In the world of specialized industries, identify some specialized transactions in hotels. Provide brief explanation for each.
Q: What is the primary objective of horizontal analysis and its concept
A: Horizontal analysis is a financial statement analysis. Horizontal analysis used to compare historic...
Q: Exercise 16-17 (Algo) Weighted average: Production cost report LO P2 Oslo Company produces large qua...
A: Equivalent unit express in terms of number of partially completed unit has smaller unit that is full...
Q: Required Compute the percentage of completion, gross profit and revenue to be recognised for each of...
A: AASB15 Revenue from contracts with customers is also applicable for construction contracts. The main...
Q: On August 1, 20x1, German Corp. acquired all the identifiable assets and assumed the liabilities of ...
A: As per IFRS 3 Acquisition-related costs incurred by the acquiring company to effect the business com...
Q: What are the reasons which cause investor managing their portfolios passively to make changes their ...
A: Answer: There are two types of investors: Active Passive Passive investors are those who invests i...
Q: Continental Tyre Corporation is capable of producing 30,000 units of tyres per month. Below is infor...
A: solution note As per the Q&A guideline we are required to answer the first question only . Pleas...
Q: Conrad Playground Supply underwent a restructuring in 2021. The company conducted a thorough interna...
A: A journal entry is a form of accounting entry that is used to report a business transaction in a com...
Q: health insurance plan is also available. b.Long-term care premiums may not be deducted within specif...
A: In a nutshell, the self-employed health insurance deduction allows self-employed people to deduct 10...
Q: Mr. Lim ran for a government position during the country’s 2019 elections. He received campaign fund...
A: Answer: Campaign fund donations = Php 100 M Campaign related expenses = Php 75M Excess funds = Php 2...
Q: Consider the unadjusted trial balance of Riverdale Company at June 30, 2016, and the related month-e...
A: Note : Since you have posted a question with multiples sub-parts , we will do the first three sub-pa...
Q: I keep working this problem over and over and been working on it but cant seem to get it right ...
A: Effective price for components generally refers to average purchase price per carton, although here ...
Q: Ly engage in discussi e11 strategy is employed rming groun technique
A: Decision making refers to the procedure of making the choices through assessing, identifying the dec...
Q: Actual Year Projected Year 2022 2021 Revenues - high school students 88,200 110,300 Revenues - adult...
A: Answer ; Income Statement Particulars 2021 Projected 2022 Revenue High School Students 88200 11...
Q: Jeremy earned $101,900 in salary and $7,900 in interest income during the year. Jeremy’s employer wi...
A: In USA as per IRS rules head of household status allows parents or adults...
Q: A Blue Ocean Co. has the following balance sheet: Cash ...
A: Projected Sales in Year 1 = Current Sales + Increase in sales
Q: SOUND CORE WIRELESS sells a variety of mobile telephone accessories including several brands of Wir...
A: Perpetual Inventory System – Under Perpetual inventory system on every sales transaction cost of goo...
Q: Walsh & Coggins, a professional accounting firm, collects cost information about the services they p...
A: Cost Data It is important to collect required cost information which are pertained with the business...
Q: Lals used $ 8,500 $20,900 es or anager's salary sts $10,500 $ 1,870 $ 6,070 $ 9,230 $ 4,650 l manufa...
A: Manufacturing overhead are the indirect cost incurred during production and are not directly re...
Q: One reason that an cntity is allowed to change its accounting policy is when It is required by an a...
A: Accounting Policies- Accounting principles are the ethics that are to be followed by an accountant ...
Q: FDN Company reported Accounts Receivable of P10,000,000 on December 31, 2021. Allowance for Doubtful...
A: Total estimated uncollectible accounts = Accounts receivable x Percent uncollectible Allowance for d...
Q: During 2019 , Lina Co. incurred the following costs: Testing in search for process alternatives $ 40...
A: Step 2 in solution.
Q: Norman Company produced 1,000 units of a product which was sold at a price of P95.00 each. Total sel...
