Business, 06.12.2021 23:00, Mintfu2580
Mallon University operates three 10-week semesters, beginning September 1, December 1, and March 1. For financial reporting purposes, Mallon reports on a calendar-year basis. The school's policy is that for every tuition dollar received, 50 percent is recognized as revenue one month into the semester, 25 percent is recognized after two months, and the last 25 percent is recognized at the end of the semester. Mallon receives $150,000 in cash for each semester, with full payment received on the first day of each semester. The journal entry for Year 1 will include which of the following debits and credits?
A. Debit to cash of $225,000.
B. Credit to deferred revenue of $150,000.
C. Credit to revenue of $225,000.
D. Debit to deferred revenue of $75,000.
Answers: 3
Business, 22.06.2019 14:40, annahm3173
In the fall of 2008, aig, the largest insurance company in the world at the time, was at risk of defaulting due to the severity of the global financial crisis. as a result, the u. s. government stepped in to support aig with large capital injections and an ownership stake. how would this affect, if at all, the yield and risk premium on aig corporate debt?
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Business, 22.06.2019 21:30, natasniebow
True or false payroll withholding includes income tax, social security tax, medicare tax as well as money you deduct for your retirement fund.
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Mallon University operates three 10-week semesters, beginning September 1, December 1, and March 1....
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