Answer:
October 31 Cash $5,000,000 Dr
Unearned ticket Revenue $5,000,000 Cr
November 5 Unearned ticket revenue $1,250,000 Dr
Ticket Revenue $1,250,000 Cr
Explanation:
The ticket revenue is earned in advance and is not earned yet. Thus, the entry to record the receipt of ticket revenue in advance will increase the cash and cause a debit to the cash account of the total amount of revenue received. The concerts are yet to be done so it is unearned revenue and is a liability for the company. Thus, there will be a credit to unearned ticket revenue for the amount of cash received.
When the first concert is done, one fourth of the revenue is earned so it will cause a debit to unearned service revenue for 5000000 / 4 = 1250000 and a credit to the service revenue of 1250000
Answer:
Normally Distributed Populations
For samples of any size drawn from a normally distributed population, the sample mean is normally distributed, with mean μX=μ and standard deviation σX=σ/√n, where n is the sample size.
Answer:
$25
Explanation:
Premise 1: the $1,500 withheld by the employer qualifies as a prepayment because it will be remitted to the government
Premise 2: Since Tiffany is not married, she is allowed the $2000 child tax credit for her qualifying child.
Therefore
1. Income Tax Liability for Tiffany $3,525
2. Any other Tax 0
3. Child tax credits ($2,000)
4. Withheld By Employer in tax prepayment ($1,500)
Tiffany's tax due with returns $25
Answer:
Legal Risk
Explanation:
Legal risk are damage, financial, reputational losses or any other form of loss received by a business due to negligence in compliance with the law related to the business. They are prospective fines or loses that a business or an organization receives for not complying with the business law and regulations.
In this case, the prospective loss could come by associating with Azpak limited which have inadequate protection of intellectual property rights.
Answer:Sideward Influence
Explanation:
Sideward Influence involves managing the project manager's peers to ensure collaboration, rather than competition.
It is however important to clarify their requirements of the project and their impacts on the project as separate groups.
