Question
Using the information below, please prepare the 2021/2022 fiscal year Balance Sheet (5 blocks) and Profit & Loss Statement for the French Football team, PSG.
Using the information below, please prepare the 2021/2022 fiscal year Balance Sheet (5 blocks) and Profit & Loss Statement for the French Football team, PSG. All amounts are in Euros, except the number of tickets
1) 30-year mortgage: 1,500,000
2) Non-sport personnel salaries were 150,000
3) Licensed merchandise for sale at clubs store: 275,000
4) Share Capital: 500,000
5) Accounts Receivable: 350,000
6) Accounts Payable: 171,375
7) Licensed merchandise sales summed 450,000
8) Corporate Income Tax in Spain is 25%
9) Contributions to Social Security 275,000
10) Sport personnel salaries were 3,500,000
11) P&L: ?
12) Broadcasting revenues for the year totalized 1,500,000
13) The club spent 10,000 in miscellaneous supplies
14) Annual amortizations for Stadium and other assets were 250,000
15) Stadium: 1,000,000
16) Interest earned on the clubs bank accounts added up to 8,500
17) Furniture: 40,000
18) Interest expense on long-term loans amounted to 12,000
19) Land: 500,000
20) Cash: 20,000
21) 3-month financial debt: 180,000
22) Office building: 800,000
23) Purchases of goods were 1,750,000
24) During the year, a total of 100,000 game day tickets were sold at a price of 50 euros each
25) 10-year bank loan: 1,000,000
26) Computers: 100,000
27) Water and electricity for the Stadium and club offices totaled 60,000
28) Trademarks: 250,000
29) Reserves: 50,000
30) Bank account balance: 780,000
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