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Accounting: What the Numbers Mean 11th Edition by Wayne McManus,Daniel Viele,David Marshall
Edition 11ISBN: 978-1259535314Accounting: What the Numbers Mean 11th Edition by Wayne McManus,Daniel Viele,David Marshall
Edition 11ISBN: 978-1259535314 Exercise 32
Unearned revenues-ticket sales Kirkland Theater sells season tickets for six events at a price of $189. For the 2016 season, 1,200 season tickets were sold.
Required:
a. Use the horizontal model (or write the journal entry) to show the effect of the sale of the 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 performances not yet presented be classified?
Required:
a. Use the horizontal model (or write the journal entry) to show the effect of the sale of the 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 performances not yet presented be classified?
Explanation
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The accounting concepts and principles g...
Accounting: What the Numbers Mean 11th Edition by Wayne McManus,Daniel Viele,David Marshall
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