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5-28 (LO9) The auditors for City Football Club are conducting their audit for the fiscal year ended 31 December 2013. Specifically, the audit firm is

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5-28 (LO9) The auditors for City Football Club are conducting their audit for the fiscal year ended 31 December 2013. Specifically, the audit firm is now focusing on the audit of revenue from home football games in the national league from October to December 2013. While planning the audit of sales of football tickets, one of their newer members of staff observed that, in prior years many hours were spent auditing revenue. This staff member pointed out that perhaps the firm could apply analytical procedures to evaluate whether it appears that the revenue account is properly stated. The staff associate noted that information for a typical home game could be used to estimate revenues for the relevant period. October to December consisted of seven home games -one against the league's most merited team, Athletic, and six games against other opponents. One of these games was against United, the in-city arch-rival. All of these games were played during the day, except for the late evening game against Palace. The auditors will base their estimate on the game played against Rovers. This game is considered to be an average home game for City. The following information concerning that game is available: Total attendance 24,000 (stadium capacity is 40,000) This attendance figure includes the 500 free seats described below, and the 24,000 figure should be used as a basis for all further calculations. Ticket prices Box seats E 12 per ticket End-zone seats E 8 per ticket Upper-deck seats E 5 per ticket At the game against Rover, total attendance was allocated among the different seats as follows: Box seats 70% End-zone seats 20% Upper-deck seats 10% Based on information obtained in prior-year audits, the following assumptions are made to assist in estimating revenue for the other games

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