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stuck on adjusted entrys! pls help! 4-10. Deferrals. 1. Style Corporation is a magavine publisher. On February 1. it received $24,000 from customers who had

stuck on adjusted entrys! pls help! image text in transcribed
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4-10. Deferrals. 1. Style Corporation is a magavine publisher. On February 1. it received $24,000 from customers who had purchased 2-vear magazine subscriptions. Style publishes the magazine monthly. On February 1, Style's bookkeeper made the following entry to record the subscription sales: Cr. Dr. Cash 24,000 Unearned subscription sales Subscription sales 23,000 1,000 Assume that it is now December 31. Style has not made any adjusting journal entries related to this transaction since February 1. Required: a. Using the preceding information, calculate the adiusted ending balance in the Unearned Subscription Sales account and the Subscription Sales account at December 31. b. Prepare t-accounts showing the February 1 transaction, the adjustment to be made at December 31, and the ending balances in Unearned Subscription Sales and Subscription Sales. Subscription Sales Unearned Subscription Sales c. Prepare the general journal adjusting entry for December 31. 112 2. Assume the same facts as in (1) above, except the bookkeeper made the following entry on February 1: Cr. Dr. Cash 24,000 Subscription sales 24,000 The bookkeeper did not make any adjusting entries related to this amount before December 31, Required: a. Calculate the adjusted ending balance in the Subscription Sales account and the Unearned Subscription Sales account at December 31. b. Prepare t-accounts showing the February 1 transaction, the adjustment to be made at December 31, and the ending balances in Unearned Subscription Sales and Subscription Sales. Unearned Subscription Sales Subscription Sales c. Prepare the general journal adjusting entry for December 31. 3. Assume the same facts as in (1) above, except the bookkeeper made the following entry on February 1: Cr. Dr. 24,000 Cash 24,000 Unearned subscription sales The bookkeeper did not make any adjusting entries related to this amount before December 31. Required: a. Calculate the adjusted ending balance in the Unearned Subscription Sales account and the Subscription Sales account at December 31. b. Prepare t-accounts showing the February 1 transaction, the adjustment to be made at December 31, and the ending balances in Unearmed Subscription Sales and Subscription Sales, Unearned Subscription Sales Subscription Sales c. Prepare the general journal adjusting entry for December 31

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