Get in Shape, a healthy living magazine, collected $528,000 in subscription revenue on May 31. Each subscriber will receive an issue of the magazine in each of the next 12 months, beginning with the June issue
The company uses the accrual method of accounting. What is the balance in the Unearned Revenue account as of December 31?
A) $220,000
B) $308,000
C) $528,000
D) $396,000
A .Unearned Revenue $528,000
Number of months of subscription 12 months
Subscription Revenue per month ($528,000 / 12 ) $44,000
Number of months from May till December 7 months
Subscription Revenue from May till December ($44,000 x 7 months) $308,000
Unearned Revenue as of December ($528,000 - $308,000 ) $220,000
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Taft Company produces 5,00 . pallets each day. The average number of units in work in process is 10,000 . having an average cost of $35,000 . The annual carrying costs related to inventory are 20%. Consultants have determined that the work in process could be reduced by as much as 25% by rearranging the factory floor. What would the throughput time be if Harrison implements the recommended
changes? a. Twelve hours b. One day c. One and one-half days d. Two days
Medium selection should be based primarily on the writer's preferences
Indicate whether the statement is true or false
A state law prohibits firefighters and school teachers from going out on strike. Though they are allowed to organize into collective bargaining units, state law prohibits them from striking. Such a state law:
a. is legal. b. is not legal since the U.S. Supreme Court has ruled such a state law violates the equal protection clause of the Constitution. c. is not legal since the federal law (NLRA) preempts state law. d. is not legal because the right to form unions is illusory without the right to strike.
Reversing entries are optional.
Answer the following statement true (T) or false (F)