Use the horizontal model, Unearned revenues

Use the horizontal model

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Reference no: EM13127625

Unearned revenues - ticket sales. Kirkland theater sells season tickets for six events at price of $252. For the 2010 season, 1200 season tickets were sold.

Required:
a. Use the horizontal model (or write the journal entry)to show the effect of the sale season tickets.
b. Use the horizontal model (or write the journal entry) to show the effect of presenting an event.
c. Where on the balance sheet would the account balance representing funds received for performes not yet presented be classisfied?

Reference no: EM13127625

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