What would the cost of officers meals be

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Q1- A restaurant uses a standard food cost percentage method of computing the cost of officers' meals. What would the cost of officers' meals be if officers' checks totaled $3,000 at menu prices and the standard food cost is 30 percent?

Q2- Accountants for Big-Little Hotels use the straight-line method to depreciate the company's tangible long-lived assets. Assume the following information about a certain tangible long-lived asset:

Asset cost $20,000

Asset's future salvage value $2,000

Asset's useful life 5 years

Q3- Assume a hotel takes out of loan of $5,000 at 6 percent simple annual interest that is due in 100 days. The lender uses an ordinary year. How much is due at the end of the 100 days?

Reference no: EM133189466

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