Jaguar tea shop located at Davao city has been established in 2010. It has a total of 100 seating capacity and a total cover of 46908 for the year 2020 and 54344 for 2021.Required:Assess the operating expenses part. Provide negative and positive observation. Income Statement2019 and 2020Revenue202020212,490,7601,524,340990,5685,005,6683,780,0002,140,0001,021,9606,941,960Food SalesBeverage SalesMerchandise SalesTotal SalesCost of Sales1,131,194644,270350,1222,125,5861,452,110861,681420,0392,733,830Food CostBeverage CostMerchandise CostTotal Cost of SalesGross Profit2,327,8901,278,319601,9214,208,130Food1,359,566880,070640,4462,880,082BeverageMerchandiseTotal Gross ProfitOperating Expenses48,000180,00050,000183,80080,00097,680540,0001,843,500141,88056,800150,6703,372,330AccountingDepreciationDonation32,000100,00020,000133,60080,00067,880480,0001,423,160141,88051,400105,9202,635,840UtilitiesInsuranceAdvertisingRentalsSalariesMaintenanceTelephoneTransportationTotal Operating ExpensesOperating Income244.24294,879835,80094,880InterestIncome beforeIncome TaxesIncome Taxes149,363740,92088,91017,924Net Profit/Loss131,439652,010

Operating Expenses: In the business world, an operational expenditure is a cost that a company…

lnčômé Stätên 2019 and 2020 2020 2,490,760 1,524,340 990,568 5,005,668 Revenue 2021 3,780,000 2,140,000 1,021,960 6,941,960 Food Sales Beverage Sales Merchandise Sales Total Sales Cost of Sales Food Cost Beverage Cost | Merchandise Cost 1,131,194 644,270 350,122 2,125,586 1,452,110 861,681 420,039 2,733,830 Total Cost of Sales Gross Profit 1,359,566 S80,070 640,446 2,880,082 2,327,890 1,278,319 601,921 4,208,130 Food Beverage Merchandise Total Gross Profit Operating Expenses Accounting Depreciation Donation 32,000 100,000 20,000 133,600 S0,000 67,880 480,000 1,423,160 141,880 51,400 105,920 2,635,840 48,000 180,000 50,000 183,800 80,000 97,680 540,000 Utilities Insurance Advertising Rentals Salaries Maintenance Telephone Transportation Total Operating Expenses 1,843,500 141,880 56,800 150,670 3,372,330 Operating Income Interest 244,242 94,879 835,800 94,880 Income before Income Taxes Income Taxes 149,363 17,924 740,920 88,910 Net Profit/Loss 131,439 652,010

lnčômé Stätên 2019 and 2020 2020 2,490,760 1,524,340 990,568 5,005,668 Revenue 2021 3,780,000 2,140,000 1,021,960 6,941,960 Food Sales Beverage Sales Merchandise Sales Total Sales Cost of Sales Food Cost Beverage Cost | Merchandise Cost 1,131,194 644,270 350,122 2,125,586 1,452,110 861,681 420,039 2,733,830 Total Cost of Sales Gross Profit 1,359,566 S80,070 640,446 2,880,082 2,327,890 1,278,319 601,921 4,208,130 Food Beverage Merchandise Total Gross Profit Operating Expenses Accounting Depreciation Donation 32,000 100,000 20,000 133,600 S0,000 67,880 480,000 1,423,160 141,880 51,400 105,920 2,635,840 48,000 180,000 50,000 183,800 80,000 97,680 540,000 Utilities Insurance Advertising Rentals Salaries Maintenance Telephone Transportation Total Operating Expenses 1,843,500 141,880 56,800 150,670 3,372,330 Operating Income Interest 244,242 94,879 835,800 94,880 Income before Income Taxes Income Taxes 149,363 17,924 740,920 88,910 Net Profit/Loss 131,439 652,010

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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