Hart Company sells subscription to a specialized directory that is published semiannually and shipped tosubscribers on April 15 and October 15. Subscriptions received after the March 31 and September 30cut-off dates are held for the next publication. Cash from subscribers is received evenly during the yearand is credited to deferred revenue from subscriptions. Data relating to 2021 are as follows:Deferred revenue from subscriptions – January 1Cash receipts from subscribersIn its December 31, 2022 balance sheet, Hart should report deferred revenue from subscription of1,800,0003,300,0003,600,0005,400,0001,500,0007,200,000a.b.C.d.

The deferred revenues from subscriptions account accounts for subscription fees which was received…

Answered: 00,000 d revenue from subscri

Business

Accounting

00,000 d revenue from subscri

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Hart Company sells subscription to a specialized directory that is published semiannually and shipped to
subscribers on April 15 and October 15. Subscriptions received after the March 31 and September 30
cut-off dates are held for the next publication. Cash from subscribers is received evenly during the year
and is credited to deferred revenue from subscriptions. Data relating to 2021 are as follows:
Deferred revenue from subscriptions – January 1
Cash receipts from subscribers
In its December 31, 2022 balance sheet, Hart should report deferred revenue from subscription of
1,800,000
3,300,000
3,600,000
5,400,000
1,500,000
7,200,000
a.
b.
C.
d.

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