Maurice Tutor

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    Argosy University/ Phoniex University/
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Category > Accounting Posted 13 Sep 2017 My Price 7.00

revenues Kirkland Theater

Calculate earned revenues Kirkland Theater sells season tickets for six events at a price of $240. In pricing the tickets, the planners assigned the leadoff event a value of $60 because the program was an expensive symphony orchestra. The last five events were priced equally; 1,500 season tickets were sold for the 2013 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.

Answers

Maurice Tutor
(5)
Status NEW Posted 13 Sep 2017 11:09 AM My Price 7.00

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