Operated Departments Rooms Food Telecommunications Rentals Other Income Total Operated departments Undistributed Operating Expenses 1 Administrative...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Operated Departments Rooms Food Telecommunications Rentals Other Income Total Operated departments Undistributed Operating Expenses 1 Administrative and General 2 Marketing 3 Transportation 4 Property operation & maintenance 5 Utility Costs 16 Total Undistributed operating expenses 17 B Income after undistributed operating expenses no Net Revenue Cost of Sales Payroll & Related Expenses Other Expenses Income (Loss) For the income statement, complete the following in the spreadsheet above: (a) Rooms department income (loss)-year 2010 (b) Food department income (loss) - year 2010 (c) Telecommunications department income (loss) - year 2010 (d) Rentals and other income-year 2010 (e) Total operated departments income (loss)-year 2010 (f) Total undistributed operating expenses...--year 2010 (g) Income after Undistributed Operating Expenses-year 2010 Accounts receivable-net of allowance for doubtful accounts of $3,000 Accounts payable General and Adm.-payroll and related expenses General other expenses Telecommunications-cost of sales Room sales Food sales Telecommunications sales Marketing-other expenses Property operations and maintenance-payroll Property operations and maintenance- other expertses Utility costs Accumulated depreciation Investments Store rontals Interest expense Other income Booms-naych Depreciation Prepaid insurance Land $ 120,000 155,000 Building 50,000 Furniture and equipment 97,000 Cash Loss on sale of land 20,500 780,000 Income tax expense 550,000 Insurance 43,000 Real estate taxes 50,000 40.000 Income taxes payable Bonds payable Bad debt expense Accrued expenses 20,000 40,000 Inventories 350.000 Common stock-400,000 shares 30.000 outstanding $1 par value Dividends payable (representing 20,000 110,000 the only dividerias declamat 40,000 ended 150.000 during the s Dec. 31.2010 $ 80,000 6,000 300,000 1,500,000 100,000 65,000 30,000 70,000 10,000 45,000 14.000 1,000,000 3,000 55.000 105.000 400,000 50.000 Accounts receivable-net of allowance for doubtful accounts of $3,000 Accounts payable General and Adm.-payroll and related expenses General other expenses Telecommunications-cost of sales Room sales Food sales Telecommunications sales Marketing other expenses Property operations and maintenance-payroll Property operations and maintenance- other expenses Utility costs Accumulated depreciation Investments Store rentals Interest expense Other income Rooms-payroll Rooms-guest supplies Rooms-linen and laundry Telecommunications-payroll Telecommunications other expenses Transportation-other Depreciation Prepaid insurance Land 155,000 Building 50,000 97,000 Cash 20,500 Loss on sale of land 780,000 Income tax expense 550,000 Insurance 43,000 Real estate taxes $ 120,000 50,000 40,000 Furniture and equipment Income taxes payable Bonds payable Bad debt expense Accrued expenses 20,000 40,000 Inventories 30,000 20,000 110,000 40,000 150,000 15,000 50,000 350,000 Common stock-400,000 shares outstanding $1 par value Dividends payable (representing the only dividends declared during the year ended Dec. 31, 2010) Retained earnings-balance Jan 1, 2010 Food-cost of sales 28,000 2,500 Food payroll 2,000 Food-other expenses $ 80,000 6,000 300,000 1,500,000 100,000 65,000 30,000 70,000 10,000 45,000 14,000 1,000,000 3,000 55,000 105,000 400,000 50,000 202,000 200,000 180,000 70,000 Operated Departments Rooms Food Telecommunications Rentals Other Income Total Operated departments Undistributed Operating Expenses 1 Administrative and General 2 Marketing 3 Transportation 4 Property operation & maintenance 5 Utility Costs 16 Total Undistributed operating expenses 17 B Income after undistributed operating expenses no Net Revenue Cost of Sales Payroll & Related Expenses Other Expenses Income (Loss) For the income statement, complete the following in the spreadsheet above: (a) Rooms department income (loss)-year 2010 (b) Food department income (loss) - year 2010 (c) Telecommunications department income (loss) - year 2010 (d) Rentals and other income-year 2010 (e) Total operated departments income (loss)-year 2010 (f) Total undistributed operating expenses...--year 2010 (g) Income after Undistributed Operating Expenses-year 2010 Accounts receivable-net of allowance for doubtful accounts of $3,000 Accounts payable General and Adm.-payroll and related expenses General other expenses Telecommunications-cost of sales Room sales Food sales Telecommunications sales Marketing-other expenses Property operations and maintenance-payroll Property operations and maintenance- other expertses Utility costs Accumulated depreciation Investments Store rontals Interest expense Other income Booms-naych Depreciation Prepaid insurance Land $ 120,000 155,000 Building 50,000 Furniture and equipment 97,000 Cash Loss on sale of land 20,500 780,000 Income tax expense 550,000 Insurance 43,000 Real estate taxes 50,000 40.000 Income taxes payable Bonds payable Bad debt expense Accrued expenses 20,000 40,000 Inventories 350.000 Common stock-400,000 shares 30.000 outstanding $1 par value Dividends payable (representing 20,000 110,000 the only dividerias declamat 40,000 ended 150.000 during the s Dec. 31.2010 $ 80,000 6,000 300,000 1,500,000 100,000 65,000 30,000 70,000 10,000 45,000 14.000 1,000,000 3,000 55.000 105.000 400,000 50.000 Accounts receivable-net of allowance for doubtful accounts of $3,000 Accounts payable General and Adm.