On December 3, the Bengals sold a six-game pack of advance tickets for $3.240 cash, On...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
On December 3, the Bengals sold a six-game pack of advance tickets for $3.240 cash, On December 20, the Bengals played the first game of the six- game pack (this represented one-sixth of the advance ticket soles). Record the entry for the December 20 transaction: Multiple Choice Debit Cash $540, credit Ticket Revenue $540 Debit Prepaid Subscriptions $540, credit Ticket Revenue $540. Debit Prepaid Tickets $540, credit Unearned Revenue $540. Debit Uneamed Revenue $540, credit Cash $540. Debit Unearned Revenue $540, credit Ticket Revenue $540. On December 3, the Bengals sold a six-game pack of advance tickets for $3.240 cash, On December 20, the Bengals played the first game of the six- game pack (this represented one-sixth of the advance ticket soles). Record the entry for the December 20 transaction: Multiple Choice Debit Cash $540, credit Ticket Revenue $540 Debit Prepaid Subscriptions $540, credit Ticket Revenue $540. Debit Prepaid Tickets $540, credit Unearned Revenue $540. Debit Uneamed Revenue $540, credit Cash $540. Debit Unearned Revenue $540, credit Ticket Revenue $540.
Expert Answer:
Answer rating: 100% (QA)
Correct option is e As he sold the tickets in advance he has the ... View the full answer
Related Book For
Financial Accounting Information For Decisions
ISBN: 9781260705584
10th Edition
Authors: John J. Wild
Posted Date:
Students also viewed these accounting questions
-
Multiple Choice Questions 1. The journal entry to record the purchase of supplies on account a. Debits Supplies and credits Accounts Payable. b. Credits Supplies and debits Cash. c. Credits Supplies...
-
Multiple Choice Questions 1. A company should recognize revenue when: a. The revenue is earned b. The contract is signed c. The seller satisfies the performance obligation d. The consideration is...
-
Multiple Choice Questions 1. On December 1, 2015, Barnum Company (a U.S.-based company) entered into a three-month forward contract to purchase 1,000,000 ringgits on March 1, 2016. The following U.S....
-
Identify each of the following items as revenues, expenses, or withdrawals from the drop down provided. 1. Advertising expense 2. Consulting revenue 3. Rent expense 4. Rental income 5. Wages expense...
-
The following information was reported by three companies. When completing the requirements, assume that any and all purchases on account are for inventory. Required: 1. What amount did each company...
-
During 2022, Wendy sold low-income housing property for $320,000. Her original purchase price was $275,000, and she had properly deducted $148,500 of depreciation. What is the amount and character of...
-
Suppose an investor has utility function $U$. There are $n$ risky assets with rates of return $r_{i}, i=1,2, \ldots, n$, and one risk-free asset with rate of return $r_{f}$. The investor has initial...
-
Calculating Cash Flows Consider the following abbreviated financial statements for Parrot head Enterprises: a. What is owners?? equity for 2006 and 2007? b. What is the change in net working capital...
-
When Patey Pontoons issued 8% bonds on January 1, 2024, with a face amount of $780,000, the market yield for bonds of similar risk and maturity was 11%. The bonds mature December 31, 2027 (4 years)....
-
Throughout the course, you will be working on a Wealth Management Analyst Project For this project, imagine you are a new hire at a wealth management firm and tasked with determining the location of...
-
(a.) You have 5 years of annual returns and you have estimated the following single index model The data you have used was as follows Years Ri(t) = 1.68 +0.61 Rm(t) + Ei(t) 1 2 3 4 5 Return on...
-
A 190 gram glider sits on a level air track. There is a string attached to the glider that goes over a pulley and has a 50 gram mass hanger attached. Question Average together your two estimates of...
-
Your friend must make a $1,000 charge on his credit card to pay for car repairs and can only make the minimum payment for the next 3 months. Assume an APR of 15.99% and a required minimum payment of...
-
1. Let X =5, X2= 2, X3-3, X4=-5, X5-7. Please find the following sums. Please WRITE OUT what you will add. Start by writing out the sum using X, X2, X3, X4, and X5, and THEN plug in the numbers. Do...
-
What is the Multifactor productivity for the Blue Space Inc if they have the following data? Units produced: 5,000 Standard price: $30/unit Labor input: 500 hours Cost of labor: $25/hour Cost of...
-
For this activity, you'll research potential libraries or modules to use that are compatible with PythonAnywhere to help you script using the data required. Step 1: Find Compatible Libraries A client...
-
Explain how much force you would need to apply to determine the kinetic friction assuming the object was in motion. On a force vs. time plot, sketch how this might look and indicate where you would...
-
I frequently use NY Times and CNN and am aware of Fox News but I never use it. I visit these sites, NY Times and CNN, a few times a week whenever I have to research something or see something on...
-
Common categories of a classified balance sheet include Current Assets, Long-Term Investments, Plant Assets, Intangible Assets, Current Liabilities, and Long-Term Liabilities. For each of the...
-
Access EDGAR online (sec.gov/edgar) and locate the 2018 10-K report of Amazon.com (ticker: AMZN) filed on February 1, 2019. Review its financial statements reported for years ended 2018, 2017, and...
-
Refer to the 2018 balance sheet for Google in Appendix A. What is the par value per share of its preferred stock? Suggest a rationale for the amount of par value it assigned.
-
The circuit in Figure P32.96 represents your planned design for a wall power supply that will run a radio that usually runs on a 9-V battery. The power supply uses a transformer (not shown) to...
-
Your boss has purchased a new AC power source to run a high-voltage, low-current display, but it is not working. While he is fuming, you look at the owner's manual and discover that this power source...
-
Construct a phasor diagram representing the current and potential difference in Figure 32. 10 at \(t=T / 4, T / 2\), and \(3 T / 4\). Data from Figure 32.10 Ve maximum, current zero Ve minimum,...
Study smarter with the SolutionInn App