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
yanalaym [24]
2 years ago
8

Season tickets for the Dingos are priced at $340 and include 17 home games. An equal amount of revenue is recognized after each

game is played. When the season began, the amount credited to Unearned Ticket Revenue was $1,819,000. By the end of October, $1,284,000 of the Unearned Ticket Revenue had been recognized as revenue.
Required:
a. How many season tickets did the Dingos sell?
b. How many home games had the Dingos played by the end of October?
c. Prepare the entry to recognize the revenue after the first home game had been played.
Business
1 answer:
Vsevolod [243]2 years ago
6 0

Answer:

Season tickets sold = $1,819,000 / $340

Season tickets sold = 5,350 tickets

Games played by the end of October = [$1,284,000 / ($1,819,000 / 17 games)]

Games played by the end of October = $1,284,000 / 107,000

Games played by the end of October = 12 games

Journal Entry to record initial sale of ticket

Accounts title                            Debit             Credit

Cash                                      $1,819,000

Unearned Ticket revenue                          $1,819,000

Journal Entry to record first home game revenue

Accounts title                            Debit         Credit

Unearned Ticket revenue    $107,000  

Ticket revenue (earned)                          $107,000

You might be interested in
Suppose an assistant professor of economics is earning a salary of $75,000 per year. One day she quits her job, sells $100,000 w
Akimi4 [234]

Answer:

Economic profit  $10,000

Explanation:

Income earned as an assistant professor = Salary + Interest on bonds = 75000 + 5% on 100,000 = 75000 + 5000

Income earned as an assistant professor = $80,000

Income from the bookstrore = $90,000

In calculating economic profit, opportunity costs are deducted from revenues earned.

Economic profit = $90,000 - $80,000 = $10,000

4 0
3 years ago
A ___________ is who a creditor may turn the account over to after exhausting its efforts to get a consumer to make past-due pay
dmitriy555 [2]

Answer: collection agency

Explanation:

7 0
2 years ago
Sanjeev leases a house from Clara, and the lease has an option contract attached that permits Sanjeev to buy the house if he cho
Aleksandr-060686 [28]

The amount of the option fee need to be on amount agreed to by the parties in order to be legally binding.

<h3>What is a lease agreement?</h3>

A lease agreement is a legal arrangement whereby a person give another person the right to possess the land for use in return for a periodic compensation.

However, the lease agreement can lead to permanent purchase, based on the agreement of the lease.

In conclusion, the amount of the option fee need to be on amount agreed to by the parties in order to be legally binding.

Read more about lease agreement

<em>brainly.com/question/24460932</em>

8 0
2 years ago
What is from utility
ella [17]

Explanation:

Refers to how well a product or service meets the customer's needs

3 0
3 years ago
You put half of your money in a stock portfolio that has an expected return of 14% and a standard deviation of 24%. you put the
irinina [24]
I got u need help or nah
7 0
3 years ago
Other questions:
  • You want a seat on the board of directors of Four Keys, Inc. The company has 240,000 shares of stock outstanding and the stock s
    12·1 answer
  • As brett prepares to open his new business, he has identified the tasks that need to be accomplished and has assigned employees
    12·1 answer
  • Multinational companies (MNCs) have found that cross-functional coordination results in people spending more time within their f
    6·1 answer
  • Which form of business ownership is the most complex and difficult to form, and why?
    7·1 answer
  • An 85-year old risk averse investor is not happy about the minimal return she is earning on her current investments. She is stre
    8·1 answer
  • Compute the Cost of Goods Sold for 2016 using the following information:Direct Materials, Jan. 1, 2016 $40,000Work-in-Process, D
    11·1 answer
  • Technical Performance Measures should be selected for those parameters that: [Use Technical Performance Measures to track progre
    8·1 answer
  • Which of the following statements about government regulation of business is true?
    12·2 answers
  • Sigma Corporation applies overhead cost to jobs on the basis of direct labor cost. Job V, which was started and completed during
    8·1 answer
  • Think of an example of a time that you experienced or that you heard about when consumer perception influenced demand. What were
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!