Homework Answers
| Difference | ||||
| Forecast ($) | Actual ($) | $ | % | |
| REVENUE | ||||
| Rooms | 784000 | 951000 | 167000 | 21.30% |
| Food and Beverage | 280000 | 210000 | -70000 | -25.00% |
| Other Operated Departments | 33600 | 34500 | 900 | 2.68% |
| Rentals and Other Income | 22400 | 21750 | -650 | -2.90% |
| Total revenue | 1120000 | 1217250 | 97250 | 8.68% |
| DEPARTMENTAL EXPENSES | ||||
| Rooms | 235200 | 266250 | 31050 | 13.20% |
| Food and Beverage | 210000 | 174200 | -35800 | -17.05% |
| Other Operated Departments | 20250 | 19850 | -400 | -1.98% |
| Total departmental expenses | 465450 | 460300 | -5150 | -1.11% |
| TOTAL DEPARTMENTAL INCOME | 654550 | 756950 | 102400 | 15.64% |
| UNDISTRIBUTED OPERATING EXPENSES | ||||
| Administrative and General | 100800 | 102450 | 1650 | 1.64% |
| Sales and Marketing | 78400 | 77850 | -550 | -0.70% |
| Property Operation and Maintenance | 56000 | 61250 | 5250 | 9.38% |
| Utilities | 44800 | 45700 | 900 | 2.01% |
| Total Undistributed Expenses | 280000 | 287250 | 7250 | 2.59% |
| GROSS OPERATING PROFIT | 374550 | 469700 | 95150 | 25.40% |
| MANAGEMENT FEES | 56000 | 60850 | 4850 | 8.66% |
| INCOME BEFORE FIXED CHARGES | 318550 | 408850 | 90300 | 28.35% |
| FIXED CHARGES | ||||
| Rent | 12000 | 12000 | 0 | 0.00% |
| Property and Other Taxes | 24000 | 24000 | 0 | 0.00% |
| Insurance | 20000 | 20000 | 0 | 0.00% |
| Total fixed Charges | 56000 | 56000 | 0 | 0.00% |
| NET OPERATING INCOME | 262550 | 352850 | 90300 | 34.39% |
| LESS: REPLACEMENT RESERVES | 120000 | 120000 | 0 | 0.00% |
| ADJUSTED NET OPERATING INCOME | 142550 | 232850 | 90300 | 63.35% |
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Difference Forecast ($) Actual ($) $ % REVENUE Rooms Food and Beverage Other Operated Departments Rentals...
Average Number of rooms 200 2015 170 $ 75% 128 $ 2016 175 $ 77% 135...
Average Number of rooms 200 2015 170 $ 75% 128 $ 2016 175 $ 77% 135 $ 2017 177 $ 78% 138 $ 2018 179 $ 78% 140 $ 2019 D 183 78% 143 $ $ 9,307,500 $ 9,836,750 $ 10,078,380 $ 10,192,260 $ 10,420,020 $ 2,030,528 $ 2,030,528 $ 2,030,528 $ 2,030,528 $ 2,030,528 $ 207,043 $ 207,043 $ 207,043 $ 207,043 $ 207,043 $ 90,300 $ 90,300 $ 90,300 $ 90,300 $ 90,300 $ 11,635,371 $ 12,164,621 $...
Prepare the pro forma income statement for a two-department company A hotel operation has 120 rooms...
Prepare the pro forma income statement for a two-department company A hotel operation has 120 rooms and a 100-seat restaurant. Please prepare a pro forma income statement for the next year to determine the forecasted net income. Rooms department: In the previous year of operations the occupancy rate was 70% and the average room rate was $48. The GM is forecasting the occupancy rate to increase by 5% and the average room rate is to be increased by $4. Cost...
1. Which of the following are elements of revenue? a. food and beverage b. volume and...
1. Which of the following are elements of revenue? a. food and beverage b. volume and price c. profits and cash flow d. advertising and profits 2. Ignoring price elasticity, which of the following is the best contributor to larger profits? a. increase in menu prices b. increase in customers c. increase in advertising d. inelastic demand 3. Which of the following can be used to forecast sales? a. statistical models b. CVP c. moving average method d. all of...
The Beach M (RM has woma operated departments rooms and oth Agim you as of December...
