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viktelen [127]
3 years ago
8

Larkspur University sells 4,800 season basketball tickets at $60 each for the entire 15-game home schedule. (a) Give the entry t

o record the sale of the season tickets. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Business
1 answer:
snow_tiger [21]3 years ago
5 0

Answer:

The Journal entry is as follows:

Cash A/c                    Dr. $288,000

To Unearned basketball ticket revenue A/c     $288,000

(To record the sale of the season tickets)

Workings:

Given that,

Total number of tickets sold = 4,800

Selling price of ticket = $60 each

Cash = season basketball tickets sold × Selling price of each ticket

        =  4,800 tickets × $60 per ticket

        = $288,000

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According to the principle of comparative advantage, worldwide output and consumption will be higher when nations specialize in
Alex_Xolod [135]

Answer: According to the principle of comparative advantage, worldwide output and consumption will be higher when nations specialize in the production of those goods and services  "a. they can provide at a lower opportunity costs."

Explanation: The comparative advantage is the ability of a country to produce a good using relatively less resources than another. The theory of comparative advantages says that Each country in question will specialize in what is most efficient. At the same time, it will import the rest of the products in which they are most ineffective in terms of production. Although a country does not have an absolute advantage in producing any good, it may specialize in those goods in which it finds a greater comparative advantage and finally be able to participate in the international market.

5 0
3 years ago
Belinda is in charge of both accounting and investments and all of the employees involved with these functions at her firm. Beli
Andrej [43]

Belinda is in charge of both accounting and investments and all of the employees involved with these functions at her firm. Belinda is "Financial Manager".

<h3>Who is financial manager?</h3>

Financial manager examine financial information compiled by accountants, keep track of the company's financial situation, and create and carry out financial strategies.

The roles of financial manager are-

  • creating reliable financial information and reports
  • cash flow statements being created
  • estimating a profit
  • controlling credit
  • giving guidance on financial decision-making
  • investing guidance
  • generating financial projections
  • Budgeting

Therefore, one of the most crucial duties of business owners and managers is financial management.

To know more about accounting, here

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3 0
2 years ago
Describe in detail the goals you have for this unit. 2. describe how this unit will help you in your professional development .
egoroff_w [7]
I fjjrheyjyjyjrybegfvqvdgdhtbey
6 0
3 years ago
2) You purchase one MBI July 125 call contract (equaling 100 shares) for a premium of $5. You hold the option until the expirati
PtichkaEL [24]

Answer:

D) $500 loss

Explanation:

The computation of the realized value on the investment is shown below:

= Number of shares × premium

= 100 shares × $5

= $500 loss

Since the call is for 125 shares for $125 and the selling price per share is $123  due to which the contract is not implemented. So the premium amount would be recorded as a loss of $500

8 0
3 years ago
A large-scale bakery is laying out a new production process for its packaged bread, which it sells to several grocery chains. It
Nataliya [291]

Answer:

840 breads size oven.

Explanation:

According to Little's law,

Inventory = flow rate × flow time

Inventory (I) is the number of flow units that are currently handled by a business process.

I= unknown

Flow rate (R) is the number of flow units going through the business process per unit time.

R= 4200 breads per hour or 70 breads per minute (4200/60)

Flow time (T) is the amount of time a flow unit spends in a business process from beginning to end.

T= 12 minutes.

Inventory = flow rate × flow time

Inventory = 70 breads per minute × 12 minutes

Inventory = 840 breads size oven

Therefore, for the company to produce 4200 breads per minute, 840 breads size oven is required.

4 0
3 years ago
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