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.
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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.
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- A ticket agency receives $40,000 cash in advance ticket sales for Haim’s upcoming four-date tour. Record the advance ticket sales on April 30. Record the revenue earned for the first concert date of May 15, assuming it represents one-fourth of the advance ticket sales.Ticketsales, Incorporated, 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, Incorporated initially records prepaid and unearned items in balance sheet accounts. journal entry worksheet Record the cash receipt in advance of concerts. Record the concert revenues earned.Ticketsales, Inc., receives $7,160,000 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.
- Ticketsales, Incorporated, receives $5,680,000 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, Incorporated initially records prepaid and unearned items in balance sheet accounts.Ticketsales, Incorporated, receives $4, 040, 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, Incorporated initially records prepaid and unearned items in balance sheet accounts. Journal entry worksheet 12 Record the cash receipt in advance of concerts. Note: Enter debits before credits..Summit Incorporated operates a concert series that has monthly fixed expense of $7,000. In addition, the company pays distributors $4.00 per ticket sold. The following chart shows the number of tickets Summit expects to sell during the year. January February March 1,200 1,000 1,100 April May June 600 1,100 1,000 Assume Summit wants to earn $5.00 per concert attendee. How much should the company charge for a ticket in January? July August September October November December Total 1,700 1,100 900 1,000 500 800 12,000
- Ticketsales, Incorporated, receives $5,520,000 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, Incorporated initially records prepaid and unearned items in balance sheet accounts. View transaction list Journal entry worksheet 1 2 Record the cash receipt in advance of concerts. Note: Enter debits before credits. Date October 31 Record entry General Journal Clear entry Debit Credit View general journal > SavedTicketsales, Incorporated, receives $5,360,000 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, Incorporated initially records prepaid and unearned items in balance sheet accounts. View transaction list Journal entry worksheet 1 2 Record the cash receipt in advance of concerts. Note: Enter debits before credits. Date October 31 General Journal Debit Credit >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?
- Garda purchased $600,000 of merchandise in August and expects to purchase $720,000 in September. Merchandise purchases are paid as follows: 25% in the month of purchase and 75% in the following month. Compute cash payments for merchandise for September.A local theater company sells 1,000 season ticket packages at a price of $255 per package. The first show in the ten-show season starts this week. (a) The sale of the season tickets before the first show. (b) The revenue earned after putting on the first show.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.