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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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Answer:

Assume that the Plow back Ratio is 50

Now,

To Compute the growth rate;

Growth rate = Return on equity × Plow back ratio

Growth rate = 10% × 0.50

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Computation of the stock price.

Stock price = Dividend pa share / (Required rate - Growth rate)

Stock price = Earnings pa share × (1 - Plow back ratio) / (Required rate -Growth rate)

Stock price = $4 × (1 - 0.50) / (10% - 5.00%)

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Stock price = $40

Computation of the P/E ratio.

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3 years ago
Consider an economy with only two goods: bread and wine. In the base year, the typicalfamily bought 4 loaves of bread at $2 per
Inessa05 [86]

Answer:

The CPI for the given year is 123.

Explanation:

Consumer price index (CPI)

=\frac{\textrm{cost at given year}}{\textrm{cost at  base year}}

In the base year, the typical family bought 4 loaves of bread at $2 per loaf and 2 bottles of wine for $ 9 per bottle.

Cost at base year =$[(4×2)+(2×9)]

                             =$26

In a given year, bread cost $3 per loaf and wine cost $10 per bottle.

Cost at given year =$[(4×3)+(2×10)]

                              =$32

The CPI for the given year is

=\frac {32}{26}\times 100

≈123

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3 years ago
malek jones, a business analyst at the vnh corporation, feels that his employer terminated him for no reason. although the compa
antiseptic1488 [7]

Constitutions and, more specifically, anti-discrimination statutes represent public policy about equal employment opportunity (EEO).

These laws are in place at the federal, state, and local levels in the United States.

In terms of the employers or other entities they cover, the specific groups of people they defend, the transactions they regulate, and the kind and scope of legal remedies they offer, EEO laws differ widely from one location to another. When businesses engage employees, the philosophical idea of EEO is implied, at the very least.

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8 0
1 year ago
What is a disadvantage of using credit?
Rom4ik [11]
Not being able to pay it off is a big one.
 
5 0
3 years ago
Read 2 more answers
Manistee Corporation reported taxable income of $1,200,000 this year and paid federal income taxes of $408,000. Not included in
Nikitich [7]

Answer:

corporation current earning and profits = $737000

Explanation:

given data

taxable income = $1,200,000

paid federal income taxes = $408,000

entertainment expenses = $25,000

tax-exempt interest = $20,000

net capital loss = $50,000

solution

we get here corporation current earning and profits that will be as

corporation current earnings and profits = taxable income - paid federal income taxes - entertainment expenses + tax-exempt interest - net capital loss   ................1

put here value we get

corporation current earning and profits = $1,200,000 - $408,000 -$25,000

+ $20,000 - $50,000

corporation current earning and profits = $737000

4 0
3 years ago
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