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k0ka [10]
3 years ago
8

Trinity College sold season tickets for the 2019 football season for $400,000. A total of 8 games will be played during Septembe

r, October and November. In September, two games were played. In October, three games were played. What is the balance in Unearned Ticket Revenue as of October 31 (after adjusting entries has been made)?
Business
2 answers:
BabaBlast [244]3 years ago
8 0

Answer:

$150,000

Explanation:

Monthly revenue = Total revenue × (Number of games played in a month ÷ Total number of games expected to be played for the three months)

We can then proceed as follows:

September ticket revenue = $400,000 × (2 ÷ 8) = $100,000

October ticket revenue = $400,000 × (3 ÷ 8) = $150,000

Number of games yet to be played = 8 - 2 - 3 = 3

Unearned Ticket Revenue = Total revenue - September ticket revenue - October ticket revenue = $400,000 - $100,000 - $150,000 = $150,000

Therefore, the balance in Unearned Ticket Revenue as of October 31 (after adjusting entries has been made) is $150,000.

Softa [21]3 years ago
3 0

Answer:

Trinity College sold 8 Games of ticket in $400,000  

Till October 31 the game sorted out = 5 for example (2+3)  

Measure of unmerited income on October 31

Unearned ticket revenue = (Amount received in advance × remaining month) / total month

Unearned ticket revenue = ($400,000 × 3) / 8

Unearned ticket revenue = $150,000

Adjusting Journal entry on October 31:

Debit: Unearned revenue = $250,000

Credit: Revenue = $250,000

(To record transfer of unearned revenue, to revenue account)

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2 years ago
When the market rate is 8%, a company issues $50,000 of 9%, 10-year bonds and pay interest semiannually for a selling price of $
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6 0
3 years ago
Suppose a perfectly competitive firm is producing 37 units output, and the marginal cost of the 37th unit is $3. If the firm can
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Answer:

C) increase production.

Explanation:

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6 0
3 years ago
The Converting Department of Hopkinsville Company had 640 units in work in process at the beginning of the period, which were 70
pav-90 [236]

Answer:

Whole units 14,320

Direct materials equivalent units 13,680

Conversion costs equivalent units 13,332

Explanation:

Calculation to Determine the number of equivalent units of production with respect to direct materials and conversion costs.

Hopkinsville Company Number of Equivalent Units of Production

WHOLE UNITS

Inventory in process, beginning 640

Started and completed 12,960

(13,600-640)

Transferred to Packing Department 13,600

(640+12,960)

Inventory in Process ending 720

Total 14,320

(13,600+720)

DIRECT MATERIALS EQUIVALENT UNITS

Inventory in process, beginning 0

Started and completed 12,960

(13,600-640)

Transferred to Packing Department 12,960

Inventory in Process ending 720

Total 13,680

(12,960+720)

CONVERSION EQUIVALENT UNITS

Inventory in process, beginning 192

[640-(640*70%)]

Started and completed 12,960

(13,600-640)

Transferred to Packing Department 13,152

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Inventory in Process ending 180

(720*25%)

Total 13,332

(13,152+180)

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2 years ago
If a team uses wikis to collaborate on a​ report, the editing and upgrading of information should be done by​ __________.
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The answer to this question is the letter "E" which is the "anyone in the organization". Wiki is a blog or a website where anyone in the organization is allowed to access it to view and access materials and edit it. Hence, is a team uses wikis to collaborate on a report, the editing and updating of the report should be done by anyone in the organization.
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3 years ago
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