4 pages/≈1100 words
Accounting, Finance, SPSS
Financial Accounting (Essay Sample)
To let you know which book we are using , Hospitality Industry Financial Accounting Third Edition.. I ll attach you the problems , thanks source..
Problem 1 T-accounts Dunk-in Donuts-December 31, 2011 T-account Supplies Debit ( $) Credit ($)2,500 T-account Prepaid insurance Debit ( $) Credit ($)1,250 T-account Food and beverage inventory Debit ( $) Credit ($)2,000 T-account Equipment Debit ( $) Credit ($)10,000 T-account Accumulated depreciation, Equipment Debit ( $) Credit ($) 4,000 T-account Accumulated depreciation, building Debit ( $) Credit ($) 6,000 Adjusted Trial balance December 31, 2011 Debit($)Credit($) Food and beverage inventory$1,650 Insurance 500 Depreciation of equipment$1,500 Depreciation of the building$2,500Salaries $200Supplies $1,100Total 34504000 Problem 2 1. Income statement Income statement Milford’s Fish House December 31, 2010 Revenues Account receivable 17,000 Jerry Young, Capital 58,999 Food revenue 361,350 Cost of goods sold 126,473 Total revenues $563,822 Expenses Accrued wages 600 Note payable 15,000 Mortgage payable 79,000 Jerry Young, drawing 4,600 Wages 108,405 Advertising 14,454 Repair and maintenance 18, 068 Insurance 7, 227 Depreciation 15,000 Total expenses $248,854 Net income $314,968 Balance sheet Balance sheet Milford’s Fish House December 31, 2010 Assets ($)Liabilities ($)Cash 32,522Short term investment 12,000Accounts Receivable17,000Food and beverage inventory 9,200Equipment 35,000Accumulated...
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