A: Conversion costs are costs related with direct labour and manufacturing overhead of the business. Co...
Q: lank) Saved Search (Alt+Q) Shaw Slide Show Record Review View Help Treasury Stock Practice Exercises...
A: Treasury stock of corporate stock that already sold to investors and company has bought back.
Q: Net Carrying Amount of machineries are part of the net operating working capital True False
A: Solution Note Dear student as per the Q&A guideline we are required to answer the first question...
Q: For each of the summarized transactions for the Village of Sycamore General Fund, prepare the genera...
A: SOLUTION A JOURNAL IS AN COMPANY'S OFFICIAL BOOK IN WHICH ALL BUSINESS TRANSACTIONS ARE RECORDED IN ...
Q: Management at C. Pier Press has decided to allocate costs of the paper’s two support departments (ad...
A: Cost allocation is a process of allocating overhead cost of service department to the operating depa...
Q: per bond, at 105. Eá An entity issued 5,000 10-year bonds, face amount pond is accompanied by one wa...
A: Solution Given Issue price 105 Coupon rate on bond 10% Market rate of similar bond w...
Q: The unadjusted Trial Balance Columns of a worksheet total $85,500. The Adjustments columns contain e...
A: Introduction:- Unadjusted trial balance contains list of all the general ledger balances before maki...
Q: Awesome Bank granted a loan to a borrower, on January 1, 2021. The interest rate on the loan is 10% ...
A: Loans Receivable It is important to keep the track on the loan receivable which is one of the revenu...
Q: How much is the net profit of the joint arrangement? D253 500
A: Net profit is the profit which a company earns after all the expenses and cost of goods sold has bee...
Q: iness. For example, Coca‐Cola has announced that it wants to buy China Huiyuan Juice Gr
A: The details are discussed as follows
Q: ithdrew $20,800 from the business during the current year. The owner's capital account before closin...
A: Tara Westmont, the proprietor of Tiptoe Shoes, had annual revenues of $192,000, expenses of $107,200...
Q: What is the incremental cost incurred if the company increases production and sales from 12,500 to 1...
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question...
Q: Kingbird Inc. issued $2,100,000 of convertible 10-year bonds on july 1,2020. The bonds provide for 1...
A: a. % of bond converted = $210,000/$2,100,000 = .10 or 10% Period of Amortization = 10 x 12 = 120 mon...
Q: The following are selected budgeted data for Green Company for the coming year: Budgeted sales ₱60...
A: Margin of safety: Margin of safety is the point after which profit will be happen in multiple of co...
Q: Diane’s Designs is a small business run out of its owner’s house. For the past 6 months, the company...
A: Variance analysis is one of the technique of management accounting, under which actual data is compa...
Q: If a pension plan is both contributory and qualified, it is
A: First let us understand the key terms in the question. Pension plan- A Pension plan is an accumulate...
Q: Bramble Corp. reported the following in its 2022 and 2021 income statements.
A: Gross Profit It is the profit that business makes after deduction of direct expenses related to prod...
Q: The computation of total asset requirement is similar with judgmental approach' true or false Net ...
A: The answers for true or false questions and relevant explanation are presented hereunder : What is j...
Q: F. Mercury, Capital account has a credit balance of $23,8000 before closing entries are made. If tot...
A: Solution: net income for the period closed to capital account = Revenues - expenses = 75200 - 55000 ...
Q: The town council of Riverside estimated revenues for 2020 to be $685,000 from property taxes and $16...
A: Budget: A budget is an expectation of income and costs for a defined future period of time that is o...
Q: her new house. She can repay the loan in either of the two ways described below. (a) Five equal ann...
A: Inputs Borrowing Amount or Loan Amount = 5000
Q: Ising the dropdown buttons, select the Item that accurately describes the values that either etained...
A: Retained earnings refers to the amount which is left from the profit of company after paying all the...
Q: Butrico Manufacturing Corporation uses a standard cost system, records materials price variances whe...
