The Sociologist is an academic publication available only by annual subscription. At December 31, 2025, the Unearned Revenue account had a balance of $22,000. During 2026, 1,000 annual subscriptions were sold at $224 each. Revenue earned during 2026 was $200,000. How much unearned revenue will be reported as of December 31? O $24,000 $25,000 $0 $46,000
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- Dimples Company sells subscriptions to a specialized directory, which is issued semi-annually and distributed to subscribers on April 15 and October 15. Subscriptions acquired after the March 31 and September 30 deadlines are kept for the following issue. Cash from subscribers is received evenly throughout the year and is credited to deferred subscription revenues. The following data are for 2021: Unearned Subscriptions, 12/31/2020 - P3,000,000 Cash receipts from subscribers - P14,400,000 How much should Dimples report Unearned Subscription on its December 31, 2021 statement of financial position?IceKreme’s net accounts receivable were $96,000 at June 30, 2019. Calculate IceKreme’s average collection period for fiscal year 2020. (Use 365 days a year. Round intermediate calculations to 2 decimal places. Round the final answer to 1 decimal place.)On March 1, 2021, the company lent $20,400. The note required principal and interest at 9% be paid on February 28, 2022. What is the journal entry and the amount to enter into the journal?
- Ellsworth Enterprises borrowed $425,000 on an 8%, interest-bearing note on September 30, 2020. Ellsworth ends its fiscal year on December 31. The note was paid with interest on May 31, 2021. Prepare the entry for this note on September 30, 2020. Account Names DR CR Blank 1. Fill in the blank, read surrounding text. Blank 2. Fill in the blank, read surrounding text. Blank 3. Fill in the blank, read surrounding text. Blank 4. Fill in the blank, read surrounding text. Blank 5. Fill in the blank, read surrounding text. Blank 6. Fill in the blank, read surrounding text. Blank 7. Fill in the blank, read surrounding text. Blank 8. Fill in the blank, read surrounding text. Blank 9. Fill in the blank, read surrounding text. Blank 10. Fill in the blank, read surrounding text. Blank 11. Fill in the blank, read surrounding text. Blank 12. Fill in the blank, read surrounding text. Blank 13. Fill in the blank, read surrounding text. Blank 14. Fill in the blank, read…In December 2020, Quebecor Printing received magazine subscriptions for 2021 from customers, who paid $210 in cash. What would be the appropriate journal entry for this event in December 2020? Multiple Choice Debit Subscription Revenue, $210; credit Cash, $210. Debit Cash, $210; credit Subscription Revenue, $210. Debit Cash, $210; credit Deferred Revenue, $210. No journal entry is necessary.Close Norwood, Inc, signs a $10,500, 9%, six - month note dated November 1, 2018. The interest expense recorded for this note in 2018 will be (Do not round any intermediate calculations, and round your final answer to the nearest dollar.) OA $315 OB. $945 Xc. $473 D. $158
- On October 1, Year 1, Sparky Co. Magazine sold one-year subscriptions in advance, collecting a total amount of $12.000 upfront. What is the required adjusing journal entry at the end of the month? Dr Subscriplion Revenue $12.000, Cr Uneamed Subscripton Revenue $12.000 Dr Subscription Revenue $1.000. Cr Uneamed Subscrption levenue $1,000 Dr Uneamed Subscription Revenue $12.000, Cr Subscrpton Revenue $12.000 Dr Uneamed Subscription Revenue $1.000: Cr Subscription Revenue $1.000The Eglington Newspaper sold 4,000 of annual subscriptions at $125 each on September 1. How much unearned revenue will exist as of December 31? Select one: a. $166,667. b. $500,000. $0. C. d. $333,333.Company Ltd. publishes a monthly magazine called Fishing Preview. Subscriptions cost $28 per year. In NOV 2022, Cassini sells 6,300 (annual) subscriptions for cash, beginning with the DEC issue. Cassini prepares financial statements quarterly and recognizes subscription revenue at the end of the quarter. The company uses the accounts Unearned Subscription Revenue and Subscription Revenue. The company has a DEC 31 year-end. Instructions (a) Prepare the entry in NOV the receipt of the subscriptions. (b) Prepare the adjusting entry at DEC 31, 2022, to record one month's subscription revenue for DEC 2022. (c) Prepare the adjusting entry at MAR 31, 2023, to record subscription revenue in the first quarter of 2023. (a) NOV (b) DEC 31 (c) Mar 31
- XYZ Company lent $9,000 at 10% interest on December 1, 2019. The amount plus all interests accrued will be collected after 1 year. At the end of December, which of the following journal entry is required to take up the interest income? Select one: a. Debit Cash $900; Credit Interest Revenue $900 b. Debit Interest Revenue $75; Credit Interest Receivable $75 c. Debit Interest Receivable $900; Credit Unearned Revenue $900 d. Debit Interest Receivable $75; Credit Interest Revenue $756. Patient Company sells subscriptions to a specialized directory that is published semiannually and shipped to subscribers on April 15 and October 15. Subscriptions received after the March 31 and September 30 cut-off dates are held for the next publication. Cash from subscribers is received evenly during the year and is credited to deferred revenues from subscriptions. Data relating to 2023 are as follows: Deferred revenue from subscriptions, 12/31/2022 P1, 500, 000 Cash receipts from subscribers 7, 200, 000 In its December 31, 2023 balance sheet, how much should patients report as deferred revenues from subscriptions?Ayayai Corp. typically sells subscriptions on an annual basis and publishes 6 times a year. The magazine sells 84600 subscriptions in January at $9 each. What entry is made in January to record the sale of the subscriptions? O Cash 761400 Unearned Subscription Revenue 761400 O subscriptions Receivable Unearned Subscription Revenue 126900 126900 O Subscriptions Receivable Subscription Revenue 761400 761400 O Prepaid Subscriptions 761400 Cash 761400