All categories

1 year ago

Carson company sells sporting tickets in advance of the event for $500,000. The journal entry to record the sale is?

Business

2 answers:

zhuklara [117]1 year ago

8 0

Answer: No journal entry is required

Explanation:

ki77a [65]1 year ago

5 0

Carson company sells sporting tickets in advance of the event for $500,000. The journal entry to record and the sale transaction would include cash and credit unearned.

Account Debit Credit

Cash $500,000

Credit Unearned Ticket Revenue $500,000

Unearned revenue or credit is money received by an individual or company for a service or product that has yet to be provided or delivered. This includes the thought of as a prepayment for goods or services that a person or company is expected to supply to the purchaser at a later date.

Hence, Carson company sells sporting tickets where the debit cash $500,000 and credit unearned ticket revenue is $500,000

To learn more about Unearned revenue here:

brainly.com/question/14952769

#SPJ4

You might be interested in

ast year, Buckner & Jones Company incurred the following costs: Direct materials $42,000 Direct labor 63,000 Manufacturing o

ddd [48]

Answer:

correct option is d.$76.46

Explanation:

given data

Direct materials = $42,000

Direct labor = 63,000

Manufacturing overhead = 94,500

Selling expenses = 25,200

Administrative expenses = 23,100

sold = 2,060 units

to find out

conversion cost per unit

solution

we find first total conversion cost

total conversion cost = Direct labor + Manufacturing overhead ..........1

total conversion cost = 63,000 + 94,500

total conversion cost = $157,500

and

Conversion cost per unit will be

Conversion cost per unit = $\frac{Total conversion cost}{sold}$

Conversion cost per unit = $\frac{157,500
}{2060}$

Conversion cost per unit = 76.46

so correct option is d.$76.46

8 0

3 years ago

A US Multi National Corporation has a contract for a relatively predictable long-term inflow of Japanese yen. The firm decides t

nika2105 [10]

Answer: a natural hedge

Explanation:

Natural hedge is simply a strategy that is used by a company in order to reduce risk and this is done through the investment in the assets that their performance is not positively correlated.

Such companies typically makes revenue in the currency of another country. Since the firm decides to hedge the yen exposure by finding a supplier in Japan and paying for these imports in yen, this hedging strategy is known as natural hedge.

6 0

3 years ago

when looking at a graph of aggregate demand, which of the following is correct? a. there are nominal variables on both the verti

joja [24]

The total quantity of demand for all finished products and services generated in an economy is measured as aggregate demand. Hence option C is correct.

<h3>What is aggregate demand ? </h3>

The total amount of money spent on those goods and services at a particular price level and time is known as aggregate demand.

A macroeconomic concept known as "aggregate demand" refers to the total demand for products and services during a specific time period at any given price level.

Since the two indicators are calculated in the same way, aggregate demand is equal to GDP over the long run. Aggregate demand is the desire or demand for those products, whereas GDP is the total amount of goods and services produced in an economy.

Learn more about aggregate demand here

brainly.com/question/29670380

#SPJ1

6 0

2 years ago

Which of the following factors is the most important to consider when targeting a new market?

lions [1.4K]

These include gender, age, income levels, race, education, religion, marital status, and geographic location. Consumers that fall into these groups tend to value the same products and services, which is why narrowing down these segments is one of the most important factors to determine target markets... if not then search the question..

5 0

3 years ago

An investment adviser representative may share in the profits and losses of a customer's account A) under no conditions B) provi

ololo11 [35]

Answer: under no condition

Explanation:

An Investment Advisory Representative (IAR) are the individuals that are authorized and licensed who give investment advices to investment companies. They typically work as a financial advisor.

It should be noted that an investment adviser representative may share in the profits and losses of a customer's account under no conditions. They cannot share in the appreciation of capital.

Therefore, the correct option is A.

8 0

3 years ago