This exercise builds from a simple situation to a slig
Question and Solution
This exercise builds from a simple situation to a slightly more complex situation. Rogers, a wireless phone service pr
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This exercise builds from a simple situation to a slightly more complex situation. Rogers, a wireless phone service provider, collects cash in advance from customers. All amounts are in millions. Assume Rogers collected $400 in advance during 2017 and at year-end still owed customers phone service worth $90. Requirements 1. Show what Rogers will report for 2017 on its â€¢ Income statement â€¢ Balance sheet 2. Use the same facts for Rogers as in Requirement 1. Further, assume Rogers reported unearned service revenue of $80 at the end of 2016. Show what Rogers will report for 2017 on the same financial statements. Explain why your answer differs from your answer to Requirement 1.
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