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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

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Use the Internet to research different outside financing sources available to entrepreneurs. You will need to have at least thre
Scrat [10]

Answer:

Three sources of financing to a business includes;

1) Angels (National Angel Capital Organization, NACO)

Wealthy and experienced retired industry leaders, that invest in startups, require transparency, and take charge of the supervision of the business management practices

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An incubator provide enabling environment and resources for startups to develop ideas before going into production

3) Bank Loans (Business Development Bank of Canada, BDC)

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Explanation:

8 0
2 years ago
What is sub-optimization and what organizational characteristics tend to lead to larger sub-optimization problems?
solong [7]

An organizational characteristics that tend to lead to larger sub-optimization problems is continuous focus on optimizing a unit of a business rather than the results of the entire business

<h3>What is Sub-optimization?</h3>

In a firm. the term "Sub-optimization" occurs when there is reduced level of output as a result of an an inefficient or ineffective process or system.

The problem associated with Sub-optimization is that when there is an optimization of outcome for a subsystem, it may not generally optimize the outcome for the system as a whole.

In conclusion, the organizational characteristics that tend to lead to larger sub-optimization problems is continuous focus on optimizing a unit of a business rather than the results of the entire business

Read more about Sub-optimization

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7 0
2 years ago
Suppose First Main Street Bank, Second Republic Bank, and Third Fidelity Bank all have zero excess reserves. The required reserv
dlinn [17]

Answer:

Change in Excess Reserves $1,350,000

Change in Required Reserves $450,000

Explanation:

Preparation of the table to show the effect of a new deposit on excess and required reserves

Based on the information given since the REQUIRED RESERVE RATIO is 25%, which means that First Main Street Bank will hold 25% of its initial deposit leading to INCREASE in the REQUIRED RESERVE by the amount of $450,000 (25%*$1,800,000) while the remaining 75% (100%-25%) will be the EXCESS RESERVES of the amount of $1,350,000 (75%*$1,800,000).

Hence:

Amount Deposited: $1,800,000

Change in Excess Reserves=$1,350,000

Change in Required Reserves= $450,000

Therefore the effect of a new deposit on excess and required reserves will be:

Change in Excess Reserves $1,350,000

Change in Required Reserves $450,000

4 0
3 years ago
Which of the following is absolutely necessary for successful implementation and operation of MRP? (I) accurate inventory record
frez [133]

Answer:

(A) I, II, and IV only

Explanation:

The Material Requirements Planning MRP is used to calculate tha materials needed for production. It may be done by software but it can be done without any technological tool.

The most important information for MRP is about the available inventory for future production, in this way the company will know what materials are needed for future production. To provide the materials on time it is necessary to know the master schedules of production, making sure that the supplies will be ready on time for manufacturing process. Finally, the accurate Bills of materials are used as a check list to verify that there is not any pending component for the production process. Even when the MRP may include costs, it is not a vital component for the system and some companies can have MRP without including costs.

4 0
3 years ago
The Chinese political environment is very:
VikaD [51]

Answer:

Strict about it's people and not a lot of people own cars. I thinks that's China or that's North Korea. In not sure

3 0
3 years ago
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