AC2799 Project Part 3 - Jonathon Myhre AC2799 Project Part...

Info icon This preview shows pages 1–2. Sign up to view the full content.

Jonathon Myhre 9/4/15 AC2799: Project Part 3 Project Part 3 Jonathon Myhre ITT Technical Institute AC2799: Accounting Capstone
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

Jonathon Myhre 9/4/15 AC2799: Project Part 3 Report on Landscapes R U Landscapes R U is an S-Corp that specializes in Landscapes sales and installation. In Landscapes R Us, there are three owners- Jones, Smith and Clark which are contributing equal ratios of capital. Present scenario of Landscapes R Us is loss making because revenues are less than cost. To improve, cash position of the Company, Sales has to be increased in form of price and quantity.
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Income Statement of ‘Landscaped R Us’ is as follows: Revenues Amount ($) Ratio (%) Sales $9,85,000 Closing Stock $1,59,425 Installation Revenue $38,000 Total Revenues $11,82,425 Expenses Opening Stock $2,49,975 Purchases $6,39,955 54% Utility Expenses $8,900 1% Rent Expenses $27,500 2% Advertising Exp. $12,500 1% Sale tax expense $62,300 5% Wage expense $1,11,241 9% Insurance Exp. $3,800 0% Fuel Exp. $1,74,750 15% Repair Exp. $19,250 2% Telephone Exp. $5,750 0% Bank Fee expense $3,810 0% Total Expenses $13,19,731 Loss-$1,37,306-12%...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern