Solve the Problem. -A Basketball Fieldhouse Seats 15,000. Courtside Seats Cost $10, Endzone

question 61

Multiple Choice

Solve the problem.
-A basketball fieldhouse seats 15,000. Courtside seats cost $10, endzone seats cost $6, and balcony seats cost $4. The total revenue for a sellout is $82,000. If half the courtside seats, half the balcony Seats, and all the endzone seats are sold; then the total revenue is $47,000. How many of each type Of seat are there?

• A)4000 courtside, 3000 endzone, 8000 balcony
• B)3000 courtside, 4000 endzone, 8000 balcony
• C)3000 courtside, 2000 endzone, 10,000 balcony
• D)3200 courtside, 1800 endzone, 10,000 balcony

---

Definitions:

Accounts Receivable

Outstanding payments from customers to a firm for goods or services that have already been received or utilized but have not yet been settled.

Income Taxes Payable

A liability on a company's balance sheet representing the amount of taxes owed to governmental authorities that have not yet been paid.

Net Income

The total profit of a company after subtracting all expenses, including taxes, from its total revenues.

IFRS Categories

Classifications under the International Financial Reporting Standards that dictate the presentation and disclosure of financial information in the financial statements.