receive the August newsletter; the other subscriptions began with the September newsletter. Table 6-4. Table 6-5 (Use appropriate factor from the table provided.) Required: a-1. Use the horizontal model to record the effects of subscription fees received in advance during August 2019. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Balance Sheet Liabilities Stockholders' Equity Assets Net Income Cash 19,200 Unearned subscription revenue (1.800) Reve