<span>The total revenue they earned from selling the football tickets is $1,200,000.
As a result, they should debit cash for $1,200,000 and credit for unearned revenue for the same amount.</span>
No answer choices......
In a mortgage, the amount of money borrowed is called the Loan principal, or just a loan.
Answer: Life cycle assessment
Explanation: Life cycle assessment is the systematic analysis of environmental impacts of products from design stage through end-of-life, raw materials and energy inputs to its disposal with the ultimate goal to reduce environmental impact. It is concerned with every stage of the life-cycle (from raw material extraction, processing of raw materials, production, distribution, usage and disposal) of a product, process, or service.
Answer:
$320,000
Explanation:
Since the season starts in January and lasts until June, by April 30 the balance of the deferred revenue (or unearned revenue account) would be = $960,000 - {($960,000 / 6) x 4} = $960,000 - $640,000 = $320,000
The journal entries should be:
Accumulated tickets until December 31
Dr Cash 960,000
Cr Deferred (Unearned) revenue 960,000
By April 30th, the adjusting entry should be:
Dr Deferred (Unearned) revenue 640,000
Cr Ticket revenue 640,000
In the equation of exchange, m x v = p x q, the v represents velocity the average amount of money in circulation the average frequency with which a dollar is spent the average price level quantity purchased. Velocity is the rate that money is exchanged in a given economy, the money is usally measured in a ratio format. To find the velocity, use the ratio of the gross national product over the companies supply of money that they have.