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- Season tickets for the Dingos are priced at $420 and include 21 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 $2,331,000. By the end of October, $1,776,000 of the Unearned Ticket Revenue had been recognized as revenue. 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 for the initial recording of the Unearned Ticket Revenue. Account Titles and Explanation Debit Credit enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount d.) Prepare the entry to recognize the revenue after the first home game had been played. Account Titles and Explanation Debit Credit enter an account title enter a debit amount enter a credit amount enter an account title enter a debit…Season tickets for the Dingos are priced at $220 and include 11 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 $1,287,000. By the end of October, $702,000 of the Unearned Ticket Revenue had been recognized as revenue. A. how many season tickets did the dingos sell? - 5850 B. How many home games had the dingos played by the end of October? C. Prepare the entry for the initial recording of the Unearned Ticket Revenue D. Prepare the entry to recognize the revenue after the first home game had been played.The Cougars football team sells season tickets in advance for $480 each. The season consists of 16 games. Half of these games are home games, and half of them are away games. For Year 3, the team has sold and collected payment for 10,000 season tickets. Through November 30, Year 3, six home games and five away games have been played. How much of the revenue collected in advance should be recognized on the income statement for the 11 months ended November 30, Year 3?
- Swifty University sells 4,100 season basketball tickets at $240 each for its 15-game home schedule. Give the entry to record (a) the sale of the season tickets and (b) the revenue recognized by playing the first home game.Derby university sells 5900 season basketball tickets at $280 each for its 14 game home schedule. Give the entry to record the sale of the season tickets and b) the revenue recognized by playing the first home game.Florida College sold season tickets for the 2022 football season for $240,000. A total of eight games will be played during September, October, and November. In September, two games were played. In October, three games were played. The balance in Unearned Ticket Revenue at October 31 is a $60,000. b $0. c $90,000. d $150,000.
- A local theater company sells 1,500 season ticket packages at a price of $250 per package. The firstshow in the ten-show season starts this week. Show the accounting equation effects and prepare thejournal entries related to ( a ) the sale of the season tickets before the first show and ( b ) the revenueearned after putting on the first show.Southwestern City College sold season tickets for the 2011 football season for $180,000. A total of 8 games will be played during September, October and November. Assuming all the games are played, the Unearned Revenue balance that will be reported on the December 31 statement of financial position will beOn November 1, Year 1, Hydra Corp sold 100 machines to a customer for $60 each. The cost of each machine is $20.Hydra allows customers to return any unused machine within 6 months and receive a full refund. The company reasonably estimates that 10 machines (seven in Year 1, three in Year 2) will be returned. What amount of net revenue is recognized from the sale of these machines in Year 1?
- Ticketsales, Inc., receives $5,000,000 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.Concord City College sold season tickets for the 2020 football season for $266000. A total of 8 games will be played during September, October and November. Assuming all the games are played, the Unearned Ticket Revenue balance that will be reported on the December 31 balance sheet will be O so. O $266000. O $166250. O $99750.1. On July 15, Piper Company sold $16,000 of merchandise (costing $8,000) for cash. The sales tax rate is 4%. On August 1, Piper sent the sales tax collected from the sale to the government.2. On November 3, the Milwaukee Bucks sold a six-game pack of advance tickets for $480 cash. On November 20, the Bucks played the first game of the six-game pack (this represented one-sixth of the advance ticket sales). 1. Record entries for the July 15 and August 1 transactions.2. Record the entries for the November 3 and November 20 transactions.