The Symphony sells season tickets for six events at a price of $94. In pricing t

Question

The Symphony sells season tickets for six events at a price of $94. In pricing the tickets, the planners assigned the leadoff event a value of $27 because the program was an expensive symphony orchestra. The last five events were priced equally; 1,010 season tickets were sold for the 2013 season. Required: Calculate the theaters earned revenue after the first three events have been presented About 93% of the season ticket holders attended the first event. Subsequent events were attended by about 78% of the season ticket holders. To what extent, if any, should the attendance data impact revenue recognition? No Yes

Explanation / Answer

Answer 1 Ticket Price of Six events 94 Leadoff Event value 27 Ticket Price of Five events 67 Ticket price of one event 13.40 Revenue after 3 events will be (27+13.40+13.40) 53.80 Total Ticket Sold 1010 Total Revenue after 3 events will be 54338 Answer 2 No, Attendance data did not impact on Revenue recognition. Once ticket sold and event complete, recognise the revenue It is not matter how many attandence.

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