You are the bookkeeper of a hotel. It is a beautiful morning on July 29th. A...

   

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You are the bookkeeper of a hotel. It is a beautiful morning on July 29th. A wedding planning company has booked 48 rooms at (@) $200 in the hotel for one night with the maximum guest occupancy per room as one. The company has also booked a banquet space for $7,000 for a three-hour retreat, which includes a three-course meal for all 48 attendees. List the impact of the following transactions in the respective accounts along with the effects on the classifications. Use the table below to answer the questions. Account Classification Effect 1. The hotel ordered $638 worth of food inventory on July 26th for this function. The hotel knows that, by the time the invoice comes, it will be the month of August. (5 pts) 2. On June 14th, the hotel hired a decoration company for the event. The hotel paid the company in advance on June 20th to confirm the booking. What would have been the impact on the accounts in June? (5 pts) 3. On July 27th, the hotel decided to add a small complimentary souvenir in all 48 rooms. For this particular souvenir, Executive Chef ordered a special honey from a local farmer and paid her right away. (10 pts) You are the bookkeeper of a hotel. It is a beautiful morning on July 29th. A wedding planning company has booked 48 rooms at (@) $200 in the hotel for one night with the maximum guest occupancy per room as one. The company has also booked a banquet space for $7,000 for a three-hour retreat, which includes a three-course meal for all 48 attendees. List the impact of the following transactions in the respective accounts along with the effects on the classifications. Use the table below to answer the questions. Account Classification Effect 1. The hotel ordered $638 worth of food inventory on July 26th for this function. The hotel knows that, by the time the invoice comes, it will be the month of August. (5 pts) 2. On June 14th, the hotel hired a decoration company for the event. The hotel paid the company in advance on June 20th to confirm the booking. What would have been the impact on the accounts in June? (5 pts) 3. On July 27th, the hotel decided to add a small complimentary souvenir in all 48 rooms. For this particular souvenir, Executive Chef ordered a special honey from a local farmer and paid her right away. (10 pts)

Answer rating: 100% (QA)

Heres a breakdown of the impact of the transactions on the respective accounts along with their ... View the full answer