i need to journal the following transaction: Moreno Company publishes a monthly sports magazine, Fishing Preview.

I need help with an unearned revenue question.

i need to journal the following transaction:

Moreno Company publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $30 per year. During November 2014, Moreno sells 21,600 subscriptions beginning with the December issue. Moreno 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.

I need to:

1. Prepare the entry in November for the receipt of the subscriptions.

2.Prepare the adjusting entry at December 31, 2014, to record sales revenue recognized in December 2014.

3. Prepare the adjusting entry at March 31, 2015, to record sales revenue recognized in the first quarter of 2015.

Solution-aDateNov. 30 Accounts Titles & ExplanationCashUnearned Subscription revenue DebitCredit648000648000 Unearned Subscription revenue = 21,600*$30 = $648,000Solution-bDateDec. 31…

Show more







Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 10% with the coupon code: best10