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You are the vice president of rides and attractions at Cedar Point. Assume that Forbidden Frontier will cost $5 million to construct in late 2018
- You are the vice president of rides and attractions at Cedar Point. Assume that Forbidden Frontier will cost $5 million to construct in late 2018 and that the attraction will open in 2019. Will your 2018 division income contain an expense of $5 million for the construction of Forbidden Frontier? Explain.
- As part of management for Cedar Point, why is it important to understand expense recognition principles?
- What general ledger account will the initial cost of the Forbidden Frontier attraction be posted to?
- What financial statement does that general ledger account in #3 appear on?
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