Question
Using the information below, please prepare the 2021/2022 fiscal year Balance Sheet (5 blocks) and Profit & Loss Statement for the Chelsea Football Club. Please
Using the information below, please prepare the 2021/2022 fiscal year Balance Sheet (5 blocks) and Profit & Loss Statement for the Chelsea Football Club. Please include the EBITDA in your Profit & Loss Statement. All amounts in Euros, except the number of tickets
a) Interest expense on long-term loans amounted to 8,000
b) Bank account balance: 780,000
c) 3-month financial debt: 180,000
d) Cash: 20,000
e) Cost of Sales were 700,000
f) P&L: ?
g) Broadcasting revenues for the year totalized 1,500,000
h) Stadium: 750,000
i) Interest earned on the clubs bank accounts added up to 1,500
j) Furniture: 40,000
k) Licensed merchandise for sale at clubs store: 275,000
l) 10-year bank loan: 1,000,000
m) Reserves: 50,000
n) Computers: 100,000
o) Sport personnel salaries were 2,500,000
p) Annual amortizations for Stadium and other assets were 150,000
q) Non-sport personnel salaries were 120,000
r) The club spent 5,000 in miscellaneous supplies
s) Accounts Receivable: 263,500
t) Share Capital: 500,000
u) Trademarks: 250,000
v) Land: 300,000
w) 30-year mortgage: 1,500,000
x) Office building: 500,000
y) Licensed merchandise sales summed 450,000
z) During the year, a total of 5,000 VIP game day tickets were sold at a price of 150 euros each and 15,000 standard tickets at a price of 25 euros each
aa) Contributions to Social Security 175,000
bb) The club received 500,000 for playing two friendly games abroad
cc) Accounts Payable: 150,000
dd) Water and electricity for the Stadium and club offices totalled 20,000
ee) Corporate Income Tax in UK is 30%
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