Chapter 7, Problem 6DQ

I need help with this general accounting question using the proper accounting approach.

During 2018, the band Maroon 5 is touring across the U.S. on its "Red Pill Blues Tour 2018." Two of those concerts, on October 14 and 15, will be held at Madison Square Garden in New York City. Madison Square Garden has a seating capacity for concerts of approximately 19,000. According to a Business Insider article in December 2016, Maroon 5 had an average concert ticket price of $165.Assume that these two Madison Square Garden concerts were sold out on the first day the tickets were available for sale to the public, November 4, 2017. Also assume, for the sake of simplicity, that all tickets are sold directly by Maroon 5.Question:How will Maroon 5's balance sheet and income statement be impacted by the sale of the Madison Square Garden tickets on November 4, 2017 and what specific accounts will be impacted and will it increase ir decrease.

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What are rangoons profit margin and debt ratio?

Question: When will Maroon 5 recognize revenue from its 2018 concerts at Madison Square Garden in New York City?During 2018, the band Maroon 5 is touring across the U.S. on its "Red Pill Blues Tour 2018." Two of those concerts, on October 14 and 15, will be held at Madison Square Garden in New York City. Madison Square Garden has a seating capacity for concerts of approximately 19,000. According to a Business Insider article in December 2016, Maroon 5 had an average concert ticket price of $165.Assume that these two Madison Square Garden concerts were sold out on the first day the tickets were available for sale to the public, November 4, 2017. Also assume, for the sake of simplicity, that all tickets are sold directly by Maroon 5.

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Greenfield Company has current liabilities of $60,000 and long-term liabilities of $90,000. It also has $80,000 in common stock and $40,000 in retained earnings. Calculate Greenfield's debt-to-equity ratio.

Can you explain the correct methodology to solve this general accounting problem?

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