Question
Kirkland Theater sells season tickets for six events at a price of $94. In pricing the tickets, the planners assigned the leadoff event a value
Kirkland Theater sells season tickets for six events at a price of $94. In pricing the tickets, the planners assigned the leadoff event a value of $21 because the program was an expensive symphony orchestra. The last five events were priced equally; 1,320 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.)
b. About 95% of the season ticket holders attended the first event. Subsequent events were attended by about 76% of the season ticket holders. Would the attendance data impact revenue recognition?
multiple choice
Yes
No
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a The computation of the theaters earned revenue is shown below Bal...Get Instant Access to Expert-Tailored Solutions
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