2. Where on the balance sheet would the account balance representing funds received for performances not yet presented be classified?

Current liability

Current asset

(The following information applies to the questions displayed below, Kirkland Theater sells season tickets for six events at a price of $48. For the 2016 season, 1380 season tickets were sold. Required information Required: a-1. Use the horizontal model to show the effect of the sale of the season tickets. (Use amounts with + for increases and amounts with for decreases.) Balance Sheet Assets Liabilities Net Income Income Statement Revenues - - Expenses + Stockholders' Equity