6. Guest Accounting

6. Guest Accounting 1. 2. 3. 4. 5. 6. 7. 8. 9. Complete the following: The accounting equation of XYZ Hotel shows $250,000 in owner' s equity and $675,000 in assets. What are the liabilitiesoe If ABC Hotel has assets $2,750,000 and Liabilities of $1, 540,000, what is owners' equity? What is the purpose of the Balance Sheet and what is included in a Balance Sheet?+J Define and explain the following a) b) c) d) e) Guest Accounting Guest Ledgere City Ledgerb Receivablese An aging statemente Why is guest accounting important to a hotels' operations?e What do you think are the major contributors for high employee turnover in the hospitality industry? How do you calculate employee turnover?e Do you think if the hospitality industry paid higher wages, employee turnover would fall? Why or why not?e What would you recommend to an individual hotel manager and his/her executive team should do to reduce employee turnover in their hotePfJ 10. What in your view are the major stressors for hotel staff and what do you think management can do about this?e 11. What is the role of hotel supervisors and managers in retaining their staff?