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How should disney capture the transaction in october

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Reference no: EM132930116

Disney earns revenues in a variety of ways. Below are two revenue scenarios for Disney. For each example, please share your thoughts on when Disney should recognize revenue by answering the questions below.

Problem 1: Television advertising - Suppose that ABC Mouse pays Disney $200,000 in May for TV commercials that will air in July. How should Disney capture this transaction in its accounting records in May and July?

Problem 2: Theme park admission - Assume that Disney collects $5,300,000 for admission to Magic Kingdom on October 15. How should Disney capture this transaction in its October accounting records?

Reference no: EM132930116

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