HW 4.12 and 4.15 - Jennifer Bryant A31746580 Problem 4.12...

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A31746580 1/30/2008 Problem 4.12 Income Statement Woods' Place December 31, 20X1 Net Revenue Cost of Sales Operating Departments Rooms $1,500,000.00 $- $400,000.00 Food $450,000.00 $137,000.00 $105,000.00 Telephone $80,000.00 $25,000.00 $20,000.00 Rental and Other Income $8,000.00 $- $- Total Operating Departments $2,038,000.00 $162,000.00 $525,000.00 Undistributed Operating Expenses Administrative and General $100,000.00 Sales and Marketing $24,000.00 Property Operation and Maintenance $25,000.00 Utilities Total Undistributed Expenses $- $- $149,000.00 Income Before Management Fees and Fixed Charges $2,038,000.00 $162,000.00 $674,000.00 Management Fees Rent, Property Taxes, and Insurance Depreciation Net Operating Income Interest Expense Income Before Income Taxes Income Taxes Net Income Footnotes 1. Other Expenses = Other Operating Expenses + Commissions (160,000 + 3,000) 2. Cost of Goods Sold = (BI) 12,000 + (Purchases) 140,000 -(EI) 15,000 3. Net Revenue = Interest Revenue + Rental Revenues (1000 + 7000) 4. Administrative Payroll and Related = Manager's Salary + Salaries and Related Expenses (45,000 + 55,000) 5. Marketing Other Expenses = 50,000 + 14,000 Other Selling Expenses 6. Electric Expense + Water Expense (35,000 + 27,000)
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HW 4.12 and 4.15 - Jennifer Bryant A31746580 Problem 4.12...

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