Bramell Park is an amusement park with an entrance fee that allows unlimited rides. Last year, the company sold 99,000 one-day admission tickets with an average price of $136 and 35,500 three-day admission tickets with an average price of $302. The park management expects one-day admission ticket volume to decrease by 12 percent and three-day admission ticket volume to increase by 4 percent. At the same time, increased competition is expected to result in one-day ticket prices that are 15 percent lower than the current level and three-day ticket prices that are 10 percent lower than the current price. Required: Estimate admission revenues for Bramell Park for the coming year. Note: Do not round your intermediate calculations. Products One-day tickets Three-day tickets Revenues
Bramell Park is an amusement park with an entrance fee that allows unlimited rides. Last year, the company sold 99,000 one-day admission tickets with an average price of $136 and 35,500 three-day admission tickets with an average price of $302. The park management expects one-day admission ticket volume to decrease by 12 percent and three-day admission ticket volume to increase by 4 percent. At the same time, increased competition is expected to result in one-day ticket prices that are 15 percent lower than the current level and three-day ticket prices that are 10 percent lower than the current price. Required: Estimate admission revenues for Bramell Park for the coming year. Note: Do not round your intermediate calculations. Products One-day tickets Three-day tickets Revenues
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
![Bramell Park is an amusement park with an entrance fee that allows unlimited rides. Last year, the company sold 99,000 one-day
admission tickets with an average price of $136 and 35,500 three-day admission tickets with an average price of $302. The park
management expects one-day admission ticket volume to decrease by 12 percent and three-day admission ticket volume to increase
by 4 percent.
At the same time, increased competition is expected to result in one-day ticket prices that are 15 percent lower than the current level
and three-day ticket prices that are 10 percent lower than the current price.
Required:
Estimate admission revenues for Bramell Park for the coming year.
Note: Do not round your intermediate calculations.
Products
One-day tickets
Three-day tickets
Revenues](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F52b3aa28-a5ac-4b4d-aa34-a9cf043ed9dd%2Fe0b55818-64f2-415d-a6bd-f48991a77446%2Fu229e8_processed.png&w=3840&q=75)
Transcribed Image Text:Bramell Park is an amusement park with an entrance fee that allows unlimited rides. Last year, the company sold 99,000 one-day
admission tickets with an average price of $136 and 35,500 three-day admission tickets with an average price of $302. The park
management expects one-day admission ticket volume to decrease by 12 percent and three-day admission ticket volume to increase
by 4 percent.
At the same time, increased competition is expected to result in one-day ticket prices that are 15 percent lower than the current level
and three-day ticket prices that are 10 percent lower than the current price.
Required:
Estimate admission revenues for Bramell Park for the coming year.
Note: Do not round your intermediate calculations.
Products
One-day tickets
Three-day tickets
Revenues
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
Step 1
Estimated revenue is the revenue that an entity expects to earn at a future date. It is estimated in accordance with the previous years' revenues of the entity.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education