Calculate the theater earned revenue

Assignment Help Accounting Basics
Reference no: EM131715103

Question - Kirkland Theater sells season tickets for six events at a price of $180. In pricing the tickets, the planners assigned the leadoff event a value of $45 because the program was an expensive symphony orchestra. The last five events were priced equally; 1,500 season tickets were sold for the 2016 season.

Required:

a. Calculate the theater's earned revenue after the first three events have been presented

b. About 95% of the season ticket holders attended the first event. Subsequent events were attended by about 80% of the season ticket holders. To what extent, if any, should the attendance data impact revenue recognition? Explain your answer.

Reference no: EM131715103

Questions Cloud

Discuss how much money will she accumulate in the account : Use above data: If she expects to live another 20 years from the time she retires at age 65, and assuming she earn 9% on her account
Are the signs of friendship the same everywhere : Are the signs of friendship the same everywhere? To what do friendships obligate you in the U.S.? Are the obligations the same in other cultures?
How might given article impact your future job prospects : Why does it interest you? Should it interest people beyond your chosen field? Does it impact the greater society? How might it impact your future job prospects?
Discuss what is the amount of the september collections : ABC's last dividend paid was $2.5, its required return is 22%, its growth rate is 4%. What is ABC's expected stock price in 9 years
Calculate the theater earned revenue : Kirkland Theater sells season tickets for six events at a price of $180. Calculate the theater's earned revenue after the first three events have been presented
How will survey design affect regression analysis of data : How will your survey design affect the regression analysis of the data? How do you propose to analyze the data? Are there other explanatory variables.
Discuss the abc company report on the balance sheet : How much should the ABC Company report on the balance sheet for the investment in Ronco at the end of 2016
Risks of locating a manufacturing operation : Discuss at least to ways your firm can reduce the risks of locating a manufacturing operation in a foreign country. One hundred words cite work.
Perform the calculation for air concentration : Perform the calculation for air concentration - Discuss the similarities and differences that exist between the three basic types of occupational

Reviews

Write a Review

Accounting Basics Questions & Answers

  What does intrusion detection software do

What does intrusion detection software do? What are some of the issues with the use of this software?

  Problem related to marginal tax rate

Julio, age 50, is a U.S. citizen who has a 28% marginal tax rate. He has operated the A&B Automotive Parts Company for a number of years as a C corporation.

  Describe effect of alternative transfer-pricing methods

Multinational transfer pricing, effect of alternative transfer-pricing methods, global income tax minimization. Tech Friendly Computer, Inc., with headquarters.

  Sandy and john via 12 maple avenue albany ny 12205 are

sandy and john via 12 maple avenue albany ny 12205 are married file a joint federal income tax return and have a

  What expenditures deductible for self-employed individual

What expenditures are deductible for self-employed individuals but are not deductible for employees? Discuss why there would be this distinction.

  What is ibm price to earnings ratio

What is IBM's price to earnings ratio for 2015? (NOTE-use the TOTAL earnings per share assuming dilution

  Determine the appropriate inventory and cost of goods sold

Create a table showing the balances presently reported for Inventory and Cost of Goods Sold, and then displaying the adjustment(s) needed to correctly account for each of items (a) and (d), and finally determining the appropriate Inventory and Cost o..

  Knowledge of accounting concepts-terminology

Why is a knowledge of accounting concepts and terminology useful to anyone in a business activity?

  Explain in general terms the accounting treatment

Accounting Homework:   Explain in general terms the accounting treatment to changes in terms of existing loans.  What should be the accounting treatment of the modification to Blueberry's note?

  Examine two benefits of using sensitivity analysis

Examine two benefits of using sensitivity analysis in evaluating the projects for your selected company. Suggest how this approach can provide a competitive advantage for the company.

  Explain the rationale behind the accounting method

Jack Kelly Company has grown rapidly since its founding in 2004. To instill loyalty in its employees, Kelly is contemplating establishment of a defined benefit.

  Compensation to make up for the hours

Is Sanchez Printers proceeding legally by requiring its employees to work extra hours without compensation to make up for the hours lost on the Friday holiday? Explain.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd