FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Saved Help Save & On September 1, 2021, Fortune Magazine sold 780 one-year subscriptions for $75 each. The total amount received was credited to Deferred

image text in transcribed
Saved Help Save & On September 1, 2021, Fortune Magazine sold 780 one-year subscriptions for $75 each. The total amount received was credited to Deferred subscription revenue. What is the required adjusting entry at December 31, 2021? Multiple Choice Deferred subscription revenue Subscription payable 19,500 19,500 Deferred subscription revenue Subscription revenue Prepaid subscriptions 58.500 19,500 39,000 19,500 Deferred subscription revenue Subscription revenue 19,500 39,000 Deferred subscription revenue Subscription revenue 39,000 3

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

Principles Of Accounting Volume 2 Managerial Accounting

Principles Of Accounting Volume 2 Managerial Accounting

Authors: OpenStax

1st Edition

0357364805, 9780357364802

More Books

Students also viewed these Accounting questions

Question

★★★★★
Let X equal the number out of n = 48 mature aster seeds that will germinate when p = 0.75 is the probability that a particular seed germinates. Approximate P(35 X 40).

Answered: 1 week ago

Question

★★★★★
Box plots and the standard normal distribution. What relationship exists between the standard normal distribution and the box-plot methodology (Section 2.7) for describing distributions of data by...

Answered: 1 week ago

Question

★★★★★
=+What kind of study is this?

Answered: 1 week ago

Question

★★★★★
ROBCOR, Inc., whose sample data are contained in the database named Ch13_P4.mdb, provides "on demand" aviation charters using a mix of different aircraft and aircraft types. Because ROBCOR has grown...

Answered: 1 week ago

Question

★★★★★
Two students read a news report about catfish hunting pigeons next to rivers. The report stated that catfish would lie submerged in deep water close to the bank, then would rush into shallow water...

Answered: 1 week ago

Question

★★★★★
The evidence is quite clear low labor standards give low-income countries both a production advantage and a comparative advantage. Select one: A. False B. True

Answered: 1 week ago

Question

★★★★★
Splish Brothers Inc.'s comparative balance sheets are presented below. Splish Brothers Inc. Comparative Balance Sheets December 31 Cash Accounts receivable Land Buildings 2022 2021 $ 14,700 $11,000...

Answered: 1 week ago

Question

★★★★★
Consider the following classic portfolio choice problem. Two assets are available to an investor at time t. One is riskless, with simple return Rf from time t to t+1 , and the other is risky. The...

Answered: 1 week ago

Question

★★★★★
Grocery Inc. (Grocery or the Company), an SEC registrant, is a wholesale grocery distributor and retailer in the United States. One of the Companys core businesses is distributing grocery products to...

Answered: 1 week ago

Question

★★★★★
Two identical springs hang from the ceiling, while a 4.0 kg block is attached to the end of the springs, as shown in the diagram. The spring constant is equal to: 0 20 40 60 80 2468 cm 4 kg

Answered: 1 week ago

Question

★★★★★
Required information [The following information applies to the questions displayed below.] Golden Corp.'s current year income statement, comparative balance sheets, and additional information follow....

Answered: 1 week ago

Question

★★★★★
Appreciate the role of leadership in creating a gender-inclusive organization.

Answered: 1 week ago

Question

★★★★★
Gain insight into innovative digital HR and organizational practices for D&I.

Answered: 1 week ago

Question

★★★★★
Differentiate between gender equality and gender equity.

Answered: 1 week ago

Previous Question Next Question