The Beach M (RM has woma operated departments rooms and oth Agim you as of December 31, 2012 1. The BBM invested $30,000 on July 1, 20X2, in Daytona Aircraft Bonds. The funds wet Problem 20 138 Che Account Balance Insurance (hine) Rams department-salaries and wages Ford deurtment - salaries and wages Supplies & other --Food department Food purchases Roxam sales Interest income Cost of food sold Rood sales A&G-salaries Advertising Maintenance-contract Information & telecommunications systems Depreciation Electricity Heating oil...
Problem 17: The Greenhill Hotel’s total revenue for 20X1 totaled $5,000,000, while total expenses totaled $4,500,000....
Problem 17: The Greenhill Hotel’s total revenue for 20X1 totaled $5,000,000, while total expenses totaled $4,500,000. Assume the sources of its revenue and the distribution of its expenses were exactly like the lodging industry averages shown in Exhibit 1 of the chapter. Required: What was the hotels net income for 20X1? What were the hotel’s room sales for 20X1? What were the hotel’s rentals and other income for 20X1? What were the hotels salaries, wages, and benefits for 20X1? Exhibit...
please help! Problem No. 1 Purpose: To incorporate the concepts related to the Income Statement, Balance...
please help!
Problem No. 1 Purpose: To incorporate the concepts related to the Income Statement, Balance Sheet, Statement of Cash Flows and Ratio Analysis. Resources Provided: 1. Summary Operating Statement and Statistics 2. Comparable Balance Sheet with Additional Information 3. Statement of Cash Flow Template Required: STATEMENTS TO BE USED TO COMPLETE ITEM COMPARATIVE STATEMENT ITEM OPERATING BALANCE OF CASH STATEMENT SHEET FLOWS Re-Create and finish financial statement in Excel using PDF provided. X X Complete Vertical Analysis Complete Horizontal...
Gila Fashions operates three departments: Men's, Women's, and Accessories. Departmental operating income data for the third...
Gila Fashions operates three departments: Men's, Women's, and Accessories. Departmental operating income data for the third quarter of 2016 are as follows: 2 (Click the icon to view the data.) Assume that the fixed costs assigned to each department include only direct fixed costs of the department: Salary of the department's manager • Cost of advertising directly related to that department If Gila Fashions drops a department, it will not incur these fixed costs. Under these circumstances, should Gila Fashions...
this is the entire thing together C $ 200 2015 170 $ 75% 128 $ 2016...
this
is the entire thing together
C $ 200 2015 170 $ 75% 128 $ 2016 175 $ 77% 135 $ 2017 177 $ 78% 138 S 2018 179 $ 78% 140 $ 2019 183 78% 143 $ $ 9,307,500 $ 9,836,750 $ 10,078,380 $ 10,192,260 $ 10,420,020 $ 2,030,528 $ 2,030,528 $ 2,030,528 $ 2,030,528 $ 2,030,528 $ 207,043 S 207,043 $ 207,043 $ 207,043 $ 207,043 $ 90,300 $ 90,300 $ 90,300 $ 90,300 $ 90,300 $ 11,635,371...
Question 6 2015 2014 Revenues Assets Current Assets Sales Points out of 1.00 Flag question Cash...
Question 6 2015 2014 Revenues Assets Current Assets Sales Points out of 1.00 Flag question Cash Accounts Receivable Credit Card Receivable Marketable Securities Notes Receivable Inventory Prepaid Expenses Total Current Assets $25,000 $5,000 $7,000 $20,000 $30,000 $32,000 $40,000 $159,000 $23,000 $4,500 $6,000 $18,000 $25,000 $27,000 $36,000 $139,500 Cash Sales A/R Sales Credit Card Sales Total Sales Cost of Sales Gross Proli $145,000 $51.000 $76,000 $272,000 $73,440 5198,560 Direct Operating Expenses Payroll Expenses Other Expenses Total Departmental Expenses $27,200 $24.480 $51,680...
Question 7 2015 2014 Revenues 2015 Not yet answered $45,000 Points out of 10.00 $21,000 Flag...
Question 7 2015 2014 Revenues 2015 Not yet answered $45,000 Points out of 10.00 $21,000 Flag question Assets Current Assets Cash Accounts Receivable Credit Card Receivable Marketable Securities Notes Receivable Inventory Prepaid Expenses Total Current Assets $25,000 $5,000 $7,000 $20,000 $30,000 $32,000 $40,000 $159,000 $76,000 $142.000 $22,000 $4,500 $6,000 $18,000 $25,000 $27,000 $36.000 $139,500 Cash Sales NR Sales Credit Card Sales Total Sales Cost of Sales Gross Profit $34,340 $102,660 Direct Operating Expenses Payroll Expenses Other Expenses Total Departmental Expenses...
