HTM102 quiz 1 rewrite questions for extra marks Winter 2024

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Seneca College *

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102

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Accounting

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Feb 20, 2024

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docx

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HTM102 Quiz#1 Rewrite Questions Name: Pradip Kumar Khatri 1. The Stafford Hotel is an 600 room property. It currently sells rooms for $150 per night, and has a nightly occupancy percentage (sold rooms per night) of 70%. The owners are considering reducing the price by 10%. They estimate that this reduction would lead to 20 more rooms sold each night. (a) How many rooms does the Stafford Hotel currently sell per night? Rooms sold = Rooms available * Occupancy percentage Rooms sold = 600 rooms * 70% = 420 rooms/night Therefore, the Stafford Hotel currently sells 420 rooms per night. (b) What would the new occupancy percentage be if the changes occur? New Occupancy= (440 rooms / 600 rooms) * 100% = 73.33% Therefore, the new occupancy rate is 73.33% 2. After a 15% discount, the new price of new restaurant equipment is $153,000. What was the original price of the equipment? The original price of the restaurant equipment was approximately $180,000. 3. A set of kitchen tools retails for $4,200 but is presently on sale for $3,276. Calculate the rate of discount . Discount rate= (4200-3276/4200) x 100= 0.22x100 Discount rate= 22% Therefore, the rate of discount on the kitchen tools is 22%. 4. A recipe that serves 24 people requires 5 cups of sugar; how many cups of sugar are required if we prepare the recipe for a group of 144 people? 5/24= x/144 720= 24x x = 720/24 = 30 cups 30 cups of sugar are required.
5. There are 140 customers sitting in a restaurant, and this number represents 80% of the total seats in the restaurant. How many total seats are there in the restaurant? = 140/0.80 =175 There are 175 total seats in the restaurant. 6. Jim and John decided to open a new restaurant. They invested $600,000 in total, and would split the profits based on the ratio of their respective investment. After the first year, the restaurant had a profit of $100,000. Jim’s share of the profit was $72,000. How much did each partner originally invest? Jim originally invested $432,000, and John originally invested $168,000. 7. The ABC Hotel has 600 rooms in total. Last Friday, they had 240 occupied rooms. (a) What was the occupancy rate on Friday? (b) On Saturday they sold 20% more rooms than Friday. What was the occupancy rate on Saturday? a. The occupancy rate on Friday was 40% b. The occupancy rate on Saturday was 48% 8. A 500 room hotel sold 7,500 rooms last month (30 days). What was the average daily occupancy rate? The average daily occupancy rate for the hotel last month was 50% . 9. The Seneca Café is a 280 seat restaurant. Last night the turnover rate was 340%. How many guests were served? Last night, the Seneca Café served 952 guests 10. A typical restaurant has two sources of revenue: Food Sales, and Beverage Sales. The restaurant had Food Sales of $261,000 last month. This figure represented 72.5% of the restaurant’s Total Sales. Calculate the restaurant’s Beverage Sales last month. The restaurant's Beverage Sales last month were approximately $99,000.
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