Calculate the portion of the prepaid subscription expenses that should be expensed during the month of April 2022 and the balance of the Prepaid Account as of April 30 considering the impact of the items in the table below. Adjust on a monthly basis, not daily Subscriptions Vendor MarketU InternationalAds Expense Account Posting Marketing - Sales & Marketing Software Marketing - Sales & Marketing Software April expense = $500; April 30 Prepaid Subscription = $3,500 O April expense = $1,000; April 30 Prepaid Subscription = $11,000 April expense = $1,500; April 30 Prepaid Subscription = $4,500 April expense = $1,500; April 30 Prepaid Subscription = $10,500 Service Period Start End Amount Nov-22 $6,000 Dec-21 Dec-21 May-22 $6,000 $12,000 C C C Q Q

Calculate the portion of the prepaid subscription expenses that should be expensed during the month of April 2022 and the balance of the Prepaid Account as of April 30 considering the impact of the items in the table below. Adjust on a monthly basis, not daily Subscriptions Vendor MarketU InternationalAds Expense Account Posting Marketing - Sales & Marketing Software Marketing - Sales & Marketing Software April expense = $500; April 30 Prepaid Subscription = $3,500 O April expense = $1,000; April 30 Prepaid Subscription = $11,000 April expense = $1,500; April 30 Prepaid Subscription = $4,500 April expense = $1,500; April 30 Prepaid Subscription = $10,500 Service Period Start End Amount Nov-22 $6,000 Dec-21 Dec-21 May-22 $6,000 $12,000 C C C Q Q

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

Calculate the portion of the prepaid subscription expenses that should be expensed during the
month of April 2022 and the balance of the Prepaid Account as of April 30 considering the impact of
the items in the table below.
Subscriptions
Adjust on a monthly basis, not daily
Vendor
MarketU
InternationalAds
Expense Account Posting
Marketing - Sales & Marketing Software
Marketing - Sales & Marketing Software
April expense = $500; April 30 Prepaid Subscription = $3,500
April expense = $1,000; April 30 Prepaid Subscription = $11,000
April expense = $1,500; April 30 Prepaid Subscription = $4,500
April expense = $1,500; April 30 Prepaid Subscription = $10,500
Service Period
Start
End
Amount
Nov-22 $6,000
$6,000
$12,000
Dec-21
Dec-21 May-22
Q
Q
C
Q
Q

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