r USF NetD M EMAL O U 12e ? leyPLUS Help I RCES Season tickets for the Dingos ar
ID: 2519091 • Letter: R
Question
r USF NetD M EMAL O U 12e ? leyPLUS Help I RCES Season tickets for the Dingos are priced at $380 and include 19 home games. An equal amount of revenue is recognized after each game is played. When the en began, the amount created to unnamed Ticket Revenue was szon,ooo. iby the end of October, si,526000 of the unearned Ticket Revenue had been ? (a) ?Your answer is correct. How many season tickets did the Dingos sell Season tickets sold by Dingos Click if you would like to Show Work for this question: Open Show Work Attempts: 1 of 15 used ? (b)Explanation / Answer
(a) How many season tickets did the Dingos sell ?
$2071000 / 380 = 5450 Tickets
(b) How many home games had the Dingos played by the end of October?
380 / 19 = $20 per game per ticket
20 x 5,450 = $109000 revenue recognized per game
Home Games Played = $1526000 / $109000 = 14 games
(c) Prepare the entry for the initial recording of the Unearned Ticket Revenue.
Dr Cash A/c $ 20,71,000
Cr Unearned Ticket Revenue A/c $ 20,71,000
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