Question

A restaurant makes the following food purchases, which will go directly to the stockroom: Vendor A for $50 cash and Vendor B

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Inventory value =$50+$450=$500

Inventory value =food purchased on cash+food purchased on credit.

Add a comment
Know the answer?
Add Answer to:
A restaurant makes the following food purchases, which will go directly to the stockroom: Vendor A...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • You are the owner of a restaurant which makes X food. The restaurant employs 50 people...

    You are the owner of a restaurant which makes X food. The restaurant employs 50 people full time, part-time, and casually which are cooks, servers, and two delivery drivers. Now due to COVID 19 virus, the restaurant is only open for take out and delivery service this month. Discuss BUSINESS STRATEGIES to consider to reduce staff. Be very THEORETICAL.

  • the avereage amount of money in tips a food server makes at this particulr restaurant is...

    the avereage amount of money in tips a food server makes at this particulr restaurant is 91$ with a standard deviation of 16. What is the minimum percentage of food servers that make between 50 and 132.

  • A restaurant at which the periodic inventory system is used had the following Food sales:                           &nbs

    A restaurant at which the periodic inventory system is used had the following Food sales:                                         $467,320 Last month’s ending inventory:         $27,000 Purchases this month:                         $186,662 Ending inventory this month:             $50,000 Employee meals:                                $100 Number of customers:                        11,000 Seats occupied:                                   11,000 Seats not occupied:                             600 a. what is the cost of food sales from this information? b. what is the food cost %? c. what is the average check?

  • The owner of a small fast food restaurant recorded the sale amount for a random sample...

    The owner of a small fast food restaurant recorded the sale amount for a random sample of 100 purchases from his restaurant. The resulting values were used to produce this graph. Which of the following are true of this graph? Frequency 25 20 15 10 0 0 10 20 30 40 50 60 Sales Select one or more: a. This histogram is best described as skewed to the left. b. This histogram is best described as skewed to the right....

  • Many fast food restaurant chains like McDonalds and others have some stores which are directly owned...

    Many fast food restaurant chains like McDonalds and others have some stores which are directly owned by the company (McDonalds) which hires a manager and staff to manage the restaurants, and some stores that they sell a franchise to an outside company/individual who operates the restaurants and pays the company (McDonalds) a franchise fee and keeps the rest of the profits. The franchise fee will have to be paid no matter what the profits of the restaurant may be. (a)...

  • Vernon Books buys books and magazines directly from publishers and distributes them to grocery stores. The...

    Vernon Books buys books and magazines directly from publishers and distributes them to grocery stores. The wholesaler expects to purchase the following inventory. April $120,000 May $140,000 June $152,000 Required purchases on account) Vernon Books's accountant prepared the following schedule of cash payments for inventory purchases. Vernon Books's suppliers require that 95 percent of purchases on account be paid in the month of purchase: the remaining 5 percent are paid in the month following the month of purchase. Required a....

  • Value-Added versus Non-Value-Added at a Restaurant Go to a fast-food restaurant (or think of the last...

    Value-Added versus Non-Value-Added at a Restaurant Go to a fast-food restaurant (or think of the last time you were at a fast-food restaurant). Observe the steps involved in providing a meal to a customer. You will be watching for value-added steps and non-value-added steps. Answer the following questions. Basic Discussion Questions Describe the steps involved with delivering the meal to the customer that you can observe. Describe the “behind-the-scenes” processes that are likely in the restaurant, such as cleaning, stocking,...

  • Rooney Books buys books and magazines directly from publishers and distributes them to grocery stores. The...

    Rooney Books buys books and magazines directly from publishers and distributes them to grocery stores. The wholesaler expects to purchase the following inventory: April $ 106,000 May $126,000 June $138,000 Required purchases (on account) Rooney Books' accountant prepared the following schedule of cash payments for inventory purchases. Rooney Books' suppliers require that 90 percent of purchases on account be paid in the month of purchase; the remaining 10 percent are paid in the month following the month of purchase. Required...

  • Vivian Books buys books and magazines directly from publishers and distributes them to grocery stores. The...

    Vivian Books buys books and magazines directly from publishers and distributes them to grocery stores. The wholesaler expects to purchase the following inventory. Required purchases (on account) April May June $100,000 $120,000 $132,000 Vivian Books's accountant prepared the following schedule of cash payments for inventory purchases. Vivian Books's suppliers require that 90 percent of purchases on account be paid in the month of purchase; the remaining 10 percent are paid in the month following the month of purchase. Required a....

  • Vernon Books buys books and magazines directly from publishers and distributes them to grocery stores. The...

    Vernon Books buys books and magazines directly from publishers and distributes them to grocery stores. The wholesaler expects to purchase the following inventory: Required purchases (on account) April $116,000 May $136,000 June $148,000 Vernon Books' accountant prepared the following schedule of cash payments for inventory purchases. Vernon Books' suppliers require that 85 percent of purchases on account be paid in the month of purchase; the remaining 15 percent are paid in the month following the month of purchase. Required a....

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT