All categories

3 years ago

Bramble University sells 6,500 season basketball tickets at $40 each for its 13-game home schedule.

Business

1 answer:

Mkey [24]3 years ago

5 0

Answer:

a. The entry to record the sale of the season tickets would be as follows:

Debit Credit

cash $260,000

Unearned ticket revenue $260,000

b. The entry to record the revenue recognized after playing the first game would be as follows:

Debit Credit

Unearned ticket revenue $20,000

Ticket revenue $20,000

Explanation:

a. In order to Give the entry to record the sale of the season tickets we would have to make the following calculation:

Cash=6,500*$40

Cash=$260,000

Therefore, entry would be as follows:

Debit Credit

cash $260,000

Unearned ticket revenue $260,000

b. In order to Give the entry to record the revenue recognized after playing the first game we would have to make the following calculation:

unearned ticket revenue=$260,000/13

unearned ticket revenue=$20,000

Therefore, entry would be as follows:

Debit Credit

Unearned ticket revenue $20,000

Ticket revenue $20,000

You might be interested in

Which of the following might explain the evidence of an endowment effect in behavioral economics?A) Government regulation B) Kno

Juliette [100K]

Answer:

The correct answer is letter "D": Class envy.

Explanation:

In behavioral economics, the endowment effect explains why an individual could give a higher value to an object that posses than giving a low value when the individual does not have it. The approach implies the object has symbolic importance for the individual while having it.

A good example of the endowment effect refers to a teacher that gives one of his classes' students mugs as gifts. The value of the students who received mugs was higher than the value of those who did not get one.

8 0

4 years ago

Exact Photo Service purchased a new color printer at the beginning of 2018 for $42,700. The printer is expected to have a four-y

MAVERICK [17]

Answer:

Depreciation for 2018 is = $15,120.60

Depreciation for 2019 is = $13,133.84

Depreciation for 2020 is = $10,401.04

Depreciation for 2021 is = $10,660.65

Explanation:

solution

we know here

Depreciation under Units of production method is

Depreciation is = (Cost - Salvage value) × (No of units produced ÷ Expected units of production)

put here value for each year

Depreciation for 2018 is = (42700-1708) × (553300 ÷ 1500000)

Depreciation for 2018 is = $ 15,120.60

Depreciation for 2019 is = (42700-1708) × (480600 ÷ 1500000)

Depreciation for 2019 is = $ 13,133.84

Depreciation for 2020 is = (42700-1708)× (380600 ÷ 1500000)

Depreciation for 2020 is = $ 10,401.04

Depreciation for 2021 is = (42700-1708)× (390100 ÷ 1500000)

Depreciation for 2021 is = $ 10,660.65

5 0

3 years ago

It is said that in a perfectly competitive market, raising the price of a firm's product from the prevailing market price of $17

stich3 [128]

Answer:

could likely result in a notable loss of sales to competitors

Explanation:

In the case of the perfect competitive market wheen the price of the firm is increased from $179 to $199 as compared to the prevailing market price so this means that there should be the loss with respect to the sales for the competitors or rivalrs as this would result the firm to lose its overall shares to its rivalry

Therefore the above statement should be considered true

6 0

3 years ago

WILL MAKE BRAINLIEST!!PLS HELP<br><br><br> Does the holland code use career clusters?

horsena [70]

I believe this is true.

Hope this helps!

4 0

3 years ago

Read 2 more answers

Greeting individual members of the audience before your presentation begins is an effective way to convey friendliness and confi

Nana76 [90]

Ngl I definitely think this is true :) if not then FRICKKKK I’m sooo sorry for getting it wrong