Question

Practice Exercises ng ty pos of accounts to their balance sheet classiticatio Accounts l'avable Cash I quipment Inventory Kank Loan Accounts Receivabl A. Current Asset B. Current Liability CLong-Term Asset D. Lang-Term Liability E Owner Equity ーRetains! Earnings Taxes P'ayable Initial Capital Accounts -Common Stock 2. Match these equations Revenus-Expenses А. Wirkin Capital B. Pasit Formula D. Cist Peent E Retention/Flow thro 一,Current Assets-Current Liabilities Revenues-Cost of Stles Wage Cost Revenues Wages knefits+Operating Espenes C. ResAR Profit Dellars _ Rev enue Dollars Room Revenues F Departnent Pot Total Rooms Change in Profit Dollars G. Profit Percent Change in Revenue Dollars

Answer 1

Accounts Payables = B.Current Liability

Cash = A.Current Assets

Equipment = C.Long Term Asset

Inventory = A.Current Assets

Bank Loan = D.Long term Liability

Retained Earnings = E.Owner’s Equity

Taxes payable = B.Current Liability

Initial Capital Accounts = E.Owner’s Equity

Common Stock = E.Owner’s Equity

2.Revenue – Expenses = B.Profit Formula

Current Assets – Current Liabilities = A.Working Capital

Revenues – COS + Wages + Benefits + Operating Expenses= F.Department Profit

Wage Cost/Revenues= D.cost percent

Profit Dollars/Revenue Dollars=G.Profit Percent

Room Revenues/Total Rooms=C.RevPAR

Change in Profit Dollars/Change in Revenue Dollars= E.Retention/Flow