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The following relates to a magazine company called My Style Mag (MSM). You will use your understanding of the relationships among: (1) business activities, (2)

The following relates to a magazine company called My Style Mag (MSM). You will use your understanding of the relationships among: (1) business activities, (2) accounting equation effects, (3) journal entries, and (4) T-accounts, to complete a four-part table similar to the following. Prepare a separate table for each item (a)%u2013(f) listed below.

Required: Event a: (1) On January 22, 2009, MSM received $21,000 cash from customers for one-year subscriptions to the magazine for February 2009 %u2013 January 2010. (2) Assets = Liabilities + Stockholders' Equity (3) General Journal Debit Credit (4) Cash Unearned Subscription Revenue Event b: (3) General Journal Debit Credit Jan.31 Utilities Expense 4,200 Accounts Payable 4,200 (1) MSM received utilities services on account at a cost of $ (2) Assets = Liabilities + Stockholders' Equity (4) Accounts Payable Utilities expense Event c: (2) Assets = Liabilities + Stockholders' Equity Feb.28 Unearned Subscription Revenue -3,000 Subscription Revenue +3,000 (1) MSM provided $ of subscriptions for which it had previously received payment. (3) General Journal Debit Credit (4) Unearned Subscription Revenue Subscription Revenue Event d: (1) On March 31, 2009, MSM recorded an adjusting entry for the month's depreciation of $11,200. (2) Assets = Liabilities + Stockholders' Equity (3) General Journal Debit Credit (4) Accumulated Depreciation Depreciation Expense Event e: (4) Cash 6,200 Apr.1 Prepaid Rent Apr.1 6,200 (1) On April 1, MSM paid $ rent in advance of obtaining its benefits. (2) Assets = Liabilities + Stockholders' Equity (3) General Journal Debit Credit Event f: (4) Accounts Receivable Apr.30 12,800 Advertising Revenue 12,800 Apr.30 (1) On April 30, 2009, MSM billed customers for $ of advertising services provided on account. (2) Assets = Liabilities + Stockholders' Equity (3) General Journal Debit Credit


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