A: Answer - Direct Materials Price Variance - Direct material price variance is the difference betwee...
Q: Tara Westmont, the proprietor of Tiptoe Shoes, had annual revenues of $186,000, expenses of $104,200...
A: Stockholders' equity: Stockholders' equity means the net assets available to shareholders after dedu...
Q: Adamson Corporation is considering four average-risk projects with the following costs and rates of ...
A: The question is based on the concept of Financial Management.
Q: The following are selected budgeted data for Green Company for the coming year: Budgeted sales ₱60...
A: Breakeven point is point at which no profit no loss, means total cost is equal to total revenue. For...
Q: g. An increase in the Deferred Tax Liability account on the statement of financial position is recor...
A: Solution Note Dear student as per the Q&A guideline we are required to answer the first question...
Q: 4. Under the allowance method, the entries at the time of collection of an account previously writte...
A: SOLUTION NET INCOME = TOTAL REVENUE - TOTAL EXPENSES.
Q: Maglie Company manufactures two video game consoles: handheld and home. The handheld consoles are sm...
A: The overhead cost is allocated to the production on the basis of predetermined overhead rate.
In the world of specialized industries, identify some specialized transactions in hotels. Provide brief explanation for each.
Accounting in the Hotel industry normally pertains to providing accommodation and food. Although, the extent of accounting depends upon the nature and size of a particular hotel. Going past the basic provision of food and accommodation, many hotels provide other facilities such as entertainment oriented services like casinos, resorts etc.
Therefore, various specialized transactions in the hotel industry are evident.
Step by step
Solved in 2 steps
- In the world of specialized industries, identify five specialized transactions in hotelsClassify the following organization’s as professional service firms, mass service entities or service shops. In each case, explain the reason for your classification.How would a hotel chain use a property management system to incorporateitems from individual hotels into their corporate financial statements?
- Suggest an appropriate activity base (or cost driver) for each of the following organizations: (a) hotel, (b) hospital, (c) computer manufacturer, (d) computersales store, (e) computer repair service, and (f) public accounting firm.Pacific Hotels operates a centralized call center for the reservation needs of its hotels. Costs associated with use of the center are charged to the hotel group (luxury, resort, standard, and budget) based on the length of time of calls made (time usage). Idle time of the reservation agents, time spent on calls in which no reservation is made, and the fixed cost of the equipment are allocated based on the number of reservations made in each group. Due to recent increased competition in the hotel industry, the company has decided that it is necessary to better allocate its costs in order to price its services competitively and profitably. During the most recent period for which data are available, the use of the call center for each hotel group was as follows. Division Time Usage (thousands of minutes) Number of Reservations (thousands) Luxury 220 136 Resort 110 204 Standard 440 425 Budget 330 935 During this period, the cost of the…For each office or business segment, indicate which type of Responsibility Center it is: a. A retail location, such as the Apple Store b. A manufacturing division that manages its own facilities and production equipment c. Call center for a warranty claims processing d. Consulting department of an accounting firm e. Quality control department for a golf ball manufacturer PreviousNext
- Give an example of an application of revenue management that you have seen orheard of outside of airlines and hotels. Describe how it is offeredplease compare and contrast the importance of investing and financing activities for the average company in the hotel industry versus the average company involved in computer assemblyDiscuss how a furniture shop may examine investment prospects in order to guarantee that choices are made in accordance with the business's requirements and financial management plan.
- For each office or business segment, indicate which type of Responsibility Center it is: a. Quality control department for a golf ball manufacturer b. Consulting department of an accounting firm c. A retail location, such as the Apple Store d. The sales department at an car dealership e. Maintenance department of a luxury resort ["", "", "", "", "", ""]What secondary source of data can I use for the following research topic: COVID-19 : A Threat to the Financial Resiliency of Hotel Employees. Include citations or links if possibleExplain the Research Significance following research topic: COVID-19 : A Threat to the Financial Resiliency of Caribbean Hotel Employees.
