3. An unearned subscription of PhP360,000 was credited when it was received on April 1, 2013, good for 1 year. How much is the balance of unearned subscription at the end of December 31, 2012? a. b. What is the amount of the adjustment?

3. An unearned subscription of PhP360,000 was credited when it was received on April 1, 2013, good for 1 year. How much is the balance of unearned subscription at the end of December 31, 2012? a. b. What is the amount of the adjustment?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: The following are examples of a partial online offer of the “Transaction Business Model”, except:…

A: Innovation in communication and in technology have changed the desires of the people as well as how…

Q: Who is the Father of Accounting? b)…

A: Fra Luca Bartolomeo de Pacioli is the father of Accounting.

Q: Hello, could you please teach me about income statement and balance sheet for my accounting class?…

A: Lets start with the basics. There are various steps after which statement of financial position or…

Q: Information must be sufficiently transparent so that it makes sense to reasonably informed users of…

A: Lets understand the basics.Information should have some charactaristics which helps stakeholders to…

Q: Explain below the two key factors that distinguish the accounting break-even analysis from the…

A: Break even point is where there is no loss and no profit situations and but all cost of are covered.…

Q: How does analyzing more and diverse data around us help answer accounting questions? Give a specific…

A: Data Analyzing is most important factor for the process of accounting/ Auditing. More you analyze…

Q: How would you approach the implementation and application of new accounting standards?

A: INTRODUCTION: Accounting standards are important in the financial reporting of a corporation.…

Q: Question: computers play a significant part in current accounting practice. state two advantages of…

A: Computerized accounting system It is system under which the accounting information are recorded…

Q: ich of the following services cannot be performed for a no O Signing payroll checks. O Preparing…

A: Nonissuer client refers to the person or the client or companies who cannot issue securities nor…

Q: What are some of the expenses associated with the provision of accounting data? What are some of the…

A: Will be explained:

Q: Hi What is recordable transaction vs exchange transaction. Also, please provide an explanation on…

A: A transaction record is a written or electronic record of activity or information related to an…

Q: Cite at least 4 users of accounting information and state also why they are interested of such…

A: Financial statements are : Income statement Balance Sheet Cash flow statement Statement of…

Q: ness document is it?

A: voucher is a backup documents which shows business transactions.

Q: Which of the following types of transactions can be uploaded into QBO using the Receipt action.…

A: QBO : It stands for QuickBook Online, an online platform for recording the business transactions.…

Q: Define the Words “Accounting” in your own Words then add the Witty Hashtag about accounting

A: Accounting is the art of summarizing the financial data of the organization through proper book…

Q: Eypically would best appear. If an item Account Title Classification 1. Long-term investment in…

A: 1. Long term investment in stock: It is a long term investment as the name suggests.2.…

Q: I would like to open a business account. Outline the steps required to open the most suitable…

A: The business bank account seems to be a bank account or kind of bank account that is being used for…

Q: Please I want answer for this question by your understanding and experience in this field and typing…

A: The financial statements of an organization replicate a genuine image of its monetary presentations.…

Q: If you are to create your own accounting software, what and how would it be?

A: Answer: If I can create my own accounting software, that would be named as Track books Track books…

Q: What are the possible careers for someone skilled enough in accounting information system

A: The accounting profession has evolved from simple tax preparation and bookkeeping to the advanced…

Q: Exactly why do you need an accounting system?

A: An accounting system is a bundle of processes with integrated procedures and controls. The…

Q: Please help with explaining how I can answer the following if I chose the role of an investor:…

A: Investors are individuals or entities that provide capital to a business or organization with the…

Q: Name some users of accounting information.

