contestada

Fugazi City College sold season tickets for the 2013 football season for $200,000. A total of 8 games will be played during September, October and November. In September, three games were played. The adjusting journal entry at September 30:a. will include a debit to Ticket Revenue and a credit to Unearned Ticket Revenue for $80,000.b. is not required. No adjusting entries will be made until the end of the season in November.c. will include a debit to Cash and a credit to Ticket Revenue for $60,000.d. will include a debit to Unearned Ticket Revenue and a credit to Ticket Revenue for $90,000.

Respuesta :

Explanation:

The adjusting journal entry is presented below:

On  September 30

Unearned ticket revenue A/c Dr $75,000

        To Ticket revenue A/c $75,000

(Being the unearned ticked revenue is recorded)

The computation is shown below:

= Season tickets sale value × number of games ÷ given number of gains

= $200,000 × 3 games  ÷ 8 games

= $75,000

Otras preguntas