Ticketsales, Inc., receives $5,000,000 cash in advance ticket sales for a four-date tour of Bon Jovi. Record the advance ticket sales on October 31. Record the revenue earned for the first concert date of November 5, assuming it represents one-fourth of the advance ticket sales.

31-Oct

Dr Cash $5,000,000

Cr To Unearned Ticket revenue $5,000,000

05-Nov

Dr Unearned Ticket revenue $1,250,000

Cr To Ticket Revenue $1,250,000

Explanation:

Preparation of the Journal entry to record the advance ticket sales on October 31.

Since we were told that the company receives the amount of $5,000,000 cash in advance ticket sales this means that the transaction will be recorded as:

31-Oct

Dr Cash $5,000,000

Cr To Unearned Ticket revenue $5,000,000

Preparation of the Journal entry record the revenue earned for the first concert date of November 5

Since we were told that the company receives $5,000,000 cash in advance ticket sales for a four-date tour of Bon Jovi this means that the transaction will be recorded as:

05-Nov

Dr Unearned Ticket revenue $1,250,000 ($5,000,000*1/4)

Cr To Ticket Revenue $1,250,000

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

someone i feel is a leader in my life id have to say would be my mother because she has give me great advice in life and got me out of tough situations. some characteristics she has are creativity, honesty, commitment, respect for others, and communication. one example of a situation when she demonstrated leadership was when i was working late on homework and i started to get stressed and got upset, she asked me if i needed some , and she me with my work. she demonstrated communication and commitment.

i don't know if this is exactly what your looking for but i hope this !