6. Patient Company sells subscriptions 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 revenues from subscriptions. Data relating to 2023 are as follows: Deferred revenue from subscriptions, 12/31/2022 P1, 500, 000 Cash receipts from subscribers 7, 200, 000 In its December 31, 2023 balance sheet, how much should patients report as deferred revenues from subscriptions?
6. Patient Company sells subscriptions 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 revenues from subscriptions. Data relating to 2023 are as follows: Deferred revenue from subscriptions, 12/31/2022 P1, 500, 000 Cash receipts from subscribers 7, 200, 000 In its December 31, 2023 balance sheet, how much should patients report as deferred revenues from subscriptions?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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6. Patient Company sells subscriptions 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 revenues from subscriptions. Data relating to 2023 are as follows:
Deferred revenue from subscriptions, 12/31/2022 P1, 500, 000
Cash receipts from subscribers 7, 200, 000
In its December 31, 2023
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