Unearned revenue associated with performance obligation

Assignment Help Financial Accounting

Reference no: EM131286696

A New York City daily newspaper called “Manhattan Today” charges an annual subscription fee of $108. Customers prepay their subscriptions and receive 270 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 be redeemed.

Prepare the journal entry to recognize sale of 10 new subscriptions, clearly identifying the revenue or unearned revenue associated with each performance obligation.

Reference no: EM131286696

Questions Cloud

Explain how stephanie should convince her mother : Explain how Stephanie should convince her mother that it is inappropriate to call the bank manager and his wife for assistance in getting the loan approval?

Trust is not an internal control and trust but verify : There are four activities that can assist organizations in identifying anomalies in tracking employee behavior, track digital activities, and contrast them with an employee’s normal routine. What are these four activities and a summary of each? What ..

Messy realities of leadership : Based on whating the video, how can leaders deal with the messy realities of leadership? How can the conflicts and contradictions of leadership be resolved?(350~450 words)

Explain the relationship between fear and health : Explain the relationship between fear and health identified by the researchers in the article.Do you agree that structural violence perpetuates health disparity?

Unearned revenue associated with performance obligation : A New York City daily newspaper called “Manhattan Today” charges an annual subscription fee of $108. Customers prepay their subscriptions and receive 270 issues over the year. Prepare the journal entry to recognize sale of 10 new subscriptions, clear..

Facilitate students transfer : Describe two different things that teachers can do to facilitate students' transfer of what is learned in the classroom to real-world situations and problems. (300 words)

Determine the forces in members fg and ab in terms of p : Show that all diagonal members of the truss carry the same force, and find the magnitude of this force.

Determining the result of prejudice : Do you think that some individuals are denied access to service as a result of their race, gender, or age? How do you think that we should structure access to services to ensure that no one is denied as a result of prejudice?

Improving work-life balance : Identify and explain the alternative work arrangements that are available for improving work-life balance.

User Account

All Pages