Discuss magazine subscriptions revenue

Assignment Help Accounting Basics
Reference no: EM131803146

Revenue Recognition

The realization principle determines when a business should recognize revenue. Listed next are three common business situations involving revenue. After each situation, we give two alternatives as to the accounting period (or periods) in which the business might recognize this revenue. Select the appropriate alternative by applying the realization principle, and explain your reasoning.

a. Airline ticket revenue: Most airlines sell tickets well before the scheduled date of the flight.(Period ticket sold; period of flight)

b. Sales on account: In June 2015, a San Diego-based furniture store had a big sale, featuring"No payments until 2016." (Period furniture sold; periods that payments are received from customers)

c. Magazine subscriptions revenue: Most magazine publishers sell subscriptions for future delivery of the magazine. (Period subscription sold; periods that magazines are mailed to customers)

Reference no: EM131803146

Questions Cloud

Find the best estimates for the linear trend line : Use Excel Solver to find the best estimates for the linear trend line and the seasonal indices for this data. Provide a screenshot of the Solver Dialog Box.
Historical cost-cash paid plus the current dollar : Requires assets to be recorded at historical cost-cash paid plus the current dollar value of all none cash considerations given on the date of the exchange.
What is the correct amount of lease expense : What is the correct amount of lease expense for 2017
Represent claim and comfort with gaap : Is an examination of the financial reports to ensure that they represent claim and comfort with GAAP.
Discuss magazine subscriptions revenue : Magazine subscriptions revenue: Most magazine publishers sell subscriptions for future delivery of the magazine.
Review problem on the internal revenue service : Ms. Walker was a permanent clerk typist in the Internal Revenue Service's Atlanta office. Ms. Walker is a light-skinned black person.
Compute the cost assigned to ending inventory : Liberty uses a perpetual inventory system. Determine the cost assigned to ending inventory and to cost of goods sold using specific identification
Amount of income from loan : The repayments yield an effective interest rate of 11% at a present value of $200,000 and 12.4% at a present value of $194,000.
Presented on the balance sheet on december : At what amount should the discount on notes payable be presented on the balance sheet on December 31, 2011?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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