- A hotel with 170 roor 40 rooms on a Sunday
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- At 31 March 20X2 a company had oil in hand to be used for heating costing $8,200 and an unpaid heating oil bill for $3,600. At 31 March 20X3 the heating oil in hand was $9,300 and there was an outstanding heating oil bill of $3,200. Payments made for heating oil during the year ended 31 March 20X3 totalled $34,600. Based on these figures, what amount should appear in the company's statement of profit or loss and other comprehensive income for heating oil for the year? A $23,900 B $36,100 C $45,300 D $33,100At 31 March 20X2 a company had oil in hand to be used for heating costing $8,200 and an unpaid heating oil bill for $3,600. At 31 March 20X3 the heating oil in hand was $9,300 and there was an outstanding heating oil bill of $3,200. Payments made for heating oil during the year ended 31 March 20X3 totalled $34,600. Based on these figures, what expense should appear in the company's statement of profit or loss and other comprehensive income for heating oil for the year? $_______. Please provide detailed explained solutionBad Burgers recorded food and drink sales of $350,000 for the financial year.The expenses amounted to $150,000,the owner's withdrew $50,000 for personal use and business purchase supplies for $17,500(recorded as an asset initially).What was the restaurant's profit for the year?
- During August, 2020, Sheffield’s Supply Store generated net sales of $60100. The company’s expenses were as follows: cost of goods sold of $35000 and operating expenses of $4500. The company also had rent revenue of $1000 and a loss on the sale of a delivery truck of $1700. Sheffield’s operating income for the month of August 2020 is $20600.$21600.$19900.$25100.At 31 March 20X7, accrued rent payable was £300. During the year to 31 March 20X8, £4,000 cash was paid. This included an invoice for rent for £1,200 which covered the quarter ending 30 April 20X8. What was the charge for rent in the statement of profit or loss for the year ending 31 March 20x8?Taste Thai Restaurant recorded food and drink sales of $700. 000 for the financial year. The expenses amounted to $300.000, the owner’s withdrew $100.000 for personal use and the business purchased supplies for $35,000(recorded as an asset initially. What was the restaurant’s profit for the year?
- Sales at Joslin's Shoe Mart totaled $2,505 in August. The shoes cost $1,030. During the month, the owner paid $871 in rent, supplies, insurance, and utilities. The $614 left over is the owner's...........The business is a trading business. For the period, it purchased goods for sale valued at ₱100,000. The goods were all sold for a total price of ₱120,000. For the sale only 10% was received as down payment, 60% were later collected, and at the end of the year 30% are still for collection. How much is the business incomeMama's Pizza Shoppe maintains its records on the cash basis. During 20x2, Mama's collected $73,900 from customers and paid $20,000 in expenses. Depreciation expense of $4,200 would have been recorded on the accrual basis. Over the course of the year, accounts receivable increased $5,200, prepaid expenses decreased $1,200, and accrued liabilities decreased $2,600. Mama's accrual-basis net income was: $56,300. $43,100. $98,100. $51,100.
- Determine the Income and Expenses of this situation: The business is a trading business. For the period, it purchased goods for sale valued at ₱100,000.The goods were all sold for a total price of ₱120,000. For the sale only 10% was received as downpayment, 60% were later collected, and at the end of the year 30% are still for collection. How much isthe business income?A hotel has experienced the following financial results: Income before non-operating income and expenses: $400,000 Administrative and General: $164,000 Sales and Marketing: $67,000 Property Operation and Maintenance: $61,000 Utilities: $47,000 Rent: $28,000 Property and Other Texas: $45,000 Insurance: $7,000 Interest: $192,000 Depreciation: $146,000 a.) How much is the non-operating expense? b.) How…Thistle Do Nicely had $100 of supplies on May 1. During May, it purchased $500 of supplies on account. It paid $150 of the $500 it owed for its supplies. At May 31, Thistle Do Nicely only had $55 of supplies left. Supplies Expense on the income statement equals?