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Required information (The following information applies to the questions displayed below.) The Riesen Publishers (TRP) is a publisher of magazines. Its accounting policy for
Required information (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 ( collected $510 million in 2021 for magazines that will be distributed later in 2021 and 2022, (b) provided $249 million of services on these subscriptions in 2021, and (c) provided $261 million of services on these subscriptions in 2022. 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) 11 Aut Labe Stockholders' Equity
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