Moreno Company publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $20 per year. During November 2019, Moreno sells 15,000 subscriptions beginning with the December issue. Moreno prepares financial statements quarterly and recognizes subscription revenue at the end of the quarter. The company uses the accounts Unearned Subscription Revenue and Subscription Revenue.
(a) Prepare the entry in November for the receipt of the subscriptions
(b) Prepare the adjusting entry at December 31, 2019, to record sales revenue recognized in December 2019.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Moreno Company publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $20 per year. During November 2019, ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
The following transactions occur for Badger Biking Company during the month of June: Provide services to customers on account for $31,000. Receive cash of $23,000 from customers in (a) above.
Answers (1)
What are Mormons? (I just want to know what people think)
Answers (1)
The sale price of a property is $100,000. The buyer pays $10,000 down and makes one payment of $268 on the existing loan balance of $50,000, bearing interest at 5%.
Answers (1)
An example of an important service the government provides to all U. S. citizens is a. military training b. transportation c. education d. housing
Answers (1)
the___is the most important fact to consider when selecting a credit card if you do not pay the balance on your credit card every month. APR, annual fee, late fee, over-the-limit fee
Answers (1)
New Questions in Business
Marriott Vacation Club operates time share vacation properties across the world and employs sales representatives to contact potential buyers to offer a complimentary two or three day stay at one of their locations.
Answers (1)
When Barb realized she didn't have all of the technical information she needed to answer the customer's questions, she made a call to her office. Who would be most likely to provide appropriate assistance? A. an order getter B. an order taker C.
Answers (1)
Suppose demand for U. S. products across the world increases. What is the impact on the flow of financial capital as a result of the increase in demand for products, the value of the U. S. dollar, and the foreign money price of the U. S.
Answers (1)
What are THREE examples of monetary policy in the United States? Group of answer choices The government decreases government spending. The government increases the discount rate. The government reduces personal income tax rates.
Answers (1)
Does the production function:q=100L-20/kexhibit increasing, decreasing, or constant returns to scale?
Answers (1)