Horngren's Accounting, The Financial Chapters (12th Edition)

12th Edition

ISBN: 9780134486789

Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura

Publisher: PEARSON

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Textbook Question

Chapter 11, Problem E11.16E

Recording and reporting current liabilities

Learning Objective 1

Dec. 31 Subscription Revenue $80

Watson Publishing completed the following transactions during 2018:

Oct. 1	Sold a six-month subscription (starting on November 1), collecting cash of $240, plus sales tax of 8%.
Nov. 15	Remitted (paid) the sales tax to the state of Tennessee.
Dec. 31	Made the necessary adjustment at year-end to record the amount of subscription revenue earned during the year.

Journalize the transactions (explanations are not required). Round to the nearest dollar.

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Chapter 11, Problem E11.15E

Chapter 11, Problem E11.17E

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Chapter 11 Solutions

Horngren's Accounting, The Financial Chapters (12th Edition)

Ch. 11 - On January 1, 2018, a business borrowed $18,000 on...Ch. 11 - Prob. 2QC Ch. 11 - Prob. 3QC Ch. 11 - Prob. 4QC Ch. 11 - Prob. 5QC Ch. 11 - Prob. 6QC Ch. 11 - Prob. 7QC Ch. 11 - Prob. 8QC Ch. 11 - Prob. 9QC Ch. 11 - McDaniel and Associates reported the following...

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