Kirkland Theater sells season tickets for six events at a price of $94. In pricing the tickets,
Question:
Kirkland Theater sells season tickets for six events at a price of $94. In pricing the tickets, the planners assigned the leadoff event a value of $21 because the program was an expensive symphony orchestra. The last five events were priced equally; 1,320 season tickets were sold for the 2016 season.
Required:
a. Calculate the theater's earned revenue after the first three events have been presented. (Do not round intermediate calculations.)
b. About 95% of the season ticket holders attended the first event. Subsequent events were attended by about 76% of the season ticket holders. Would the attendance data impact revenue recognition?
multiple choice
Yes
No
Accounting What the Numbers Mean
ISBN: 978-0073527062
9th Edition
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele,