Anzen company sells magazine subscriptions for one to

Info icon This is a preview. Sign up to view the full content.

View Full Document Right Arrow Icon
42. Anzen Company sells magazine subscriptions for one- to three-year Cash receipts from subscribers are credited to Magazine Subscriptions Collected in Advance, and this account had a balance of P9,600,000 at December 31, 2009, before year-end adjustment. Outstanding subscriptions at December 31, 2009, expire as follows: During 2010 .................. P2,600,000 During 2011 .................. 3,200,000 During 2004 .................. 1,800,000 In its December 31, 2009, balance sheet, what amount should Anzen report as the balance for magazine subscriptions collected in advance? ____
Image of page 10
Image of page 11
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern