Roaker Dance Company sells subscriptions for its dance season whichincludes 9 performances. The company received annual subscriptionpayments on November 15, 2015 for performances that will take placeduring 2016 in the amount of $225,000. The subscription payments willbe earned equally for each dance performance. The first performance ofthe season is January 31, 3016.Required: Please show calculationsPart a. Prepare the journal entry for the receipt of annual subscriptionpayments on November 15, 2015.Part b. Prepare the required adjusting entry for the subscriptionpayments on January 31, 2016.

Answer : 1) Date Account title Dr. Cr. Nov.15,2015 Cash a/c Dr. $225,000 To unearned…

Answered: November 15, 2015 for perform in the…

Business

Accounting

November 15, 2015 for perform in the amount of $225,000. The qually for each dance performance 5 January 31, 3016.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 14EB: Anderson Air is a customer of Handler Cleaning Operations. For Anderson Airs latest purchase on...

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