Wellness,a Healthy Living Magazine,collected $516,000 in Subscription Revenue on May

question 42

Multiple Choice

Wellness,a healthy living magazine,collected $516,000 in subscription revenue on May 31.Each subscriber will receive an issue of the magazine in each of the next 12 months,beginning with the June issue.The company uses the accrual method of accounting.What is the balance in the Unearned Revenue account as of December 31?

• A) $215,000
• B) $301,000
• C) $516,000
• D) $387,000

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Definitions:

HRM Decisions

HRM Decisions involve strategic and operational decisions made by the Human Resources Management team concerning employee recruitment, development, retention, and other personnel-related policies.

Transaction Processing

The handling of information and actions necessary to complete the purchase or sale of securities in the financial market.

Computations

The process of calculating or determining something by mathematical or logical methods.

Compensation Strategy

A plan adopted by an organization to determine how to compensate its employees, including wages, salaries, benefits, and rewards.