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  • Listed Below Are Seven Corporations That Receive Cash From Customers

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    trilocksp Singh
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    Seven corporations - America West Corporation, The New York Times Company, Carnival Corporation, Devry, Inc., Clear Channel Communications, Inc., AFLAC Incorporated, and Bally Total Fitness Corporation - receive cash from customers prior to earning revenue. These corporations report this unearned revenue using various accounts: deferred advertising income, unearned premiums, air traffic liability, unexpired subscriptions, deferred member revenues, deferred tuition revenue, and customer deposits. The realization principle states that revenue is earned when the corporations provide their services or goods.

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    Seven corporations - America West Corporation, The New York Times Company, Carnival Corporation, Devry, Inc., Clear Channel Communications, Inc., AFLAC Incorporated, and Bally Total Fitness Corporation - receive cash from customers prior to earning revenue. These corporations report this unearned revenue using various accounts: deferred advertising income, unearned premiums, air traffic liability, unexpired subscriptions, deferred member revenues, deferred tuition revenue, and customer deposits. The realization principle states that revenue is earned when the corporations provide their services or goods.

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    12 views1 page

    Listed Below Are Seven Corporations That Receive Cash From Customers

    Uploaded by

    trilocksp Singh
    Seven corporations - America West Corporation, The New York Times Company, Carnival Corporation, Devry, Inc., Clear Channel Communications, Inc., AFLAC Incorporated, and Bally Total Fitness Corporation - receive cash from customers prior to earning revenue. These corporations report this unearned revenue using various accounts: deferred advertising income, unearned premiums, air traffic liability, unexpired subscriptions, deferred member revenues, deferred tuition revenue, and customer deposits. The realization principle states that revenue is earned when the corporations provide their services or goods.

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    Listed below are seven corporations that receive cash from

    customers
    Listed below are seven corporations that receive cash from customers prior to earning
    revenue:America West Corporation................. (airline) The New York Times Company...............
    (Newspaper) Carnival Corporation.................... (Cruise Company) Devry, Inc...................... (For-
    profit technical college) Clear Channel Communications, Inc............ (Radio broadcasting)
    AFLAC Incorporated................. (Health insurance) Bally Total Fitness Corporation...............
    (Fitness club)Listed below are the accounts used by these corporations to report unearned
    revenue: Deferred Advertising Income.............Unearned Premiums Air Traffic
    Liability................Unexpired Subscriptions Deferred Member Revenues............Deferred Tuition
    Revenue Customer Deposits Match each corporation with the account title it uses to report
    unearned revenue. Apply the realization principle to explain when each of these corporations
    converts unearned revenue to earned revenue.View Solution:
    Listed below are seven corporations that receive cash from customers
    SOLUTION-- http://solutiondone.online/downloads/listed-below-are-seven-corporations-that-
    receive-cash-from-customers/

    Unlock answers here solutiondone.online


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