Question

fet Question 29 i point Hanlis Neas le sels a monthly mecazire called The Hawk. Hawks News Inc tz crosen a December 31 fiscal year end and began operations in 2020. During the yaz eded December 31 , 2020 Hanks Nens loc , received customer schscrçtan garments as folons az 5 Saltstigiosas ter the period October 2020-September 2021 $ 5190 Sikeselelers for the period November 2020-October 2021 $7980 Subscrets for the period December 2020-November 2021 $ 11130 Hans News ke telivered the mapine subscriptions for October, November and Dessertes. Calodate the amount of subscriptions revenue Hawks Nens Inc. will recsegize for the year ended December 31, 2020. You have

Answer 1

Answer = $ 3,555

calculation :

Hawks News Inc
Subscription Revenue to be recognised
for the year ended Dec 31, 2020
	Total Amount Received for 12 months subscription	Revenue recognised for months ( balance months till dec 2020 )	Amount of Revenue recognised
	(a)	(b)	( a * b / 12 )
Subscription for the period october 2020 - September 2021	$ 5,190	3	$ 1,297.50
Subscription for the period November 2020 - october 2021	$ 7,980	2	$ 1,330.00
Subscription for the period December 2020 - November 2021	$ 11,130	1	$ 927.50
Total revenue recognised till december 31 , 2020			$ 3,555.00

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