On March 1, 2020, Starkey Co sells a three year subscription for $1,800 cash. Starkey's journal...
On March 1, 2020, Starkey Co sells a three year subscription for $1,800 cash.
Starkey's journal entry on March 1, 2020 would be a debit to ______ for ______ and a credit to _______ for _________
First Blank: Cash, Accrued Revenue, Unearned Revenue, or Accounts Receivable
Second Blank: 50, 1800, or 900
Third Blank: Accrued Revenue, Cash, Unearned Revenue, or Accounts Receivable
Fourth Blank:50, 600, 1800
Homework Answers
Revenue from subscription should be apportioned over a period of time .
The sells of for 3 years subscription initially recorded as
Dr. Cash $1800
Cr.Unearned Revenue $1800
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On March 1, 2020, Starkey Co sells a three year subscription for
$1,800 cash.
Starkey's journal...
On August 1, 2009, a magazine publisher receives $24 cash for a year s subscription ending...
On August 1, 2009, a magazine publisher receives $24 cash for a year s subscription ending July 31, 2010. This transaction was originally recorded with a credit to Subscription Revenue. The adjusting entry on December 31, 2009, would be: Debit to Unearned Revenue, credit to Subscription Revenue for $14. Debit to Subscription Revenue, credit to Unearned Revenue for $14. Debit to Subscription Revenue, credit to Unearned Revenue for $10. Debit to Unearned Revenue, credit to Subscription Revenue for $10.
thank you On July 1, 2020, Dobbs Co. pays $14,400 to Kalter Insurance Co. for a...
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On July 1, 2020, Dobbs Co. pays $14,400 to Kalter Insurance Co. for a 3-year insurance contract. Both companies have fiscal years ending December 31. Journalize and post the entry on July 1 and the adjusting entry on December 31 for Kalter Insurance Co. Kalter uses the accounts Unearned Service Revenue and Service Revenue. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the...
On November 1, George prepaid for one year of insurance for $1,200. Record the following journal...
On November 1, George prepaid for one year of insurance for $1,200. Record the following journal entries. Accounts used Cash, Prepaid Insurance, Insurance Expense. The prepayment on November 1. journal entry Accounts Debit Credit The adjustment for used insurance at December 31 (2 months). journal entry The adjustment for used insurance at December 31 (2 months). journal entry Accounts Debit Credit On October 1, Sponge Bob, Inc. received $240 up front from a customer for a yearly magazine subscription. Magazines...
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Revaluation Magazine receives $90 in advance from a customer for a 3-year subscription. Revaluation Magazine's entry...
Revaluation Magazine receives $90 in advance from a customer for a 3-year subscription. Revaluation Magazine's entry to record this transaction would include: O A. debit to Unearned Subscription Revenue for $90 B. credit to Unearned Subscription Revenue for $90 C. credit to Subscription Revenue for $90 OD. debit to Subscription Revenue for $90 An accrued expense is an expense incurred by the company but not yet paid in cash. True O False Dreams Take Flight Ltd. includes the sales tax...
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Account Trial Balance Debit Credit 8,300 6,800 Adjusted Trial Balance Debit Credit $ 8,300 6,850 800...
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GreenLawn Co. provides landscaping services to clients. On May 1, a customer paid GreenLawn $60,000 for...
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- Your answer is partially correct. On July 1, 2020, Monty Co. pays $15,420 to Flounder...
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On July 1, 2020, Pina Colada Corp. pays $19,500 to Kalter Insurance Co. for a 3-year...
On
July 1, 2020, Pina Colada Corp. pays $19,500 to Kalter Insurance
Co. for a 3-year insurance contract. Both companies have fiscal
years ending December 31. Journalize and post the entry on July 1
and the adjusting entry on December 31 for Kalter Insurance Co.
Kalter uses the accounts Unearned Service Revenue and Service
Revenue. (Credit account titles are automatically indented when the
amount is entered. Do not indent manually. Record journal entries
in the order presented in the problem.)...
thank you
On July 1, 2020, Dobbs Co. pays $14,400 to Kalter Insurance Co. for a 3-year insurance contract. Both companies have fiscal years ending December 31. Journalize and post the entry on July 1 and the adjusting entry on December 31 for Kalter Insurance Co. Kalter uses the accounts Unearned Service Revenue and Service Revenue. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the...
On November 1, George prepaid for one year of insurance for $1,200. Record the following journal entries. Accounts used Cash, Prepaid Insurance, Insurance Expense. The prepayment on November 1. journal entry Accounts Debit Credit The adjustment for used insurance at December 31 (2 months). journal entry The adjustment for used insurance at December 31 (2 months). journal entry Accounts Debit Credit On October 1, Sponge Bob, Inc. received $240 up front from a customer for a yearly magazine subscription. Magazines...
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Revaluation Magazine receives $90 in advance from a customer for a 3-year subscription. Revaluation Magazine's entry to record this transaction would include: O A. debit to Unearned Subscription Revenue for $90 B. credit to Unearned Subscription Revenue for $90 C. credit to Subscription Revenue for $90 OD. debit to Subscription Revenue for $90 An accrued expense is an expense incurred by the company but not yet paid in cash. True O False Dreams Take Flight Ltd. includes the sales tax...
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- Your answer is partially correct. On July 1, 2020, Monty Co. pays $15,420 to Flounder Insurance Co.for a 3-year insurance policy. Both companies have fiscal years ending December 31. For Monty Co., journalize the entry on July 1 and the adjusting entry on December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter for the amounts. Record journal entries...
On
July 1, 2020, Pina Colada Corp. pays $19,500 to Kalter Insurance
Co. for a 3-year insurance contract. Both companies have fiscal
years ending December 31. Journalize and post the entry on July 1
and the adjusting entry on December 31 for Kalter Insurance Co.
Kalter uses the accounts Unearned Service Revenue and Service
Revenue. (Credit account titles are automatically indented when the
amount is entered. Do not indent manually. Record journal entries
in the order presented in the problem.)...
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