2: E10-6 (Algo) Determining and Recording the Financial Statement Effects of Deferred Revenue [LO 10-2]

Required information E10.6 (Algo) Determining and Recording the Financial Statement Effects of Deferred Revenue [LO 10-2) The following information applies to the questions displayed below) The Riesen Publishers (TRP) is a publisher of magazines. Its accounting policy for subscriptions follows: Revenues Revenues from our magazine subscription services are deferred initially and later recognized as revenue as subscription services are provided. Assume TRP () collected $470 million in 2021 for magazines that will be distributed later in 2021 and 2022.(0 provided $229 million of services on these subscriptions in 2021, and (d) provided $241 million of services on these subscriptions in 2022 E10-6 (Algo) Part 1 Required: 1. Using the information given, indicate the accounts, amounts, and accounting equation effects of transactions (a), (b) and ((Enter any decreases to assets, liabilities, or stockholders equity with a minus sign. Enter your answers in whole dollars.) Assets Liabilities Stockholders' Equity Transaction (a) b) (e) 5 Riesen Publishers (TRP) is a publisher of magazines. Its accounting policy for subscriptions follows: Revenues renues from our magazine subscription services are deferred initially I later recognized as revenue as subscription services are provided. me TRP () collected $470 million in 2021 for magazines that will be distributed later in 2021 and 2022, (6) provided million of services on these subscriptions in 2021, and (a provided $241 million of services on these subscriptions in Boba Hint go) Part 1 Print information given, indicate the accounts, amounts, and accounting equation effects of transactions (() and () (Enter eases to assets, liabilities, or stockholders equity with a minus sign. Enter your answers in whole dollars.) Annets Liabetes Stockholders' Equity