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Question 2 Today is March 19, 20x2. The partner calls you, CPA, into his office to discuss an engagement for a new client, the Thunder

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Question 2 Today is March 19, 20x2. The partner calls you, CPA, into his office to discuss an engagement for a new client, the Thunder Bay Lighting, a professional hockey team. The team has not been very successful for the past 40 years and have decided to bring a few old players out of retirement to attempt to bring the team some wins and hopefully get them into the playoffs. Eric, Marc, Jordan, and Jared have agreed to join the team on the condition that, in addition to their salary, they get compensated for the risk they will be taking, given their ages. The agreements are identical. Each player will receive a bonus calculated as follows: 0 10% of the ticket revenue for all home games . 25% of the concession sales during all home games The four players have asked the owners to retain a public accounting firm to give them some assurance that their compensation is correct. The partner has asked you to prepare a written report to the potential client outlining what options are available for this special engagement. In addition, the partner wants you to prepare a list of procedures that you would perform for each alternative

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