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The adjusting entry described is incorrect. Since the company has earned $2,500 by December 31, the correct entry should involve debiting Ticket Revenue for $2,500 and crediting Unearned Revenue (or Deferred Revenue) for the same amount to reflect the recognition of revenue earned from the season tickets. This adjustment ensures that the revenue is accurately recorded in the period it was earned, aligning with the revenue recognition principle.
What else can I help you with?
What is Customer net revenue?
Net revenue means the profit for a company. This is the profit that is left over and what the company has earned.
What are the appropriate names for the revenue account for a businesses such as doctor hairdresser photographer loan company real estate company and dry cleaning company?
the doctor, hairdresser and photographer's revenue account name is fees revenue real estate's revenue account name is commission earned
What is cost of revenue?
Cost of revenue is the amount spent to sell a company's products.
Is revenue the gross increase in equity from a company's earning activities?
Yes, revenue is the gross increase in equity from a company's earning activities.
Is a company earnings are the same as its revenue?
A company's earnings are equal to revenue less costs of production over a given period of time.
What is profit in a company?
profit in a company this is increase in revenue received by the company. profit in a company this is increase in revenue received by the company.
What is Customer net revenue?
Net revenue means the profit for a company. This is the profit that is left over and what the company has earned.
A company is maximizing profit when marginal revenue?
A company maximizes profits when marginal revenue equals marginal costs.
Is the primary source of revenue for a merchandising company is sales revenue?
YES
What is a company's revenue?
Total Revenue - This is what it says in my economics book; A company's total revenue is defined as "the amount of money the company receives by selling its goods."Revenue in General - With that being said, it sounds like revenue is just the amount profit a company makes by selling it's good or sevices.Hope this helped, if not, look it up on Dictionary.com ! :) That is always what I do, and it has never let me down.
What are the appropriate names for the revenue account for a businesses such as doctor hairdresser photographer loan company real estate company and dry cleaning company?
the doctor, hairdresser and photographer's revenue account name is fees revenue real estate's revenue account name is commission earned
What is cost of revenue?
Cost of revenue is the amount spent to sell a company's products.
What is company totals revenue?
This is what it says in my economics book; "A company's maximum revenue is defined as the amount of money the company receives by selling its goods." Revenue is any type of income that is coming into the company for example Investment income That's the best answer i could find ^_^
Which company has the highest revenue?
Microsoft
Is revenue the gross increase in equity from a company's earning activities?
Yes, revenue is the gross increase in equity from a company's earning activities.
Is a company earnings are the same as its revenue?
A company's earnings are equal to revenue less costs of production over a given period of time.
What is the annual revenue of the Unwired telecom company?
Unwired has an annual revenue of approximately $20,000,000. The company is an Australian company that mainly supplies broadband services and has headquarters in Sydney.
