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Category > Accounting Posted 06 May 2017 My Price 7.00

Thompson Company receives $148,540 in cash for subscriptions

On June 1, Thompson Company receives $148,540 in cash for subscriptions covering two years. At the end of the year, December 31, Thompson finds that $94,302 of the subscriptions have been earned. Record in general journal form (a) the original receipt of cash on June 1 and (b) the year-end adjusting entry for Thompson Company.

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Status NEW Posted 06 May 2017 10:05 AM My Price 7.00

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Attachments

file 1494066355-Answer.docx preview (100 words )
O-----------n J-----------une----------- 1,----------- Th-----------omp-----------son----------- Co-----------mpa-----------ny -----------rec-----------eiv-----------es -----------$14-----------8,5-----------40 -----------in -----------cas-----------h f-----------or -----------sub-----------scr-----------ipt-----------ion-----------s c-----------ove-----------rin-----------g t-----------wo -----------yea-----------rs.----------- At----------- th-----------e e-----------nd -----------of -----------the----------- ye-----------ar,----------- De-----------cem-----------ber----------- 31-----------, T-----------hom-----------pso-----------n f-----------ind-----------s t-----------hat----------- $9-----------4,3-----------02 -----------of -----------the----------- su-----------bsc-----------rip-----------tio-----------ns -----------hav-----------e b-----------een----------- ea-----------rne-----------d. -----------Rec-----------ord----------- in----------- ge-----------ner-----------al -----------jou-----------rna-----------l f-----------orm----------- (a-----------) t-----------he -----------ori-----------gin-----------al -----------rec-----------eip-----------t o-----------f c-----------ash----------- on----------- Ju-----------ne -----------1 a-----------nd -----------(b)----------- th-----------e y-----------ear------------en-----------d a-----------dju-----------sti-----------ng -----------ent-----------ry -----------for----------- Th-----------omp-----------son----------- Co-----------mpa-----------ny.----------- A-----------nsw-----------er ----------- Th-----------ank----------- yo-----------u f-----------or -----------you-----------r i-----------nte-----------res-----------t a-----------nd -----------buy-----------ing----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n. -----------Ple-----------ase----------- pi-----------ng -----------me -----------cha-----------t a-----------s I----------- am----------- on-----------lin-----------e
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