Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. tannin bus co. sold 8,000 tickets on 1/5/2020 at $

Tannin Bus Co. sold 8,000 tickets on 1/5/2020 at $20 each for four-month period from...

90.2K

Verified Solution

Question

Accounting

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: a. $160,000 b. $80,000 c. $120,000 d. $40,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

How might the information gained from this lab pertaining to mitosis and meiosis be useful to...

Biology
1.2K views

Which microbial reservoir has the largest anaerobe to aerobe ratio O Pancreatic O Oral O...

Physics
1.2K views

Which of the following statement is correct regarding the Coulomb's forc and Biot-Savart's force?(a) Electrostatic...

Basic Math
1.2K views

Owen's math teacher finds that there's roughly a linear relationship between theamount of time students...

Basic Math
1.2K views

A balloon, which always remains spherical, has a variable radius. If the radius is increasing...

Calculus
1.2K views

Jennifer borrowed 3200 from the bank in order to buy a new dune buggy She...

Accounting
1.2K views

Power Corporation owns 75 percent of Swift Company's stock. Swift provides...

Accounting
1.2K views

Information relating to Geller Inc. follows: (Click the icon to view the company's...

Accounting
1.2K views

Issuing Par Stock On January 29, Quality Marble Inc., a marble contractor, issued 75,000 shares...

Accounting
1.2K views

Carlton Company purchases $8,000 of inventory with shipping terms, FOB Portland. Carlton is based in...

Accounting
1.2K views

44. The allocation base that would be most likely to be the best for allocating...

Accounting
1.2K views

Presented below is the ending balances of accounts for the Kansas Instruments Corporation at December...