Question: Multiple Choice Question 128 Concord Corporation typically sells subscriptions on an annual basis, and publishes 6 times a year. The magazine sells 72000 subscriptions in

Multiple Choice Question 128

Concord Corporation typically sells subscriptions on an annual basis, and publishes 6 times a year. The magazine sells 72000 subscriptions in January at $8 each. What entry is made in January to record the sale of the subscriptions?

A. Prepaid Subscriptions 576000 Cash 576000

B. Cash 576000 Unearned Subscription Revenue 576000

C. Subscriptions Receivable 96000 Unearned Subscription Revenue 96000

D. Subscriptions Receivable 576000 Subscription Revenue 576000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

AsSighment NEXT CALCULATOR FULL SCREEN PRNTER VERSION BACK Multiple Choice Question 128 Marigold Corp, typically sells subscriptions on an annual basis, and publishes 6 times a year. The magazine...

#129 Multiple Choice Question 129 Skysong, Inc. typically sells subscriptions on an annual basis, and publishes 8 times a year. The made in January to record the sale of the subscriptions? magazine...

Multiple Choice Question 124 Sheridan Company typically sells subscriptions on an annual basis and publishes 6 times a year. The magazine sells 75600 subscriptions in January at $9 each. What entry...

On January 1, 2017, Oriole Company, a calendar year company, issued $2120000 of notes pavable, of which $530000 is due on January 1 for each of the next four years. The proper balance sheet...

Question 10 Admire County Bank agrees to lend Givens Brick Company $800,000 on January 1. Givens Brick Company signs a $800,000, 8%, 9-month note. What is the adjusting entry required if Givens Brick...

CALCULATOR FULL SCREEN PRINTER VERSTONS BACK Question 29 Sheffield Corp, typically sells subscriptions on an annual basis, and publishes 6 times a year The magazine sells 95400 subscriptions in...

CALCULATOR FULL SCREEN PRINTER VERSION RADE Question 13 Ayayal Corp, typically sells subscriptions on an annual basis, and publishes 8 times a year. The magazine sells 56600 subscriptions in January...

Question 7 International Foods Company purchased equipment and incurred the following costs: Cash price W24,000 Sales taxes 1,200 Insurance during transit 200 Installation and testing 400 Total costs...

I need help in these questions and need help very fast. Please do the questions in 30 minutes and answer them just answers. Please fast and correct Question 16 If Norben Company issues 4,000 shares...

Question 18 Sunland Company typically sells subscriptions on an annual basis and publishes 6 times a year. The magazine sells 86400 subscriptions in January at $11 each. What entry is made in January...

Mr. Joab is a director of Fofo Limited. During the year 2013, the company allowed him to purchase 40,000 shares based on his enormous contribution to the company. The company's share capital is...

Reflect on your life and some controls that exist. Provide a mix of financial (such as a password on your internet banking account) and non-financial (like the car/brakes example above). Provide an...

Terry agreed to allow the extra five days for Joe to pay, however five days has now passed and no money has been received. Joe has now been in arrears for 14 days. Explain your next steps if Terry is...

The _ _ _ _ _ _ _ _ has significant impact on policy and is often as powerful as a commissioner or board member. Question 1 9 options: executive director chairperson secretary advisory council...

Judy Chang, the account manager for Northern Securities, has a portfolio that includes 20 shares of Allied Information Systems and 30 shares of Bangalore Analytics. Both firms provide Web-access...

5.65 A random variable X is normally distributed with a mean of 100 and a variance of 500, and a random variable Y is normally distributed with a mean of 200 and a variance of 400. The random...

5.66 An investor plans to divide $200,000 between two investments. The first yields a certain profit of 10%, whereas the second yields a profit with expected value 18% and standard deviation 6%. If...