Gannett Company, Incorporated, states in a recent annual report that it is "an innovative, digitally focused media and marketing solutions company committed to fostering the communities in our network and helping them build relationships with their local businesses." Gannett owns media assets including "USA TODAY, local media organizations in 46 states in the U.S. and Guam, and Newsquest" (in the United Kingdom with over 140 local media brands). Gannett also owns digital marketing services companies ReachLocal, UpCurve, WordStream, and runs the largest U.S. media-owned events business Gatehouse Live. Gannett's annual report included the following accounts. Dollars are in millions: Required: 2. For each T-account, compute the missing amounts. 1/1 12/31 Debit Accounts Receivable 238 3,186 332 Credit Unearned Subscriptions Revenue Debit Credit 133 2,690 113 1/1 12/31 1/1 12/31 Debit Prepaid Expenses 65 823 76 Credit

Gannett Company, Incorporated, states in a recent annual report that it is "an innovative, digitally focused media and marketing solutions company committed to fostering the communities in our network and helping them build relationships with their local businesses." Gannett owns media assets including "USA TODAY, local media organizations in 46 states in the U.S. and Guam, and Newsquest" (in the United Kingdom with over 140 local media brands). Gannett also owns digital marketing services companies ReachLocal, UpCurve, WordStream, and runs the largest U.S. media-owned events business Gatehouse Live. Gannett's annual report included the following accounts. Dollars are in millions: Required: 2. For each T-account, compute the missing amounts. 1/1 12/31 Debit Accounts Receivable 238 3,186 332 Credit Unearned Subscriptions Revenue Debit Credit 133 2,690 113 1/1 12/31 1/1 12/31 Debit Prepaid Expenses 65 823 76 Credit

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter10: Auditing Cash And Marketable Securities

Section: Chapter Questions

Problem 69RSCQ

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