What are you doing in the Summer of 2014?

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Country singer Dolly Parton is set to expand her entertainment empire and open a water-snow theme park in Nashville, Tennessee. The 66-year-old launched Dollywood in the Pigeon Forge area of Tennessee in 1986 and added a water park next door in 2001. Now Parton is working on a new addition to her popular attractions and she announced plans for the new $50 million venture on E! online.The new, as of yet unnamed park, will be opened in the Spring or Summer of 2014.

 

Questions:

  1.  In general, how would you book the $50 million dollar costs?
  2. How should these costs be classified on the financial statements?
  3. What is Dolly’s Secret regarding Dollywood?

Sources:

Cnn Video. (2012). Dolly’s New Adventure, Jan. 19 (Retrievable online at http://www.cnn.com/video/#/video/bestoftv/2012/01/19/exp-dollys-new-adventure.cnn)

King, Dennis. (2012) Dolly Parton’s Dollywood Secret. News OK, Jan. 24 (Retrievable online at http://newsok.com/dolly-partons-dollywood-secret/article/3642804)