Unformatted text preview: are deferred at the time of sale and are recognized in earnings on a pro rata basis over the terms of the subscriptions. • Other revenue is recognized when the related service or product has been delivered. Also, the following information on its current liabilities was included in its comparative balance sheets: Required: Assuming that Ank-Morpork Times Inc. collected $440,000,000 in cash for home-delivery subscriptions during fiscal year 2013, what amount of revenue did it recognize during 2013 from this source? Show the relevant T-account information to support your answer....
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- Spring '11
- Generally Accepted Accounting Principles, Advertising Revenue, Ank-Morpork Times Inc., home-delivery subscription revenue