Ticketsales, Inc., receives $4,920,000 cash in advance ticket sales for a four-date tour of Bon Jovi....
Homework Answers
| Oct 31 | Cash | 4,920,00 | |
| Unearned Ticket Revenue | 4,920,000 | ||
| Nov 5 | Unearned Ticket Revenue | 1,230,000 | |
| Ticket Revenue | 1,230,000 | ||
| (4,920,000/4) |
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Ticketsales, Inc., receives $4,920,000 cash in advance ticket sales for a four-date tour of Bon Jovi....
Ticketsales, Inc., receives $6,840,000 cash in advance ticket sales for a four-date tour of Bon Jovi
QS 11-3 Unearned revenue LO C2 Ticketsales, Inc., receives $6,840,000 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. QS 11-3 Unearned revenue LO C2 Ticketsales, Inc., receives $6,840,000 cash in advance ticket sales for a four-date tour...
QS 9-3 Unearned revenue LO C2 Ticketsales, Inc, receives $5,520,000 cash in advance ticket sales for...
QS 9-3 Unearned revenue LO C2 Ticketsales, Inc, 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, Inc. initially records prepaid and unearned items in balance sheet accounts View transaction list Journal entry worksheet Record the cash receipt in advance of concerts Note: Enter...
QS 9-3 Unearned revenue LO C2
QS 9-3 Unearned revenue LO C2 Ticketsales Inc., receives $7160,000 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.
QS 9-3 Unearned revenue LO C2 Ticketsales, Inc., receives $6,360,000 cash in advance ticket sales for...
QS 9-3 Unearned revenue LO C2 Ticketsales, Inc., receives $6,360,000 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, Inc. initially records prepaid and unearned items in balance sheet accounts. Journal entry worksheet 1 2 > Record the cash receipt in advance of concerts. Note: Enter debits...
a. Tao Co. receives $11,800 cash in advance for four months of legal services on October...
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Above is the unadjusted trial balance. Gonzalez Technical Institute (GTI), a school owned by Maria Gonzalez,...
Above is the unadjusted trial balance.
Gonzalez Technical Institute (GTI), a school owned by Maria
Gonzalez, provides training to individuals who pay tuition directly
to the school. GTI also offers training to groups in off-site
locations. Its unadjusted trial balance as of December 31, 2018, is
found on the trial balance tab. GTI initially records prepaid
expenses and unearned revenues in balance sheet accounts.
Descriptions of items a through h that require adjusting entries on
December 31 follow.
An analysis...
Exercise 3-49 (Algorithmic) Prepayments, Collections in Advance Greensboro Properties Inc. owns a building in which it...
Exercise 3-49 (Algorithmic) Prepayments, Collections in Advance Greensboro Properties Inc. owns a building in which it leases office space to small businesses and professionals. During 2019, Greensboro Properties engaged in the following transactions: a. On March 1, Greensboro Properties pald $10,560 in advance to Patterson Insurance Company for 1 year of insurance beginning March 1, 2019. The full amount of ti prepayment was debited to prepaid insurance. b. On May 1, Greensboro Properties received $35,640 for 1 year's rent from...
QS 11-3 Unearned revenue LO C2 Ticketsales, Inc., receives $6,840,000 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. QS 11-3 Unearned revenue LO C2 Ticketsales, Inc., receives $6,840,000 cash in advance ticket sales for a four-date tour...
QS 9-3 Unearned revenue LO C2 Ticketsales, Inc, 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, Inc. initially records prepaid and unearned items in balance sheet accounts View transaction list Journal entry worksheet Record the cash receipt in advance of concerts Note: Enter...
QS 9-3 Unearned revenue LO C2 Ticketsales Inc., receives $7160,000 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.
QS 9-3 Unearned revenue LO C2 Ticketsales, Inc., receives $6,360,000 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, Inc. initially records prepaid and unearned items in balance sheet accounts. Journal entry worksheet 1 2 > Record the cash receipt in advance of concerts. Note: Enter debits...
a. Tao Co. receives $11,800 cash in advance for four months of legal services on October 1, 2017, and records it by debiting Cash and crediting Unearned Revenue both for $11,800. It is now December 31, 2017, and Tao has provided legal services as planned. What adjusting entry should Tao make to account for the work performed from October 1 through December 31, 2017? Unearned revenue Step 1: Determine what the current account balance equals. 4 Step 2: Determine what...
Trial Balance and Adjusting Entries Photomake, Inc., a commercial photography studio, has just completed its first full year of operations on December 31. The general ledger account balances before year-end adjustments follow. No adjusting entries have been made to the accounts at any time during the year. Assume that all balances are normal. Cash $2,365 Accounts Payable Accounts Receivable 4180 Unearned Photography Fees 2.860 26.400 Prepaid insurance 3.267 Photography Fees Eamed 37,928 Supplies 4,675 Wages Expense 12,100 Equipment 25.080 Utilities...
Above is the unadjusted trial balance.
Gonzalez Technical Institute (GTI), a school owned by Maria
Gonzalez, provides training to individuals who pay tuition directly
to the school. GTI also offers training to groups in off-site
locations. Its unadjusted trial balance as of December 31, 2018, is
found on the trial balance tab. GTI initially records prepaid
expenses and unearned revenues in balance sheet accounts.
Descriptions of items a through h that require adjusting entries on
December 31 follow.
An analysis...
Exercise 3-49 (Algorithmic) Prepayments, Collections in Advance Greensboro Properties Inc. owns a building in which it leases office space to small businesses and professionals. During 2019, Greensboro Properties engaged in the following transactions: a. On March 1, Greensboro Properties pald $10,560 in advance to Patterson Insurance Company for 1 year of insurance beginning March 1, 2019. The full amount of ti prepayment was debited to prepaid insurance. b. On May 1, Greensboro Properties received $35,640 for 1 year's rent from...
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