-payroll and related expenses General other expenses Telecommunications-cost of sales Room sales Food sales Telecommunications sales Marketing other expenses Property operations and maintenance-payroll Property operations and maintenance- other expenses Utility costs Accumulated depreciation Investments Store rentals Interest expense Other income Rooms-payroll Rooms-guest supplies Rooms-linen and laundry Telecommunications-payroll Telecommunications other expenses Transportation-other Depreciation Prepaid insurance Land 155,000 Building 50,000 97,000 Cash 20,500 Loss on sale of land 780,000 Income tax expense 550,000 Insurance 43,000 Real estate taxes $ 120,000 50,000 40,000 Furniture and equipment Income taxes payable Bonds payable Bad debt expense Accrued expenses 20,000 40,000 Inventories 30,000 20,000 110,000 40,000 150,000 15,000 50,000 350,000 Common stock-400,000 shares outstanding $1 par value Dividends payable (representing the only dividends declared during the year ended Dec. 31, 2010) Retained earnings-balance Jan 1, 2010 Food-cost of sales 28,000 2,500 Food payroll 2,000 Food-other expenses $ 80,000 6,000 300,000 1,500,000 100,000 65,000 30,000 70,000 10,000 45,000 14,000 1,000,000 3,000 55,000 105,000 400,000 50,000 202,000 200,000 180,000 70,000
Expert Answer:
Answer rating: 100% (QA)
Spread sheet 4 5 Operated departments 6 Rooms B 7 Food 8 Telecom 9 Rentals 10 Other Income 11 12 13 ... View the full answer
Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
Posted Date:
Students also viewed these accounting questions
-
Misstatement of financial statements threatens the foundation of financial reporting process and jeopardizes the integrity of the auditing function. These misstatements can result from errors or...
-
Here are simplified financial statements for Phone Corporation in a recent year: INCOME STATEMENT (Figures in 5 millions) Net sales Cost of goods sold Other expenses Depreciation Earnings before...
-
The class excel model includes cost of goods sold but not sold, general, and administrative (SG&A) expenses. Suppose that the firm has $200 of these expenses each year, irrespective of level of...
-
a) Assuming that your capital is constrained, what is the fifth project that you should invest in? Please show work. b) Assuming that your capital is constrained so that you only have $600,000...
-
How does a frame differ from a target population?
-
The following accounts appeared in recent financial statements of Continental Airlines: Accounts Payable Flight Equipment Air Traffic Liability Landing Fees Aircraft Fuel Expense Passenger Revenue...
-
What do you know about the mathematical value of a project's internal rate of return under each of the following conditions? a. The present worth of the project is greater than 0 . b. The present...
-
Ohno Company specializes in manufacturing a unique model of bicycle helmet. The model is well accepted by consumers, and the company has enough orders to keep the factory production at 10,000 helmets...
-
A 15 kg box is given a shove to the right on a horizontal, rough surface. After the hand loses contact, the box's acceleration (using standard directions) is a = (-1.2 m/s, 0). (a) What are the...
-
Wildcat Sporting Goods (WSG) sells athletic shoes and trendy sports apparel to a variety of sporting goods stores in the Northeast and, in 2011, WSG also began direct Internet sales to consumers....
-
ABC Company is a maker of chairs for schools and universities They have provided you with the following financial information. You are required to prepare a contribution margin income statement...
-
Which methods are most used in practice?
-
When quantity supplied is greater than quantity demanded, ___________-. a) price will fall to its equilibrium level b) price will rise to its equilibrium level c) price may rise, fall, or stay the...
-
Provide a list of pros and cons of test marketing.
-
How might an automobile company use ethnography to improve their product?
-
Explain the two types of validity in experimentation. What types of experiments are best suited to address each?
-
Almost all metals are reducing agents but not as powerful as the alkali and alkaline earth metals. In most reduction reactions, metals donate electrons to the substrate directly. However, under...
-
When a company has a contract involving multiple performance obligations, how must the company recognize revenue?
-
You are the new bookkeeper for a small business. The bookkeeper whose job you are taking is training you on the businesss manual system. As he journalizes, he writes the account number in the Post....
-
Franklin Plumbing purchases land and building for a combined price of $ 525,000. The assessor valued this property for tax purposes at $ 410,000: $ 195,000 for the land and $ 215,000 for the...
-
Determine the gross pay for each employee listed below. a. Clay Jones is paid time- and- a- half for all hours over 40. He worked 45 hours during the week. His regular pay rate is $ 25 per hour. b....
-
On 30 June 2019 the following information appeared in the accounting records of Ndung and Mkoka. Balance of Accounts Receivable Control account, $3725 Total of schedule of accounts receivable,...
-
Bonnie and Clyde have a partnership to run their human resource management services firm. Account balances related to their equity for the year ended 30 June 2020 are as follows. Profit of $124 000...
-
Lewis Edwards decides to branch out on his own and set up his own private practice as an accountant. Events occurring in March 2019 are as follows. Ignore GST. Required (a) After analyzing the events...
Study smarter with the SolutionInn App