ACTG 2011 Lecture Notes - Lecture 4: Seating Capacity, Jerusalem In Christianity, Financial Statement
Document Summary
The florida otters (otters) is a professional hockey team that has been playing in the national hockey league (nhl) for the past 10 years. The team has had moderate success, recently on the ice, (though never making the play-offs) as a result of acquiring several top players in the past 3 years. However, financially, the team have been a disappointment, incurring significant operating losses in 8 out of its 10 year history. Florida, creating interest in ice hockey has proven to be very difficult. Ticket sales and tv revenues are the lowest in the league. On january 1, 2012, birch buds sports and entertainment ltd. (bbse), acquired the otters(cid:8217) franchise for million. The fair market value of the assets and liabilities are as follows: Note 1: the player contracts represent signing bonuses paid to 3 star players, which all have 5 years remaining on their contracts.
