Need help with journal entries, income statement and balance sheet.

Please help with these questions. Please see attached document.

Please provide Journal Entries, Income Statement, balance sheet and statement of cash flows for Manchester United (ManU) for 2013. Below are the details: When forecasting the balance sheet, assume that other non-current assets, other current liabilities and non-current liabilities will remain unchanged from 2012 to 2013. 1. Matchday Revenue (Ticket Sales): You forecast that ManU will earn 96,321 from tickets to games that are played during the 2013 season. Assume that ManU will sell some of the 2013 seats through game-day sales (30,844) and that the remainder (65,477) will be for season tickets sold in 2012 covering the 2013 season (\"deferred revenue\" on the balance sheet). Assume further that ManU will sell (for cash) 48,976 of tickets during 2013 for the 2014 season. 2. Broadcasting Revenue: Assume that contracts for media coverage are signed prior to the start of the season (e.g., contracts covering the 2013 season were signed in 2012), but the cash is received both during and after the end of the season (e.g., cash for the 2013 season media rights is received in 2013 and 2014). You forecast that ManU will earn 100,544 from broadcasting games during the 2013 season, of which 59,863 will be paid in cash during 2013 and 40,681 will remain uncollected (\"trade receivables\" in the current assets section on the balance sheet) at year end 2013. In addition, ManU will collect any amounts due it as of the beginning of 2013 during 2013. Finally, during 2013, ManU will sign a contract for 102,332 for rights to the 2014 season, payment to be received in 2014 and 2015. 3. Commercial Revenue (Merchandise): Assume that Manu charges royalties on merchandise sold rather than owning the inventory themselves. Assume that ManU will receive 131,136 in cash during 2013 for merchandise sold in 2013. 4. An unusual aspect of ManU's business is that they buy and sell player registrations (contracts) for cash. Basically, the idea is analogous to property, plant and equipment when they buy a player registration, they depreciate it straight line over its life and record a sale if the player's contract is ultimately sold. Assume that in 2013 they buy additional player registrations of 40,150 and record amortization totaling 37,700 on all player registrations. Assume further, that player registrations have a life of 5 years and that during 2013 they sell player registrations with a historical cost of 20,500 which are three years through their life at the time of sale and receive 10,800 of cash on the sale. 5. During 2013, ManU will buy property, plant and equipment (PP&E) for cash of 18,023 and record depreciation of 8,234. No PP&E will be sold during 2013. 6. Employees (including players) will earn 168,442 for services rendered in 2013. The ending balance in the compensation payable account will be 124,207. (You need to infer the amount paid to players to end up a balance of 124,207 in compensation payable.) 7. Other operating expenses for 2013 will be 41,287, all paid in cash during 2013. 8. Interest expense for 2013 will be 41,678, all paid in cash during 2013. 9. Taxes are paid in the first quarter of each year on the previous year's profits. New taxes payable are recorded at year-end at 25% of pre-tax income. 10. The ending cash balance will be 114,066. Any excess cash is paid out as a dividend and any shortfall is made up by issuing stock. 1. In June 2003, ManU sold Beckham's registration to Real Madrid. The selling price of 27.5 million Euro had two main components (based on the ManU's Press Release). ManU had the choice between an unconditional 17.5 million Euro divided equally over the next four years or 16.3 million Euro in September 2003, the difference reflecting the time value of money. In addition, ManU is to receive 10 million Euro conditional on Real Madrid's performances in the UEFA Champions League, 1.25 million Euro of it payable in each of the next four seasons if Real Madrid qualifies for the Champions League, and a further 1.25 million Euro each season if Real Madrid reaches the quarter-finals. a Should Real Madrid record any liability to ManU in June 2003 related to the purchase of Beckham? Explain (briefly) your reasoning. b Assuming a liability is recorded for some portion of the 27.5 million Euro total potential payment, what amount (if any) should Real Madrid record for the unconditional portion of the payment? Explain your reasoning. c Assuming a liability is recorded for some portion of the 27.5 million Euro total potential payment, what amount (if any) do you think Real Madrid should record for the conditional portion? Why? (I'm not sure there is a clear right answer here, but I am looking for your reasoning. 2. One of the areas for which ManU is best known is developing young talent and selling the player registrations. Beckham, for example, signed up with a ManU club team as a teenager and was developed internally. In exchange for training, a player like Beckham commits to a long term contract with no upfront payment. Suppose that ManU spent 500 developing Beckham to the point where he was ready to play for a professional club. Would they recognize an asset for the 500? Explain briefly