Author Question: Hen House, Inc collects all subscription revenue in advance. At December 31, 2011, the company owed ... (Read 72 times)

hbsimmons88 · **on:** Jul 5, 2018

Hen House, Inc collects all subscription revenue in advance. At December 31, 2011, the company owed 50,000 to customers for unearned revenue.

During 2012, the company received 150,000 in advance from its customers and delivered 190,000 of magazines to its customers. How much subscription revenue will Hen House, Inc report on its income statement for the year ended December 31, 2012?
A) 200,000
B) 190,000
C) 10,000
D) 210,000

Question 2

_____________ control plans relate to a multitude of goals and processes.
a. Pervasive
b. IT general
c. Business process
d. Preventive