View the step-by-step solution to:

/120 HTM 141 Financial Accounting for the Service Industries Assignment 5 Name(s): The use of this template is required. For tables, type the your...

Hospital industry financial accounting - income statement 

8 problems total 


/120 HTM 141 Financial Accountng for ±he Service Indus±ries Assignmen± 5 Name(s): The use of ±his ±empla±e is required. For ±ables, ±ype ±he your answers in ±he ±ables provided. For all journals you mus± include a da±e and explanaton wi±h each postng. For all ledgers you mus± include a da±e and balance wi±h each postng. You mus± show your work! Remember ±o save and submi± ±his ²le using your las± name followed by your ²rs± and middle initals and ±he assignmen± number. Don'± forge± ±o pu± all ±eam members names on ±he assignmen±
Background image of page 01
Problem 1 (Taken from Chapter 5, Problem 1) 15 points Given the informa±on below calcuate the cost of goods used and cost of goods sold. Record the transac±ons in the general journal then post in the appropriate ledger. Purchases $ 57,900.00 Food Inventory Beginning of December, 2009 $ 1,160.00 Food Inventory end of December, 2009 $ 1,450.00 Transfers from Bar to Kitchen during December $ 95.00 Employee Meals during December $ 723.00 Transfers from Kitchen to Bar during December $ 50.00 Promo±onal Meals during December $ 432.00 Cost of food used during December: Cost of food sold during December: Using the account numbers ro the right, record the adjustments from listed above in the general journal below: Use pos±ng date of December 31, 2009. Assume that all purchases and that preveious weekly expenses have been properly recorded prior to that date. This means that you only have two entries: one adjus±ng for the change in the inventory and the other adjus±ng the change from cost of goods used to cost of goods sold. Transfer to Bar is an expense account.
Background image of page 02
Show entire document
Sign up to view the entire interaction

Top Answer

Dear anitaku0414,... View the full answer

Answer 21092016 accounting.xlsx

/120
HTM 141
Financial Accounting for the Service Industries
Assignment 5
Name(s): The use of this template is required.
For tables, type the your answers in the tables provided.
For all journals...

Sign up to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
Ask a homework question - tutors are online