The correct answer to this open question is the following.
Although there are no options attached we can say the following.
Not really. I do not totally agree with the idea of NBA teams requiring fans to place deposits for season tickets for the following year. The reason is that I think the NBA teams, with the support of the League, are only thinking about their economic interests after the Pandemic.
Something similar happens with the idea of the NBA charging higher single-game prices to nonseason ticket holders. I think that is not fair.
Fans are fans for the love of the game and the passion professed to their teams. They are loyal. They are always supporting the teams. No matter hell or high water. Fans' loyalty is out of the question.
It was not the fault of the fans the way the 2020 season was played. Yes, teams lost money and they are desperate to recover it quickly, but not at the expense of the people's hard-earned money.
Answer:
There is a 1,500 gain
Explanation:
we have commercial subtance so we can recognize gain/loss
these will be the numebrs of the transaction:
truck
purchase 24,000
acc depreciation 17, 000
book value 7, 000
equipment 8,000
cash 500
total 8,500
received - given up = gain/loss
8,500 - 7,000 = 1,500 gain
the journal entry would be
Equipment 8,000 debit
cash 500 debit
acc dep truck 17,000 debit
Truck 24,000 credit
gain on disposal 1,500 credit
Explanation:
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