CPAnet Forum: cpa-00799 Advance sale, non-return tix

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Topic: cpa-00799 Advance sale, non-return tix (

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GVen
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Joined: 13 Apr 2011
Location: United States
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Posts: 71

Posted: 17 Apr 2011 at 17:17 \| IP Logged

Another stumper:

If a theater sells non-refundable tix for a performance at future date, does this mean they have to defer all revenue even though buyer cannot claim it back?

Does this have to do w/ only realizing when earned?

thanks!

yurtle8
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Joined: 16 Apr 2011
Location: United States
Online Status: Offline
Posts: 15

Posted: 17 Apr 2011 at 21:40 \| IP Logged

Yes, even though the ticket is non-refundable, it represents income for that future performance. The income is unearned & deferred and is recognized when earned (after that performance).

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