The University of Michigan football stadium, built in 1927, is the largest college stadium in America, with a seating capacity of 108,000 fans. Assume the stadium sells out all five home games before the season begins, and the athletic department collects $56.70 million in ticket sales. Required: 1. What is the average price per season ticket and average price per individual game ticket sold? (Enter your answers in dollars, not in millions (i. e. $5.5 million should be entered as 5,500,000).) 2. & 3. Record the advance collection of $56.70 million in ticket sales and the revenue earned after the first home game is completed. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions (i. e. $5.5 million should be entered as 5,500,000).)
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The University of Michigan football stadium, built in 1927, is the largest college stadium in America, with a seating capacity of 108,000 ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Which characteristic of the production possibilities curve reflects the law of increasing opportunity costs: its shape or its length?
Answers (1)
Getty Company expects sales for the first three months of next year to be $200,000, $235,000, and $298,000, respectively. Getty expects 35 percent of its sales to be cash and the remainder to be credit sales.
Answers (1)
Which business partnership began by selling watches by mail? ben and jerry?
Answers (1)
Flying High Manufacturing produces frisbees using a three-step sequential process that includes molding, coloring and finishing.
Answers (1)
If the amount of loss in a manufacturing process is abnormal, it should be classified as a: Group of answer choices a. Period cost. b. Deferred charge. c. Joint cost. d. Product cost.
Answers (1)
New Questions in Business
Calculator Danielle is a partner in and sales manager for DG Partners, a domestic business that is not a specified service trade or business.
Answers (1)
If it takes 40 hours to complete the first unit and the company knows from experience that the learning rate should be 0.80, how fast can they be expected to finish all twelve units? 289 hours 18 hours 264 hours 316 hours
Answers (1)
In year 1, Kris purchased a new home for $200,000 by making a down payment of $150,000 and financing the remaining $50,000 with a loan, secured by the residence, at 6 percent. As of January 1, year 4, the outstanding balance on the loan was $40,000.
Answers (1)
Which financial statement is prepared first?
Answers (2)
Ace Inc. is evaluating two mutually exclusive projects-Project A and Project B. The initial investment for each project is $50,000.
Answers (1)