T. Boone Pickens football stadium at Oklahoma State University has a seating capacity of about 60,000. Assume the stadium sells out all six home games before the season begins and the athletic department collects $30.6 million in ticket sales.1. What was the average price per season ticket and average price per individual game ticket sold?2. Record the advance collection of $30.6 million in ticket sales.3. Record the revenue recognized after the first home game is completed.
What will be an ideal response?
1.
= $510 per season ticket
= $85 per individual game ticket
2.
| Cash | 30,600,000 | ? |
| Deferred Revenue | ? | 30,600,000 |
3.
| Deferred Revenue | 5,100,000 | ? |
| Sales Revenue ($30,600,000/6) | ? | 5,100,000 |
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