1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
hram777 [196]
3 years ago
14

Fugazi City College sold season tickets for the 2015 football season for $240,000. A total of 8 games will be played during Sept

ember, October and November. In September, three games were played. The adjusting journal entry at September 30
a. will include a debit to Ticket Revenue and a credit to Unearned Ticket Revenue for $80,000.
b. is not required. No adjusting entries will be made until the end of the season in November.
c. will include a debit to Cash and a credit to Ticket Revenue for $60,000.
d. will include a debit to Unearned Ticket Revenue and a credit to Ticket Revenue for $90,000.
Business
1 answer:
tamaranim1 [39]3 years ago
6 0

Answer:

d. will include a debit to Unearned Ticket Revenue and a credit to Ticket Revenue for $90,000.

Explanation:

For tickets sold in advance, revenue is not recognized on those tickets until the matches have been played. As such, when payment was received for the tickets, the required entries were Debit Cash account and credit Deferred or unearned revenue.

When the matches are played, revenue is proportionately earned and recorded by crediting revenue and debiting deferred or unearned revenue.

For the 3 games played in September, revenue earned

= 3/8 × $240,000

= $90,000

You might be interested in
Eastern Corporation collects 10% in the second month following sale, 55% in the month following sale, and 35% of a month's sales
monitta
I believe the answer is B if not let me know
3 0
3 years ago
The ________ phase of the strategic marketing process usually results in a(n) ________ that sets the direction for the marketing
zhenek [66]

Answer:

planning; marketing plan

Explanation:

The planning phase is the second phase of any activity. It is basically made after analysis of all the problems and opportunities.

Planning phase basically aims at organizing the techniques for achieving the aims. This aims for planning phase to achieve the sales and set targets for gaining maximum performance in marketing. This sets all the strategies and policies for marketing.

7 0
3 years ago
An ice cream manufacturer makes ice cream in two processes, Mixing and Packaging. During April, its first month of business, the
Mazyrski [523]

Based on the sales revenue that the ice cream manufacturer got and the cost of goods sold, the total gross profit on ice cream sales is $300,000.

<h3>How is the total gross profit calculated?</h3>

This can be found as:

= Sales revenue - Cost of goods sold

Sales revenue:

= 200,000 x 4.70

= $940,000

Cost of goods sold:

= Total production cost / Total units produced x Units sold

= 665,600 / 208,000 x 200,000

= $640,000

Gross profit:

= 940,000 - 640,000

= $300,000

Find out more on gross profit at brainly.com/question/942181.

#SPJ1

3 0
1 year ago
Basically, nations trade: Question 10 options: in order to stockpile goods in case of national disaster or emergency. in order t
IgorLugansk [536]

Answer:

because no nation's economy can produce all of the goods and services that it needs.      

Explanation:

In simple words, International trade refers to the exchange of goods and services that occurs between the nations around the world for over all welfare and development of world economy.One of the major reasons behind such exchange is the opportunity cost of producing the same good differs among nations significantly.

For instance, a product that belongs to the labor intensive industry could be produced in India easily while as technology intensive good is feasible in America.Also due to difference of availability in natural resources some economies might  not be able to produce some goods altogether.                

8 0
3 years ago
Concord Corporation had 807000 shares of common stock outstanding at December 31, 2021. In addition, it had 150000 stock options
Radda [10]

Answer:

846,000 shares

Explanation:

According to the scenario, computation of the given data are as follows:

Outstanding common stock = 807,000 shares

Outstanding option stock = 150,000

option price = $37

Market price of common stock = $50

So, 150,000 - (150,000 × $37 ÷ 50)

= 150,000 - 111,000

= 39,000

So, Number of shares = 807,000 + 39,000

= 846,000 shares

7 0
3 years ago
Other questions:
  • The original amount of money you deposit in a savings account is the _____.
    8·1 answer
  • A tire manufacturer produces 400 tires valued at $20 each. Three hundred tires are sold to a tire shop, which then sells them to
    14·1 answer
  • Record the purchase of services on account.On March 12, Medical Waste Services provides services on account to Grace Hospital fo
    14·1 answer
  • Financing cash flows in the statement of cash flows would include which of the following?
    10·1 answer
  • g Swifty Corporation issued 3,100 5%, 5-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1
    10·1 answer
  • Collection of projects, reports, exams, awards and other evidence of past experience and accomplishments which may serve as a su
    14·1 answer
  • Armstrong is a well-known producer and seller of rose bushes. The company's marketing manager is interested in knowing what gard
    13·1 answer
  • Linda is the manager of a graphic design company. Her IT team asked for her consent to upgrade the editing software used by empl
    12·1 answer
  • I WILL MARK BRAINLIEST IF CORRECTHow does the value of the cars produced by the Japanese company within the United States impact
    15·1 answer
  • Vigo Vacations has an equity multiplier of 2.5. The company’s assets are financed with some combination of long-term debt and co
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!