Income statement for subscriptions revenue

Assignment Help Accounting Basics

Reference no: EM13142869

In November and December 2010, Lane Co., a newly organized magazine publisher, received $90,000 for 1,000 three-year subscriptions at $30 per year, starting with the January 2011 issue. Lane included the entire $90,000 in its 2010 income tax return. What amount should Lane report in its 2010 income statement for subscriptions revenue

Reference no: EM13142869

Questions Cloud

Relationship of acceptable audit risk : Explain why an auditor is likely to set both inherent and control risks at 100% for most segments. And explain the relationship of acceptable audit risk to planned detection risk and the effect of planned detection risk on evidence accumulation co..

Planning of fixed overhead costs : Which of the following pertains primarily to the planning of fixed overhead costs?

Analyze the various research methods : Analyze the various research methods employed in psychology to determine which research method seems the most applicable across the greatest number of situations.

What is the genotype frequency of homozygous : South Mountain Park in Phoenix, AZ, is the largest city park in the US. Among other fancy things, it is notable for its population of Chuckwallas, with the highest density reported.

Income statement for subscriptions revenue : In November and December 2010, Lane Co., a newly organized magazine publisher, received $90,000 for 1,000 three-year subscriptions at $30 per year, starting with the January 2011 issue. Lane included the entire $90,000 in its 2010 income tax retur..

Probability of selecting sample with mean of at least value : The mean amount of life insurance per household in the United States is $110,000. What is the likelihood of selecting a sample with a mean of at least $112,000?

Issuance of the bonds : Hartzler Enterprises issued 8%, 8-year, $2,000,000 par value bonds that pay interest semiannually on October 1 and April 1. The bonds are dated April 1, 2011, and are issued on that date. The discount rate of interest for such bonds on April 1, 20..

Select a human behavior : Select a human behavior (everything is open to discussion, from skydiving, to watching a movie, to aggravated assault) and determine how the biological bases of behavior play a role in that behavior. Provide specific examples to support your response..

What is the percent yield : What is the percent yield if 6.25 g S2Cl2 is isolated from the reaction of 10.0 g S8 and 7.50 g Cl2?

User Account

All Pages