A firm reports subscription fee revenue on the income statement of $200,000. Beginning and ending unearned subscription fee revenues on the balance sheet are $88,000 and $78,000, respectively. What is the amount of cash received from customers for fees? What dollar adjustment is needed in the operating section of the cash flow statement under the indirect method.
A firm reports subscription fee revenue on the income statement of $200,000. Beginning and ending unearned subscription fee revenues on the balance sheet are $88,000 and $78,000, respectively. What is the amount of cash received from customers for fees? What dollar adjustment is needed in the operating section of the cash flow statement under the indirect method.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 13MCQ
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A firm reports subscription fee revenue on the income statement of $200,000. Beginning and ending unearned subscription fee revenues on the balance sheet are $88,000 and $78,000, respectively.
What is the amount of cash received from customers for fees?
What dollar adjustment is needed in the operating section of the
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