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Kirkland Theater sells season tickets for six events at a price of $96. In pricing the tickets, the planners assigned the leadoff event a
Kirkland Theater sells season tickets for six events at a price of $96. In pricing the tickets, the planners assigned the leadoff event a value of $24 because the program was an expensive symphony orchestra. The last five events were priced equally, 1,070 season tickets were sold for the 2016 season. Required: a. Calculate the theater's earned revenue after the first three events have been presented. (Do not round intermediate calculations.) Revenue earned b. About 91% of the season ticket holders attended the first event. Subsequent events were attended by about 79% of the season ticket holders. Would the attendance data impact revenue recognition? O Yes O No
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