Explore, a travel magazine, collected $500,000 in subscription revenue in May. Each subscriber will receive an issue of the magazine for each of the next 12 months, beginning with the June issue. The company uses the accrual method of accounting
Provide the journal entry for collection of cash in May. (Ignore explanation). Assume the magazine initially records a liability for the subscription revenue.
What will be an ideal response
Cash 500,000
Unearned Revenue 500,000
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A business owner will gain an increased understanding of the unusual or unique competitive factors and capabilities of a business through
A. competitive map. B. benchmarking. C. gap analysis. D. resource-based analysis.
Botanica Beauty, Inc. sells cosmetic products in the United States. Which one of the following is most likely to be a revenue center for Botanica?
A) a Botanica retail store in Dallas B) the Botanica human resource department C) a Botanica kiosk at a mall for selling its products D) the Botanica product lines
The amount, if any, of capitalized interest cost for Year 2 is
a. $0 b. $50,000 c. $60,000 d. $180,000 e. $230,000
An activity-based budgeting system may help support continuous improvement and process management
Indicate whether the statement is true or false