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Hospitality Managerial Acct

by: Ms. Ambrose Hills

Hospitality Managerial Acct HB 302

Marketplace > Michigan State University > OTHER > HB 302 > Hospitality Managerial Acct
Ms. Ambrose Hills
GPA 3.99

M. Kim

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About this Document

M. Kim
Class Notes
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This 5 page Class Notes was uploaded by Ms. Ambrose Hills on Saturday September 19, 2015. The Class Notes belongs to HB 302 at Michigan State University taught by M. Kim in Fall. Since its upload, it has received 9 views. For similar materials see /class/207502/hb-302-michigan-state-university in OTHER at Michigan State University.


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Date Created: 09/19/15
32 1 S 1500 was received 2 Depriciation amount 3000030003218000 left book value is 12000 sold for15000 hence Gain on sales of property 3000 3 Depriciation Rate100326667 so the depreciate amount for 1 year 2000 book value after 1 year1000 sold for 500 Hence Loss on sales of property 500 35 1 Beg Inventory 12376 purchase 76840 Transfer from Bar 46 End Inventory 15845 Employee Meal GM 85 Food Department 648 Promotional Meal 256 COGS 72428 2 Expenses Department COGS Food Department Employee mealsGM Administration in General Department Employee mealsFood Dept Food Department Promotional Meals Marketing Department 1 2 1 2 12 Net Income before tax RevenueExpenses 270003000450 8100 8100 60001350 Net Income NI before Tax Tax Expense1350 405945 CashInCapitalRevenue CashOut Cash Expenditure CashIn 216005000071600 CashOut 9000600060008100600035100 716003510036500 Cashe ExpenditureEnding BalanceBeginning Balance Cash Sales 5350080001000051500 Income Statement Spartan Mobile Ice Cream For the Year ended December3lst 20X5 Revenue Sales Revenue 51500 Expense Depreciation Expense 7500 Cost Of Goods Sold 19500 Interest Expense 1500 Operation Expense 1900 Wage Expense 18000 Supplies Expense 400 Total Expense 48800 Net Income 2700 Revenue Expenses Other Expenses COFS 72428 1 Food 2 Administrative and General 3 Food 4 Sales and Marketing Outlet food revenue Service charges Meeting room rentals Allowances Net Revenue Salaries and wages Payroll taxes Cost of Food Sold COFS Employee Benefits Total Payroll and Related Expenses Utensils Uniforms Laundry Operating supplies Training Telecommunications Contract services China Glassware Licenses Linen Miscellaneous Total Other Expenses work 850000 45000 12000 2000 905000 270000 24000 286200 35000 615200 1200 5400 8000 20500 2000 3500 25000 6500 3600 1500 5400 3200 85800 Total Expenses 701000 Departmental Income S 204 000 insurance expense prepaid insurance 2 depreciation expense accumulated depreciation wages expense wages payable payroll tax expense payroll tax payable 4 bad debt expense AFDA AFDA Accounts Receivable AR 5 utilities expense utilites payable debit 12000 1600 800 6300 300 201


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