Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. ivanhoe company ltd. publishes a monthly sports ma

Ivanhoe Company Ltd. publishes a monthly sports magazine, Fishing Preview. Subscriptions to the...

90.2K

Verified Solution

Question

Accounting

image

Ivanhoe Company Ltd. publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $28 per year. During November 2022, Ivanhoe sells 6,000 subscriptions for cash, beginning with the December issue. Ivanhoe prepares financial statements quarterly and recognizes subscription revenue at the end of the quarter. The company uses the accounts Unearned Subscription Revenue and Subscription Revenue. The company has a December 31 year-end. (a) Prepare the entry in November for the receipt of the subscriptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

In? mid-2009, Rite Aid had? CCC-rated, 6?-year bonds outstanding with a yield to maturity of 17.3...

Geometry
1.2K views

Calculate the volume of a cylinder that is 5 cm tall with a radius of...

Statistics
1.2K views

A logistic growth model for world population fox in billions x years after 1977 is...

Statistics
1.2K views

33 When playing roulette at a casino a gambler is trying to decide whether to...

Calculus
1.2K views

find the F CSx 3 dx A integral 25x 9x c B 3x 9x c...

Accounting
1.2K views

In the absence of partnership loss agreement to the contrary, how shall industrial partner...

Accounting
1.2K views

Rhinefold brews reduced calorie beer and regular beer. Sales of its reduced calorie beer represent...

Accounting
1.2K views

Periodic inventory using FIFO, LIFO, and weighted average cost methods The units of an item...

Accounting
1.2K views

PR 16-53(Algo) Ranking Investment Proposals; NPV versus Profltabllity Index; Taxes (Section 2)(LO 16-4, 16-6,16-7)...

Accounting
1.2K views

Legend Service Center just purchased an automobile hoist for $32,100. The hoist has an 8...

Accounting
1.2K views

JAS Ltd. sold $7,310,000 of 12% bonds, which were dated March 1,2023, on June 1,2023....

Accounting
1.2K views

Examine the cash flow statement for Procter and Gamble Company shown in Real-World Case 21-6...