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Season tickets for the Dingos are priced at $440 and include 22 home games. An equal amount of revenue is recognized after ea
Prepare the entry for the initial recording of the Unearned Ticket Revenue. (Credit account titles are automatically indented
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Answer #1

Answer 1

Season tickets sold by Dingos = 5,600 tickets

Calculations:

Season tickets sold by Dingos = $2464,000 / $ 440

= 5,600 tickets

Answer 2

Home games played = 17

Calculations:

Home games played = $ 1,904,000 / 2,464,000 * 22

Home games played = 17

Answer 3

Particulars Debit Credit
Bank A/c $   2,464,000
Unearned Revenue A/c $   2,464,000

Answer 4

Particulars Debit Credit
Unearned Revenue A/c $   1,904,000
Revenue A/c $   1,904,000

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