None Named in honor of the late Dr. F. C. "Phog" Allen, the Kansas Jayhawks' head coach for 39 years, Allen Fieldhouse is labeled by manyas one of the best places in America to watch a college basketball game. Allen Fieldhouse has a seating capacity of 15,900. Assumethe basketball arena sells out all 14 home games before the season begins, and the athletic department collects $15,582,000 in ticketsales.Required:1. What is the average price per season ticket and average price per individual game ticket sold?2. & 3. Record the advance collection of $15,582,000 in ticket sales and the revenue earned after the first home game is completed.Complete this question by entering your answers in the tabs below.Req 1Req 2 and 3What 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).)Per season ticketPer individual game ticket< Req 1Req 2 and 3>

Step 1:Answer 1.Computation of the average price per season ticket:Average price per season ticket =…

Answered: Named in honor of the late Dr. F. C.…

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter9: Deductions: Employee And Self-employed-related Expenses

Section: Chapter Questions

Problem 32P

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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.
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…
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.)
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