Record the sale of the subscriptions

Assignment Help Accounting Basics

Reference no: EM13121656

Ramsey Company typically sells subscriptions on an annual basis, and publishes six times a year. The magazine sells 60,000 subscriptions in January at $10 each. What entry is made in January to record the sale of the subscriptions?

A) Subscriptions Receivable: 600,000 Subscription Revenue: 600,000

B) Cash: 600,000 Unearned Subscription Revenue: 600,000

C) Subscriptions Receivable: 100,000 Unearned Subscription Revenue: 100,000

Reference no: EM13121656

Questions Cloud

Find out whether or not the measurement of net income : Find out whether or not the measurement of net income for a merchandising company conceptually is the same for a service company.

Calculate the number of moles of h2 present at equilibrium : or the reaction H2(g)+CO2(g) H2O(g)+CO2(g) at 700C, Kc=.534. Calculate the number of moles of H2 that are present at equilibrium

Why are molecules that block oxidative phosphorylation : why are molecules that block oxidative phosphorylation and the electron transfer chain such dangerous and potentially deadly poisons?

Illustrate what are these accounting shenanigans : Illustrate what are these accounting shenanigans? Briefly explain each. Do internet research to answer the question.

Record the sale of the subscriptions : Ramsey Company typically sells subscriptions on an annual basis, and publishes six times a year. The magazine sells 60,000 subscriptions in January at $10 each. What entry is made in January to record the sale of the subscriptions?

How would fat metabolism be affected then : A mutation in acetyl-CoA carboxylase replaces the Serine that is usually phosphorylated by AMPK to an Alanine. What affect does this have on fat metabolism? If Serine were replaced by Asp. how would fat metabolism be affected then?

Illustrate what is its net income : Du Pont and net income Ebersoll Mining has $6 million in sales; its ROE is 12 percent; and its total assets turnover is 3.2 . The company is 50 percent equity financed. Illustrate what is its net income?

First quadrant-linear inequalities : What conditions need to be satisfied for a system of linear inequalities to have its solution in the first quadrant? Create such a system.

Likelihood number of burglaries in year is between a range : The average burglary rate for a particular jurisdiction has been 311 per year with a standard deviation of 50. What is the likelihood that the number of burglaries in the next year is between 250 and 300?

User Account

All Pages