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Financials for a small diner restaurant entering the market. Build a 3 year pro forma income statement for a family diner restaurant and include the break even point. Include at least one graph.
Expected revenue $350,000 Cost of goods sold $100,000Tax Rate 30%Payroll 19% of revenue Annual insurances $10,000Advertising 1% of revenue Building rent $2000 monthly
Idaho Falls maintains its books and records in a manner that facilitates the preparation of fund financial statements. Prepare all necessary journal entries to record the following events for the year ended December 31, 2014.
calculation of ratio analysis.your company had the following balance sheet and income statement information for
On April 2, Kelvin sold $40,000 of inventory items on credit with the terms 1/10, net 30. Payment on $24,000 sales was received on April 8 and the remaining payment on $16,000 sales was received on April 27. Assuming Kelvin uses the net method of acc..
Bug Company manufactures buggies. Manufacturing a buggy takes 20 units of wood and 1 unit of steel. Scheduled production of buggies for the next 2 months is 500 and 600 units, respectively. Beginning inventory is 4,000 units of wood and 30 units of s..
Morganton Company makes one product and it provided the following information to help prepare the master budget for its four months of operations: The variable selling and administrative expense per unit sold is $1.80. The fixed selling and administr..
Misc Things, Inc. is currently open from 8am to 8pm six days per week. The store is a retail merchandiser that sells cards, supplies, magazines, and a few books. As an experiment, Katie the manager kept the store open for six hours on a Sunday. Resul..
Melnick built a house for Gintzler, but the foundation was defective. Gintzler agreed to accpet the foundation if Melnick guranteed to make future repairs caused by the defects. Melnick agreed but later refused to make any repairs. Melnick argued tha..
A company manufactures cycling equipment. Recently, the vice president of operations of the company has requested construction of a new plant to meet the increasing demand for the company’s bikes. At the time of issuance, the market interest rate for..
Logan Corporation has 30 employees, 10 in "A-line," and 20 in "B-line.” Logan incurred $180,000 in fringe benefits costs last year. How much in fringe benefit costs should be allocated to "A-line"?
After recording lower than anticipated profits last year, Manuel has decided to shut down one of its divisions that is not performing well . Which division should be closed and why?
We know that the Sarbanes-Oxley Act was created as the result of several high-profile fraud cases. Now that the act is over 10 years old, many think that it needs to be updated to reflect the changing times. From the e-Activity, identify and discuss ..
If dividends payable was $85,000 at the beginning of the year and $90,000 at the end of the year, how much cash was paid in dividends during the year?
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