Assuming that adjusting entries

Assignment Help Financial Accounting
Reference no: EM133272769

Question

Get Going, a healthy living magazine, collected $840000 in subscription revenue on May 31. Each subscriber will receive an issue of the magazine in each of the next 12 months, beginning with the June issue. Assuming that adjusting entries are prepared monthly, what is the balance in the unearned revenue account as of December 31?

Reference no: EM133272769

Questions Cloud

Private offering exemption as possible option : Fulton Corporation, is contemplating a private offering and is considering using Regulation A's Tier 2 private offering exemption as a possible option
Determine whether asset is impaired : Determine whether the asset is impaired or not under IAS 36. Justify your answer with calculations and an explanation
What amount of current assets did this firm have : X Company, an equipment manufacturer, provided the following information to its accountant. What amount of current assets did this firm have?
Explain accounting treatment of the property : Explain the accounting treatment of the property in the financial statements for the year ended 31st December 2020.
Assuming that adjusting entries : Assuming that adjusting entries are prepared monthly, what is the balance in the unearned revenue account as of December 31?
What is Macro : What is macro( in Exel)? Explain how this macro feature would assist the client in the future. What is its advantage?
Future value of the annual savings : What would be the future value of the annual savings over 10 years based on an annual interest rate of 4 percent?
Discuss nature of public borrowing in kenya : Discuss the nature of public borrowing in Kenya and its effects on the country's economy
Mcbains to maximise their pension entitlement : Are there any other strategies that you can suggest to assist the McBains to maximise their pension entitlement and whether there are any risks

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd