Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

تمرين 14

Royal Caribbean is one of the world's largest cruise line companies.ts printing costs for brochures are initially recorded as Prepaid Advertising and are later charged to Advertising Expense when they are mailed.assenger deposits for upcoming cruises are considered unearned revenue and are recorded as Customer Deposits as cash is received.eposited amounts are later converted to Cruise Revenue as voyages are completed.
a.here in its financial statements does Royal Caribbean report Prepaid Advertising Where in its financial statements does it report Customer Deposits
b.repare the adjusting entry necessary when brochures costing $2 million are mailed.
c.n its most recent annual report, Royal Caribbean reported Customer Deposits of $1.5 billion.repare the adjusting entry necessary in the following year as $40 million of this amount is earned.
d.onsider the entire adjusting process at Royal Caribbean.hich adjusting entry do you think results in the most significant expense reported in the company's income statement