The Green Bay Packers football stadium has a seating capacity of 65,000, expandable to 80,000 with standing-room-only capacity. The Packers hold eight regular season games at home, an average ticket sells for $100 a game. Assume the Packers collect $40 million in season ticket sales prior to the beginning of the season. For eight home games, that's $5 million per game ($40 million /8 games). Required: 1. Record the sale of $40 million in season tickets prior to the beginning of the season. 2. Record the $5 million in revenue recognized after the first game. Account Dr. Cr. 1. Account Dr. Cr. 2. Calculation
The Green Bay Packers football stadium has a seating capacity of 65,000, expandable to 80,000 with standing-room-only capacity. The Packers hold eight regular season games at home, an average ticket sells for $100 a game. Assume the Packers collect $40 million in season ticket sales prior to the beginning of the season. For eight home games, that's $5 million per game ($40 million /8 games). Required: 1. Record the sale of $40 million in season tickets prior to the beginning of the season. 2. Record the $5 million in revenue recognized after the first game. Account Dr. Cr. 1. Account Dr. Cr. 2. Calculation
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Problem #2:
The Green Bay Packers football stadium has a seating capacity of 65,000, expandable to 80,000 with
standing-room-only capacity. The Packers hold eight regular season games at home, an average ticket
sells for $100 a game. Assume the Packers collect $40 million in season ticket sales prior to the beginning
of the season. For eight home games, that's $5 million per game ($40 million /8 games).
Required:
1. Record the sale of $40 million in season tickets prior to the beginning of the season.
2. Record the $5 million in revenue recognized after the first game.
Account
Dr.
Cr.
1.
Account
Dr.
Cr.
2.
Calculation
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