Problem 1-22 (AICPA Adapted) : Hart Company Sells Subscriptions To A Specialized Directory That Is Published Semi-Annually
Problem 1-22 (AICPA Adapted) : Hart Company Sells Subscriptions To A Specialized Directory That Is Published Semi-Annually
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
revenue from subscriptions
Deferred revenue from subscriptions - January 1 1,500,000
Cash receipts from subscribers during the current year 7,200,000
What amount should be reported as deferred revenue from subscription on December 31?
a. 1,800,000 b. 3,300,000 c. 3,600,000 d. 5,400,000
Weaver Company sells magazine subscriptions for a 1-year, 2-year or 3-year period.