A: Accounting is defined as an information system that reports the financial performance of a business…

Q: Why is accounting a system of information? Extend your explanation with an example from your own…

A: Introduction : Accounting a system of information : Accounting Information Systems aids in the…

Q: What is blockchain technology? How might blockchain technology help to change accounting reporting,…

A: Financial reporting means to furnish the financial records or statements prepared by the…

Q: elect the correct combination of similarity between accounting, finance and banking? i. Dealing…

A: Banking is the financial institution who receives, collects and pays money for customers Finance…

Q: n your own words, what does relevance mean to you? After tackling this topic, then research…

A: Relevance means the necessity of work at a specific point of time. Relevance means the work which we…

Q: Question 2 Which of the following is not a user of management accounting information? O Employees.…

A: There are several branches of accounting being used in business. These may be financial accounting,…

Q: How can you ensure that your accounting records are accurate?

Q: You've studied about how transactions are documented and reported in your accounting classes. Why…

A: System of Accounting Information: Accounting information may be utilized for more than just reading…

Q: Accounting Which one below is not an area on which financial statement auditors provide an opinion?…

A: Auditor analyse the financial statement of company and States weather the books of accounts are…

Q: lo can i get help with something

A: All accounting related queries and question solutions are been provided.

Q: What duties/responsibilities impacted you most and why?  on your accounting practicum training

A: The question is asking about the duties or responsibilities that had the most impact during my…

Q: If we perform services for a client who had previously paid us up front, we will ____ the Deferred…

A: Introduction:- Deferred revenue, often known as unearned income, refers to payments made in advance…

Q: Why should you as accounting student need to understand normalization

A: Normalization techniques are important because they help in proper storage of data by eliminating…

Q: What would you contribute to a conversation about accounting topic? For example, you might discuss…

A: When contributing to a conversation about an accounting topic, it's important to ensure that your…

Q: record all transactions in accounting

A: Transactions are recorded to get a true picture of the state of affairs of a business during a…

Q: 3peints There is a variation in the structure and the scope when users make their decisions. Because…

A: MANAGEMENT ACCOUNTING: The accounting by which the both financial and non-financial information are…

Q: Fill in the blanks below with the accounting principle, assumption, or related item that best…

A: All blanks are filled in step 2

Q: Give me an introduction paragraph about AI on the Accounting Industry

A: Artificial Intelligence (AI) is revolutionizing various industries, and the accounting industry is…

Q: xamples how travel agency business analyse and manage the

A: When you start a travel agency, you must keep detailed accounting records for your company. These…

Question

hello, can u please help me with my accounting assignment, with explanations and solutions, please? For me to have a better understanding of this topic. Thank you inadvance.

3.
An unearned subscription of PHP360,000 was credited when it was received on April 1,
2013, good for 1 year.
a.
How much is the balance of unearned subscription at the end of Deceber 31,
2012?
b.
What is the amount of the adjustment?
2021/11/28 16:53

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Challenges in accounting and analysis of international transactions

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

May you tell me where I can get reliable IFRS relevant to accounting changes?
please help with the question that is attached as a picture. thanks
Account
Post two comments about the article on the message board 'Antecedents of the Accounting Profession' by Willard E. Stone
Discuss the following: Discuss the financial errors you made or expected to make when using accounting softwares. Explain or suggest the reasons for the errors and how could you avoid them.
We discussed what seemed to most as a new term, bright-line accounting. Please researchand describe in your own opinion what bright-line accounting means to you.
Jan wants to plan for her daughter's education. Her daughter, Rachel was born today and will go to college at age 18 for five years. Tuition is currently $15,000 per year, in today's dollars. Jan anticipates tuition inflation of 6% and believes she can earn an 11% return on her investment. How much must Jan save at the end of each year, if she wants to make her last payment at the beginning of her daughter's first year of college? $4,680.37 $7,334.72 $3,882.03 $2,547.54
How do you find UBS Accounting software? What are the users comment of this accounting software (like/dislike/criticism)?
Hello! I need help with the following accounting principles question. It states that for each box, we can either select the user as being an external or internal user. Thank you in advance!
If someone asked you now if you think accounting is important in our society, what will you say?
Thank you for helping out with the accounting equation, but may you fill in every blank please in each category
Discuss the types of errors in financial accounting and explain why some errors need to go through suspense account. Your discussion should include the purpose of suspense account