HW 4.12 and 4.15

# 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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