Average Number of rooms 200 2015 170 $ 75% 128 $ 2016 175 $ 77% 135 $ 2017 177 $ 78% 138 $ 2018 179 $ 78% 140 $ 2019 D 183 78% 143 $ $ 9,307,500 $ 9,836,750 $ 10,078,380 $ 10,192,260 $ 10,420,020 $ 2,030,528 $ 2,030,528 $ 2,030,528 $ 2,030,528 $ 2,030,528 $ 207,043 $ 207,043 $ 207,043 $ 207,043 $ 207,043 $ 90,300 $ 90,300 $ 90,300 $ 90,300 $ 90,300 $ 11,635,371 $ 12,164,621 $...
The Beach M (RM has woma operated departments rooms and oth Agim you as of December 31, 2012 1. The BBM invested $30,000 on July 1, 20X2, in Daytona Aircraft Bonds. The funds wet Problem 20 138 Che Account Balance Insurance (hine) Rams department-salaries and wages Ford deurtment - salaries and wages Supplies & other --Food department Food purchases Roxam sales Interest income Cost of food sold Rood sales A&G-salaries Advertising Maintenance-contract Information & telecommunications systems Depreciation Electricity Heating oil...
please help!
Problem No. 1 Purpose: To incorporate the concepts related to the Income Statement, Balance Sheet, Statement of Cash Flows and Ratio Analysis. Resources Provided: 1. Summary Operating Statement and Statistics 2. Comparable Balance Sheet with Additional Information 3. Statement of Cash Flow Template Required: STATEMENTS TO BE USED TO COMPLETE ITEM COMPARATIVE STATEMENT ITEM OPERATING BALANCE OF CASH STATEMENT SHEET FLOWS Re-Create and finish financial statement in Excel using PDF provided. X X Complete Vertical Analysis Complete Horizontal...
Gila Fashions operates three departments: Men's, Women's, and Accessories. Departmental operating income data for the third quarter of 2016 are as follows: 2 (Click the icon to view the data.) Assume that the fixed costs assigned to each department include only direct fixed costs of the department: Salary of the department's manager • Cost of advertising directly related to that department If Gila Fashions drops a department, it will not incur these fixed costs. Under these circumstances, should Gila Fashions...
this
is the entire thing together
C $ 200 2015 170 $ 75% 128 $ 2016 175 $ 77% 135 $ 2017 177 $ 78% 138 S 2018 179 $ 78% 140 $ 2019 183 78% 143 $ $ 9,307,500 $ 9,836,750 $ 10,078,380 $ 10,192,260 $ 10,420,020 $ 2,030,528 $ 2,030,528 $ 2,030,528 $ 2,030,528 $ 2,030,528 $ 207,043 S 207,043 $ 207,043 $ 207,043 $ 207,043 $ 90,300 $ 90,300 $ 90,300 $ 90,300 $ 90,300 $ 11,635,371...
Question 6 2015 2014 Revenues Assets Current Assets Sales Points out of 1.00 Flag question Cash Accounts Receivable Credit Card Receivable Marketable Securities Notes Receivable Inventory Prepaid Expenses Total Current Assets $25,000 $5,000 $7,000 $20,000 $30,000 $32,000 $40,000 $159,000 $23,000 $4,500 $6,000 $18,000 $25,000 $27,000 $36,000 $139,500 Cash Sales A/R Sales Credit Card Sales Total Sales Cost of Sales Gross Proli $145,000 $51.000 $76,000 $272,000 $73,440 5198,560 Direct Operating Expenses Payroll Expenses Other Expenses Total Departmental Expenses $27,200 $24.480 $51,680...
Question 7 2015 2014 Revenues 2015 Not yet answered $45,000 Points out of 10.00 $21,000 Flag question Assets Current Assets Cash Accounts Receivable Credit Card Receivable Marketable Securities Notes Receivable Inventory Prepaid Expenses Total Current Assets $25,000 $5,000 $7,000 $20,000 $30,000 $32,000 $40,000 $159,000 $76,000 $142.000 $22,000 $4,500 $6,000 $18,000 $25,000 $27,000 $36.000 $139,500 Cash Sales NR Sales Credit Card Sales Total Sales Cost of Sales Gross Profit $34,340 $102,660 Direct Operating Expenses Payroll Expenses Other Expenses Total Departmental Expenses...
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