Question
In: Accounting
Wellness, a healthy living magazine, collected $ 540, 000 in subscription revenue on May 31. Each...
Wellness, a healthy living magazine, collected $ 540, 000 in subscription revenue on May 31. Each subscriber will receive an issue of the magazine in each of the next 12 months, beginning with the June issue. The company uses the accrual method of accounting. What is the balance in the Unearned Revenue account as of December 31?
Solutions
Expert Solution
| june to december will be earned that is for 7 months | ||||||
| so unearned balance will be 12 - 7 months = 5 months | ||||||
| Balance in unearned revenue account | ||||||
| (540000/12)*5 | ||||||
| 225000 | answer | |||||
ekkarill92 answered 2 years agoRelated Solutions
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(use sas）
Adv Revenue
25 50
15 49.7
20 34
17 30.7
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Here is the code help you to paste data into your R:
data6<-'Adv Revenue
25 50
15 49.7
20 34
17 30.7
23 27
17 26.3
14 24.6
22 16.9
12 16.7
15 14.6
8 13.8
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