FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Tannin Bus Co. sold 8,000 tickets on 1/5/2020 at $20 each for four-month period from 1/5/2020 to 31/8/2020. Assuming that Tannin Co. prepares the financial

image text in transcribed
Tannin Bus Co. sold 8,000 tickets on 1/5/2020 at $20 each for four-month period from 1/5/2020 to 31/8/2020. Assuming that Tannin Co. prepares the financial statements on 31/7/2020, the unearned ticket revenue should be reported at: O a. $120,000 O b. $160,000 Oc. $40,000 O d. $80,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Cases An Interactive Learning Approach

Auditing Cases An Interactive Learning Approach

Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt

4th Edition

0132423502, 978-0132423502

More Books

Students also viewed these Accounting questions

Question

★★★★★
Why might a bond agreement limit the amount of assets that the firm can lease?

Answered: 1 week ago

Question

★★★★★
Reflect on a recent challenge you faced. This could be at work, in your studies or a relationship. Then think about the following: a. What were the obstacles and how did you overcome them? b. What...

Answered: 1 week ago

Question

★★★★★
=+21.20. 20.17 1 Show that the gamma density (20.47) has moment generating function (1 - s/a)=" for s

Answered: 1 week ago

Question

★★★★★
Acorn Nursery School Corporation provides baby-sitting and child-care programs. On January 31, 2011, it had the following trial balance: During the month of February, the company completed the...

Answered: 1 week ago

Question

★★★★★
4. A mortgage of $715000 is taken out on April 30, 2018 with the first payment due on May 30, 2018. The mortgage is to be amortized over 30 years with monthly payments at j2 = 4.29%. Payments are...

Answered: 1 week ago

Question

★★★★★
In the model, you used on the Excel page.In two different studies, you found two different values of correlation coefficients.In the first case, you found r = +0.89 and in the other case, you found r...

Answered: 1 week ago

Question

★★★★★
1. Imagine that you are the chief executive or equivalent in a company which has operations across the globe, and that you plan to introduce best practice supply chain management into the...

Answered: 1 week ago

Question

★★★★★
28. A Veteran is feeling ill on vacation and wants to be seen at the Orlando VA. The veteran currently receives care at the VA in Jackson, MD. When the Veteran arrives at the

Answered: 1 week ago

Question

★★★★★
Community Hospitals provide medical services for patients who require a short period of continuation of care, usually after their discharge from the acute hospitals. The types of care at the...

Answered: 1 week ago

Question

★★★★★
Stock price: $200 Exercise (Strike) price: $200 The stock price will either rise to $300 or fall to $125 at the end of one year. Risk free rate: 4% annual Option life: 6 months CALL OPTION=$44.24 1....

Answered: 1 week ago

Question

★★★★★
SR Company manufactures two types of Computers, CX1 and CX2. The labour rates per hour for design is $75 per hour while for that of testing and inspection is $40 per hour Other information on each...

Answered: 1 week ago

Question

★★★★★
Identify the kinds of local contextual factors that can challenge the logic and ease of transfer of corporate HRM practices within the multinational firm.

Answered: 1 week ago

Question

★★★★★
Compare and contrast exclusive talent management with inclusive people development. Can you think of any other organizations, apart from Grundfos, that execute one or the other? Or both? What may be...

Answered: 1 week ago

Question

★★★★★
According to the case and learnings from the previous Talent Engine, what are the factors that contribute to an effective people development strategy?

Answered: 1 week ago

Previous Question Next Question