1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
morpeh [17]
3 years ago
6

Ticketsales, Inc., receives $7,720,000 cash in advance ticket sales for a four-date tour of Bon Jovi. Record the advance ticket

sales on October 31. Record the revenue earned for the first concert date of November 5, assuming it represents one-fourth of the advance ticket sales. Ticketsales, Inc. initially records prepaid and unearned items in balance sheet accounts.
View transaction list Journal entry worksheet Record the concert revenues earned. Note: Enter debits before credits. Debit Credit General Journal Date Nov 05
Business
1 answer:
kvasek [131]3 years ago
5 0

Answer:

When revenue has been received but the service has not been rendered, the revenue will not be recognized and will instead be treated as a liability called unearned revenue.

Date                   Account Title                                          Debit               Credit

Oct. 31                Cash                                                   $7,720,000

                           Unearned Ticket revenue                                      $7,720,000

Date                    Account Title                                         Debit               Credit

Nov. 5                  Unearned Ticket Revenue             $1,930,000

                          Ticket Revenue                                                   $1,930,000

<u>Working </u>

Ticket revenue = 1/4 * 7,720,000

= $1,930,000

You might be interested in
What is the yield to maturity (YTM) on a share of Six Flags B $1.81 preferred stock if an investor buys the stock at the followi
Roman55 [17]

Answer:

Answer is given below.

Explanation:

Preferred stock yield = dividend/ stock price

a) dividend =$1.81 , stock price =$30

Preferred stock yield = $1.81/$30= 6.033%

b) dividend =$1.81 , stock price =$25

Preferred stock yield = $1.81/$25=7.24 %

8 0
2 years ago
Analyze the benefits and the problems posed by the four approaches to the implementation of resource management policies: contro
Mars2501 [29]

Answer:

Explanation: The implementation of resource management policies can be achieved through the following: control theory, machine learning, utility-based, and market-oriented method.

1. Control theory:

Benefit- it can analyse linear and non linear systems, single or multiple systems.

Problem- It is complex and requires multiple computations

2. Machine learning Theory:

Benefit- It does not sole depend on extracting information and it gives room for improvements. It performs routine and non routine tasks

Problem- It requires a complex to understand and need trained professional to operate it.

3. Utility-based method:

Benefit - It gives urgency to tasks, it gives users better satisfaction.

Problem- the tasks needs to be carried out continuously

4. Market-oriented method:

Benefit - it gives room to know and understand the market, it leads to an increased organisational performance.

Problem- requires a professional.

8 0
3 years ago
Investigators who are interested in studying attitudes and would like to gain a lot of information very quickly are likely to us
Alona [7]
<span>Investigators who are interested in studying attitudes and would like to gain a lot of information very quickly are likely to use self report.<span>

It uses survey, questionnaire, or poll to help experimenter to gain knowledge about the participant's feelings, attitudes, beliefs and so on.</span></span>
7 0
2 years ago
The restocking level increases as the service level falls. <br> a. True <br> b. False
Igoryamba
False is the correct answer
4 0
3 years ago
Why would someone choose to start a franchise business?
Rom4ik [11]

Answer:

The franchise organization model offers the franchisee the ability to grow under a common brand and share in the benefits of a larger group of business owners. ... Training from successful business operators. A lower risk of failure and/or loss of investments than if you were to start your own business from scratch.

6 0
3 years ago
Other questions:
  • A person who has always enjoyed cooking may decide in late adulthood to have fewer elaborate dinner parties because they require
    10·1 answer
  • What is the chief disadvantage of the sole proprietorship as a form of business organization when compared to the corporate​ for
    12·1 answer
  • Given the following data for Glennon Company, compute (A) total manufacturing costs and (B) costs of goods manufactured: Direct
    15·1 answer
  • A clothing manufacturer produces clothing in five locations in the U. S. In a move to vertical integration, the company is plann
    9·1 answer
  • Suppose all the producers sell toasters through Wal-Mart, and WalMart lets producers choose from 2 options. With Option A, a pro
    9·1 answer
  • ValiantCorp is a C corporation that earned$ 3.90 per share before it paid any taxes. ValiantCorp retained​ $1 of after tax earni
    9·2 answers
  • Which of the following best defines health insurance? (1 point)
    7·1 answer
  • This may also be asked as "Why are you looking for a job?" This question can make the most seasoned interviewee squirm a little
    11·1 answer
  • As an investor, what is the risk involved when investing in companies on the stock
    6·1 answer
  • 40 points easy question
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!