Question

The beginning balance in unearned subscription revenue is $900. The ending balance in unearned subscription revenue...

The beginning balance in unearned subscription revenue is $900. The ending balance in unearned subscription revenue is $915. Cash received for prepaid subscription during the period is $230. How much subscription revenue was earned during the period?

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Answer #1

Solution:

Subscription revenue earned during the period = $215

Explanation:

The beginning balance in unearned subscription revenue is $900

The endin balance in unearned subscription revenue is $915

Cash received for prepaid subscription during the period is $230

The subscription revenue was earned during the period

=Beginning balanace + Cash received for prepaid subscription - Ending balance

= $900 + $230 -$915

= $215 Which is shown in income and expenditure accounts

$230 is shown in receipts and payments accounts

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