Magic, Inc collected 12,000 in October 2011 from customers in exchange for 12-month subscriptions to its monthly magazine Magic Times. The October issue was the first issue of the subscription.
How much revenue should the company report on its income statement for the year ended December 31, 2011?
A) 3,000
B) 6,000
C) 12,000
D) No revenue will be recognized until all the magazines are delivered.
Question 2
The Fair Labor Standards Act requires employees to pay double the regular hourly rate for the time worked on Saturday.
a. True
b. False
Indicate whether the statement is true or false
A giant squid found at Ranheim in Trondheim 2 October 1954
7 month history of gradual, painless swelling and redness of both eyes
Conduction and gas exchange structures and functions.
A heat exchange vest that uses ice packs for cooling
Fetal development from 1 month to 9 months
Average real hourly wages (2010 dollars) by education level, full-time workers aged 17 to 34 in 2011