AMC Entertainment Holdings, Inc. (NYSE: AMC (Links to an external site.)Links to an external site.), also known as AMC Theatres, recently announced a $19.95 per month subscription service, AMC Stubs A-List (Links to an external site.)Links to an external site., to compete with MoviePass. With the A-List program, subscribers can see up to three movies per week with few restrictions. The minimum commitment is three months, after which time the subscriber can cancel at any time.

Just as a point of comparison, the cost of MoviePass is between $7.95 – $9.95 per month. Depending on the plan, MoviePass subscribers can see up to one movie per day, subject to restrictions. Subscribers can cancel at any time. MoviePass stock has fallen greatly in recent weeks because investors do not see its business model as sustainable. MoviePass has significantly more expenses than revenues and its cash is dwindling rapidly.

1. Assume that a new subscriber signs up for the AMC Stubs A-List program and pays $19.95 for the first month on August 1. On what day will AMC be able to recognize that first $19.95 as revenue?

2. If AMC charges a new subscriber for the first three months (the minimum commitment) when the subscriber signs up for the A-List program, when will AMC recognize the revenue from the first three months for that new subscription? How would the three-month prepayment be recorded initially by AMC?

3. Currently, AMC does not have an annual A-List payment option. Assume, however, that AMC rolls out an annual plan that allows subscribers to pay in one lump sum at the beginning of the subscription year for the A-List plan. When would AMC recognize revenue from this annual plan?

Question:

Here are the account balances for Reid Corporations June 30, 2020. I am having trouble with preparing the single step income statement

Sales revenue

$1,835,050

Telephone and Internet expense

Cost of goods sold

1,071,770

 (office)

$ 2,820

Salaries and wages expense (sales)

56,260

Salaries and wages (office)

7,320

Sales commission expense

97,600

Supplies expense (sales)

4,850

Advertising expense (sales)

28,930

Repairs and maintenance expense (office)

9,130

Freight out

21,400

Depreciation understatement due to

Entertainment expense (sales)

14,820

Error—2018 (net of tax of $3,300) - adjust beginning retained earnings

17,700

Telephone and Internet expense (sales)

9,030

Miscellaneous expense (office)

6,000

Depreciation of sales equipment

4,980

Dividend revenue

38,000

Repairs and maintenance expense

Interest expense

18,000

 (sales)

6,200

Income tax expense

133,000

Miscellaneous expenses (sales)

4,715

Dividends declared on preferred shares

9,000

Supplies expense (office)

3,450

Depreciation expense on office furniture and equipment

7,250

Dividends declared on common shares

32,000

Assume Reid has elected to adopt IFRS.

Retained Earnings account had a balance of $292,000 at July 1, 2019.

Help with preparing an income statement for the year ended June 30, 2020, using the single-step format

During 2020, Reid incurred production salary and wage costs of $710,000 and consumed raw materials and other production supplies of $361,770

Pina Colada Corporation had net sales revenue of $5,860,000 and investment revenue of $220,000 for the year ended December 31, 2020. Other items pertaining to 2020 were as follows:

Pina Colada has 100,000 common shares outstanding throughout the year.

Prepare a multiple-step income statement for Pina Colada Corporation, showing expenses by function. Include calculation of EPS. (Round per share answer to 2 decimal places, e.g. 52.75.)

1. What are some of the personal and financial difficulties you might face if you don’t plan for retirement?
2. According to an article in the April 11, 1998 issue of The Economist, several countries are considering the possibility of requiring retirement savings. Should governments require citizens to save, and if so, how much should governments force people to put aside?
3. Which is better for you personally, a standard IRA or a Roth IRA, and why?

1.         Trading volume on the New York Stock Exchange has been growing in recent years. For the first two weeks of January 1998, the average daily volume was 646 million shares (Barron’s, January 1998). The probability distribution of daily volume is approximately normal with a standard deviation of about 100 million shares.

a.   What is the probability trading volume will be less than 400 million shares?

b.   What percentage of the time does the trading volume exceed 800 million shares?

3. If the exchange wants to issue a press release on the top 5% of trading days, what volume will trigger a release?

2. Suppose that the average client charge per hour for lawyers in the state of Iowa for out-of-court work is $125. Suppose further that a random telephone sample of 25 lawyers in Iowa is taken. If the population standard deviation is $50,

1. What is the probability of getting a sample mean equal or greater than $110 per hour?

2. What is the probability of getting a sample mean less than $100 per hour?

3. What is the probability of getting a sample mean of between $120 and $130 per hour?

Assume you have a completely “dead” radio receiver with no visually defective components. What is the next troubleshooting step?

What is meant by “milking the front panel”?

What is the purpose of a “load” instrument in troubleshooting?

What is a good source for documentation on consumer equipment such as televisions, VCRs, and entertainment equipment?

Dividend revenue and interest revenue are reported in the income statement as a component of a company's net income

True or False

marginal revenue equals marginal cost to maximize total revenue