You are the regional sales manager for Bruzzese News Company. Bruzzese is making adjusting entries for the
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1. What amount should be reported as cash from operations on the statement of cash flows?
2. What amount should be reported on the income statement for subscriptions revenue for the year ended March 31, 2011?
3. What amount should be reported on the March 31, 2011 balance sheet for unearned subscriptions revenue?
4. Give the adjusting entry at March 31, 2011, assuming that the subscriptions received on September 1, 2010, were recorded for the full amount in Unearned Subscriptions Revenue.
5. The company expects your region's annual revenue target to be $4,000.
a. Evaluate your region's performance, assuming that the revenue target is based on cash sales.
b. Evaluate your region's performance, assuming that the revenue target is based on accrual accounting.
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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