40 The Stors Theater offered books of theater tickets to its stras 500 per book Fach book contained a certain name The Stars The as at $30 per book. Each book contained a certain number of tickets to future performances During the current period 1.000 books were sold for $30,000, and this a et period 1.000 books were sold for $10.000 and his mount was credited to a temporary account. At the end of the period it was determined that $10,000 worth of book tickets had been used by customers attendin or o book tickets had been used by customers attendin e performances. The appropriate adjusting entry at the end of the period would be: Debit Uncarned Ticket Revenue 520,000 and credit Ticket Revenue $20,000 Debit Unearned Ticket Revenue $10,000 and credit Ticket Revenue S10,000. Debit Ticket Revenue 520.000 and credit Upeamed Ticket Revenue $20,000 Debit Ticket Revenue S10,000 and credit Uneamed Ticket Revenue $10,000 None of the above E Use the following data for the next questions Fred Company reports these account balances January 1, 2011 Accounts Payable $ 70,000 Land 62,000 Equipment 88,000 Cash 55.000 Accounts Receivable 80,000 Accumulated Depreciation 50,000 Buildings 110,000 Common Stock 180,000 Retained Earings 75,000 Uneamed Revenue 20,000 On January 2, 2011, Fred (1) collected $16,000 in additional uneamed revenue to be carned in the future. (2) paid $5,000 of its accounts payable, and (3) sold 520,000 of additional shares of common stock 41. In a trial balance prepared at January 1, 2011, the total of the debit column is: $375,000 $345,000 C. $415,000 D. $395.000 None of the above. 42 In a trial balance prepared at January 2, 2011 (after the three transactions above were recorded) the total of the debit column is $415,000 S411,000 5404,000 $426,000 None of the above 43. B On January 2, 2011, the balance sheet (after the three transactions above were recorded) would balance at $404,000 $376,000 $365,000 $361,000 None of the above