A baseball stadium can hold a maximum of 55,000 spectators. Before the gates open, there are only 200 stadium personnel in the stadium. When the gates open, there are 500 times more spectators than media personnel that enter the stadium. There are 50 baseball players that enter the stadium. During the game, one‐fourth of the spectators leave. There are 30,000 spectators at the end of the game. No players, stadium personnel, or media personnel leave during the game. Using the accounting principle, calculate the total number of people in the stadium at the end of the game.

A baseball stadium can hold a maximum of 55,000 spectators. Before the gates open, there are only 200 stadium personnel in the stadium. When the gates open, there are 500 times more spectators than media personnel that enter the stadium. There are 50 baseball players that enter the stadium. During the game, one‐fourth of the spectators leave. There are 30,000 spectators at the end of the game. No players, stadium personnel, or media personnel leave during the game. Using the accounting principle, calculate the total number of people in the stadium at the end of the game.

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter3: Income Sources

Section: Chapter Questions

Problem 109EDC

See similar textbooks

Similar questions

The University of Michigan football stadium, built in 1927, is the largest college stadium in America, with a seating capacity of 114,000 fans. Assume the stadium sells out all six home games before the season begins, and the athletic department collects $102.6 million in ticket sales. Required: 1. What is the average price per season ticket and average price per individual game ticket sold? 2. Record the advance collection of $102.6 million in ticket sales. 3. Record the revenue recognized after the first home game is completed.
Named in honor of the late Dr. F. C. “Phog” Allen, the Kansas Jayhawks’ head coach for 39 years, Allen Fieldhouse is labeled by many as one of the best places in America to watch a college basketball game. Allen Fieldhouse has a seating capacity of 16,300. Assume the basketball arena sells out all 16 home games before the season begins, and the athletic department collects $9,128,000 in ticket sales. Required: 1. What is the average price per season ticket and average price per individual game ticket sold? 2. Record the advance collection of $9,128,000 in ticket sales. 3. Record the revenue recognized after the first home game is completed.
The members of the city cultural center have decided to put on a play once a night for a week. Their auditorium holds 600 people. By selling tickets, the members would like to raise $2,700 every night to cover all expenses. Let d represent the number of adult tickets sold at $6.50. Let s represent the number of student tickets sold at $3.50 each. If all 600 seats are filled for a performance, how many of each type of ticket must have been sold for the members to raise exactly $2,700? At one performance there were two times as many student tickets sold as adult tickets. If there were 360 tickets sold at that performance, how much below the goal of $2,700 did ticket sales fall?
T. Boone Pickens football stadium at Oklahoma State University has a seating capacity of about 40,000. Assume the stadium sells out all six home games before the season begins and the athletic department collects $31 million in ticket sales.1. What was the average price per season ticket and average price per individual game ticket sold? (Round your answers to the nearest dollar amount.)
The May clinic runs a small office in Columbia. May pays the building owner a rent of 12000 a month which includes all utilities. It all signed a three-year lease. May hires a general practice position at $300 an hour, a nurse at $90 an hour, and a secretary at $60 an hour. May assumes that each patient uses $60 in supplies. In September, the clinic was open for 400 hours, during which all Personnel were available at all times to stuff the clinic. During that time 6000 patients were seen what we're maze fixed, variable, and total cost for the month? Show your work
T. Boone Pickens football stadium at Oklahoma State University has a seating capacity of about 40,000. Assume the stadium sells out all four home games before the season begins and the athletic department collects $31 million in ticket sales.1. What was the average price per season ticket and average price per individual game ticket sold? (Round your answers to the nearest dollar amount.) Average price per season ticket Average price per individual game ticket 2. & 3. Record the following transactions for the ticket sales. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions. Round your answers to the nearest dollar amount.) Record the advance collection of $31 million in ticket sales. Transaction General Journal Debit Credit 1 Record the…
10,000 seat amphitheater has tickets for sale at $45 and $65. How many tickets should be sold at each price for a sellout performance to generate a total revenue of $560,000 ?
Stuart Studio, an art studio, prepared a new catalog for the National School of Heavy Equipment, a school run by Gilbert and Donald Shaw. When the artwork was virtually finished, Gilbert Shaw requested Stuart Studio to purchase and supervise the printing of twenty-five thousand catalogs. Shaw told the art studio that payment of the printing costs would be made within ten days after billing and that if the “National School would not pay the full total, he would stand good for the entire bill.” Shaw was chairman of the board of directors of the school, and he owned 100 percent of its voting stock and 49 percent of its nonvoting stock. The school became bankrupt, and Stuart Studio was unable to recover the sum from the school. Stuart Studio then brought an action against Shaw on the basis of his promise to pay the bill. a. What are the arguments that Shaw is not liable on his promise? b. WhataretheargumentsthatShawisliableonhispromise? c. Is Shaw obligated to pay the debt in question?…
Elliott, Inc., has four salaried clerks to process purchase orders. Each clerk is paid a salary of 25,750 and is capable of processing as many as 6,500 purchase orders per year. Each clerk uses a PC and laser printer in processing orders. Time available on each PC system is sufficient to process 6,500 orders per year. The cost of each PC system is 1,100 per year. In addition to the salaries, Elliott spends 27,560 for forms, postage, and other supplies (assuming 26,000 purchase orders are processed). During the year, 25,350 orders were processed. Required: 1. Classify the resources associated with purchasing as (1) flexible or (2) committed. 2. Compute the total activity availability, and break this into activity usage and unused activity. 3. Calculate the total cost of resources supplied (activity cost), and break this into the cost of activity used and the cost of unused activity. 4. (a) Suppose that a large special order will cause an additional 500 purchase orders. What purchasing costs are relevant? By how much will purchasing costs increase if the order is accepted? (b) Suppose that the special order causes 700 additional purchase orders. How will your answer to (a) change?
The Calling Company has three departments that occupy floor space in the 50,000 square feet building it rents for $500,000 annually. Department A occupies 25,000 sq ft; Department B occupies 10,000 sq ft; and Department C occupies 15,000 sq ft. How much annual rent expense should be allocated to Department B?
Tech has a student population of 30,000 and is located in a small college town in Virginia. DirectCast Cable TV has a small service staff or three installation trucks and technicians that is sufficient to handle service calls and installations for almost the entire year. However, for the month-long period right before and during the beginning of fall semester in August, when all the students return, the cable TV service is overwhelmed. During the normal year DirectCast averages about 15 service requests per day (Poisson distributed), and service calls average about 50 minutes (exponentially distributed) during their 8-hour workday. However, during the month before school starts, the demand for service calls triples, and almost all of these are requests for installations, so the average service time increases to 80 minutes. During normal demand periods, DirectCast guarantees service within a 24-hour period. as an alternative to borrowing trucks and crews from other offices (which can be…
Bramell Park is an amusement park with an entrance fee that allows unlimited rides. Last year, the company sold 105,000 one-day admission tickets with an average price of $142 and 38,500 three-day admission tickets with an average price of $314. 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. one day ticket: three day ticket: