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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

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Answer:

$5,500,000

Explanation:

Total fair value of the options = Number of shares in the option × Estimated fair value per option = 1,000,000 × $5.50 = $5,500,000

Therefore, the total compensation indicated by these options would be $5,500,000.

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3 years ago

Patrick Rach International issued 5% bonds convertible into shares of the company's common stock. Rach applies U.S. GAAP. Upon i

Ludmilka [50]

Answer:

The correct answer is letter "B": The proceeds of the bond issue entirely as debt.

Explanation:

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3 years ago

The approved detail design resulting from the __________ serves as a basis for making the decision to begin production. Systems

wel

Answer: Critical Design Review

Explanation:

A Critical Design Review is referred to as a review that's fine in order o ensure that a system can be able to move into fabrication, and test and also ensure that the stated performance requirements are met.

The approved detail design resulting from the critical design review serves as a basis for making the decision to begin production.

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2 years ago

If the supply curve and the demand curve for lettuce both shift to the left by an equal amount, what can we say about the result

Anna [14]

Answer:

d. The price will stay the same, but the quantity will increase.

Explanation:

When the demand and supply both fall, the equilibrium quantity will definately fall but the price will remain the same. The new supply adapts to the reduction of the demand.

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3 years ago

The standard rate of pay is $20 per direct labor hour. If the actual direct labor payroll was $117,600 for 6,000 direct labor ho

White raven [17]

Answer:

The variance is: $ 0.50 per direct labor hour.

Explanation:

Actual payroll = $117,000/6000h = $19.50 per hour

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3 years ago