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A /New York daily newspaper called "Manhattan Today" charges an annual subscription fee of $108. Customers prepay thier subscriptions and receive 260 issues over the year.To attract more subscribers, the company offered new subscribers the ability to pay $110 for an annual subscription that also would include a coupon to receive a 40% discount on a one-hour ride through Central Park in a horse-drawn carriage. The list price of a carriage ride is $100 per hour. The company estimates that approximately 30% of the coupons will redeemed.
a. How much revenue should Manhattan Today recognize upon receipt of the $110 subscriptions price?
b. How many performance oligation exist in this contract?
c. Prepare the jornal entry to recognize sale of 14 new subscriptions, clearly idenitfying the revenue or unearned revenue associated with each performance obligation.
a corporation purchases 10000 shares of its own 10 par common stock for 17.50 per share recording it at cost. what will
2. Which of the following is a step in locating offshore assets? a. determine if a subject traveled overseas b. locate the subject's travel agency c. identify the means employed to move cash offshore d. all of the above e. none of the above
Marchand Corp is considering the purchase of a new piece of equipment, which would have an initial cost of $500,000, a 7 year life, and $150,000 salvage value. The increase in cash flow each year of the equipment's life would be as follows:
bull what do you think is the major purpose of financial statements? why? explain what type of information can
sanford inc. has developed value-added standards for four activities purchasing parts receiving parts moving parts and
a company had inventory on november 1 of 5 units at a cost of 20 each. on november 2 they purchased 10 units at 22
ermaine owns all 200 shares of peach corporation stock valued at 50000. kenya a new shareholder receives 200 newly
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tom was transferred from boston to baltimore. he sold his boston residence adjusted basis of 200000 for 280000 and
Sales amount is 20000; 29000;37000;44000; or 50000 (resp). How much advertising would you use if the cost of producing the item is $23.60 per item?
presented below is information taken from a bond investmentamortization schedule with related fair values provided.
Lupe and Rodrigo, father and son, each own 50% of the stock outstanding of Heron Corporation (Eof $400,000). During the current year, Heron redeems all of Lupe's shares for $250,000. The transaction cannot qualify as a complete termination redempt..
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