Time Warner Inc. reported short-term deferred revenue of $1,497 million and $1,731 million as of December 31,
Question:
(a) What was the amount of the adjustment for unearned revenue for 2004?
(b) What would have been total revenues under the cash basis after considering the effect of (a)?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (7 reviews)
a 234 million 1731 1497 assuming that the change in shortterm deferred ...View the full answer
Answered By
Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Financial Accounting An Integrated Statements Approach
ISBN: 978-0324312119
2nd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Question Posted:
Related Video
Unearned revenue is money received by an individual or company for a service or product that has yet to be provided or delivered. It can be thought of as a \"prepayment\" for goods or services that a person or company is expected to supply to the purchaser at a later date. As a result of this prepayment, the seller has a liability equal to the revenue earned until the good or service is delivered. This liability is noted under current liabilities, as it is expected to be settled within a year.
Students also viewed these Accounting questions
-
At the end of December 2014, the following unit sales data were reported for the year: For the year ending December 31, 2015, unit sales are expected to follow the patterns established during the...
-
For the year ending December 31, 2018, MacPhail & Toole Inc.'s ("M&T Inc.'s") combined federal and provincial taxes payable amounted to $18,000, while for the year ending December 31, 2019,...
-
An air-filled X-band rectangular waveguide has dimensions a = 2.286 cm and b = 1.016 cm. If the waveguide has copper walls ( = o , = o , = 5.8 x 10 7 S/m), find the attenuation in dB/m due to the...
-
This problem continues the Daniels Consulting situation from Problem P12-39 of Chapter 12. Daniels decides to raise additional capital for a planned business expansion by issuing 8,000 additional $2...
-
Refer to the annual report of BHP annual report 2023 (including the table of contents) and answer the following questions: . Review all the sections within the selected company's annual report that...
-
Create an N2 Diagram for each of the following Mission Systems using Figure 8.11 as a template create identifiers for each interface. Annotate each box with bulleted contents. a. Fast food restaurant...
-
OBrien Company manufactures and sells one product. The following information pertains to each of the companys first three years of operations: Variable costs per unit: Manufacturing: Direct materials...
-
Firm A currently has 40,000 shares of stock outstanding at a market price of $18 a share. Firm B has 12,000 shares outstanding at a price of $31 a share. Firm B is willing to be acquired by firm A at...
-
Joint-cost allocation with a byproduct. Mat Place purchases old tires and recycles them to produce rubber floor mats and car mats. The company washes, shreds, and molds the recycled tires into...
-
The balance in the unearned fees account, before adjustment at the end of the year, is $67,250. Of these fees, $18,000 have been earned. In addition, $10,200 of fees have been earned but have not...
-
The estimated amount of depreciation on equipment for the current year is $5,000. (a) How is the adjustment recorded? Indicate each account affected, whether the account is increased or decreased,...
-
Find the temperature distribution in a rod (Figure) with internal heat generation using the finite-element method. Derive the element nodal equations using Fourier heat conduction. q k = - kA dT x...
-
Hatcher Village, which operates on the calendar year, issued a 5-year, 8%, $100,000 note to the Bank of Hatcher on January 5, 20X4. The proceeds of the note were recorded in a Capital Projects Fund....
-
Is the federal government budget today in surplus or deficit?
-
The opportunity cost of spending four hours studying a review book the night before a final exam would be _____. a) the cost of the review book b) missing four hours of TV c) a higher grade on the...
-
Sunrise Restoration and Remodeling is a small, privately-owned construction business specializing in restoring residential properties that have been damaged by fires and floods. Sunrise has a few...
-
A cofferdam has been built to protect homes in a floodplain until a major channel project can be completed. The cofferdam was built for the 40-year flood event. The channel project will require 5...
-
How is network seat allocation different from leg seat allocation?
-
The following information is for Montreal Gloves Inc. for the year 2020: Manufacturing costs Number of gloves manufactured Beginning inventory $ 3,016,700 311,000 pairs 0 pairs Sales in 2020 were...
-
Jessica and Matthew are running toward the point P along the straight paths that make a fixed angle of (Figure 8). Suppose that Matthew runs with velocity v a meters per second and Jessica with...
-
Grobe Inc. sells a product for $90 per unit. The variable cost is $75 per unit, while fixed costs are $45,000. Determine (a) The break-even point in sales units and (b) The breakeven point if the...
-
Dewi Inc. has fixed costs of $220,000. The unit selling price, variable cost per unit, and contribution margin per unit for the company's two products are provided below. The sales mix for products A...
-
Hackworth Company has fixed costs of $150,000. The unit selling price, variable cost per unit, and contribution margin per unit for the company's two products are provided below. The sales mix for...
-
After you've completed this week's assigned reading, watch the video below. Next, respond to the Discussion questions underneath. Your first post should answer those questions and should be made by...
-
Factorize (x4 - 20x + 100)
-
Paragraph discussing food insecurity in the United States. What agencies in the federal government play an important role in ameliorating this situation? What groups of people are at particular risk?
Study smarter with the SolutionInn App