6. Patient Company sells subscriptions to a specialized directory that is published semiannually and shipped to subscribers on April 15 and October 15. 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 revenues from subscriptions. Data relating to 2023 are as follows: Deferred revenue from subscriptions, 12/31/2022 P1, 500, 000 Cash receipts from subscribers 7, 200, 000 In its December 31, 2023 balance sheet, how much should patients report as deferred revenues from subscriptions?
6. Patient Company sells subscriptions to a specialized directory that is published semiannually and shipped to subscribers on April 15 and October 15. 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 revenues from subscriptions. Data relating to 2023 are as follows: Deferred revenue from subscriptions, 12/31/2022 P1, 500, 000 Cash receipts from subscribers 7, 200, 000 In its December 31, 2023 balance sheet, how much should patients report as deferred revenues from subscriptions?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 10RE: On December 1 of the current year, Jordan Inc. assigns 125,000 of its accounts receivable to...
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6. Patient Company sells subscriptions to a specialized directory that is published semiannually and shipped to subscribers on April 15 and October 15. 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 revenues from subscriptions. Data relating to 2023 are as follows:
Deferred revenue from subscriptions, 12/31/2022 P1, 500, 000
Cash receipts from subscribers 7, 200, 000
In its December 31, 2023 balance sheet, how much should patients report as deferred revenues from subscriptions?
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