Alpine, Inc

question 96

Multiple Choice

Alpine, Inc. sells baseball tickets for professional baseball games. Cash receipts for baseball tickets are credited to Unearned Ticket Revenue. During 2017, Alpine collected $30,000 for a September, 2017 baseball game and $42,000 for a March, 2018 baseball game. The September game was played as scheduled, although $2,000 of tickets was refunded to fans that canceled because they had been permanently kicked out of the stadium for disorderly conduct. How much should be reported as Unearned Ticket Revenue at December 31, 2017?

• A)$0
• B)$42,000
• C)$72,000
• D)$40,000

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Definitions:

Arnold Gesell

An American psychologist and pediatrician known for his work in child development and for establishing developmental milestones.

Jean Piaget

A Swiss psychologist known for his pioneering work in child development, especially his theory of cognitive development.

Built-In Reactions

Inherent responses present from birth that are physiologically based and do not need to be learned, such as reflexes or instinctive behaviors.

Reflexes

Automatic, involuntary responses or movements produced by the nervous system in reaction to external stimuli.