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/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±
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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.
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Answer 21092016 accounting.xlsx

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...

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