Here Are Some Financial Records for Accounting Plus Magazine Which

question 35

Multiple Choice

Here are some financial records for Accounting Plus Magazine which started operations in October 2012. Sales for its first month were as follows: What would be the deferred revenue at Oct 31, 2012? (Round to the nearest dollar) .

• A)$107,667
• B)$341,667
• C)$774,333
• D)$882,000

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Definitions:

Company

A company is a legal entity formed by a group of individuals to engage in and operate a business—commercial or industrial—enterprise.

Working Capital

The distinction between a business's immediate assets and liabilities, showcasing its operational effectiveness and short-term financial status.

Company

A legal entity formed by a group of individuals to operate a business, which can own property, incur liabilities, and sell products or services.

Acid-Test Ratio

A financial metric that measures a company's ability to pay off its current liabilities with its quick assets, excluding inventory.