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11 Feb 2019
- Consider the following financial information for the year ended December 31, 2015 for Henry’s Lobster Shack, a thriving restaurant in Jaco, Costa Rica.
Accounts Payable
$ 166,000
Dividends paid during 2015
$ 39,000
Wages and Taxes payable
120,000
Other Liabilities
517,000
Cash balance, Jan. 1/15
84,000
Other Revenues
21,000
Cash balance, Dec. 31/15
94,000
Property and Equipment
1,549,000
Food and Supplies Expense
1,415,000
Restaurant Sales Revenue
3,920,000
Selling and Admin Expenses
235,000
Utilities and Other Expenses
1,104,000
Food and Supply Inventory
87,000
Wages Expense
1,087,000
Notes Payable
235,000
Retained Earnings, Jan 1/15
1,074,000
Other Assets
529,000
Henry’s Contributed Capital
86,000
Prepare a set of financial statements for Henry’s Lobster Shack excluding a Statement of Cash Flow. (13 marks)
- Consider the following financial information for the year ended December 31, 2015 for Henry’s Lobster Shack, a thriving restaurant in Jaco, Costa Rica.
Accounts Payable |
$ 166,000 |
Dividends paid during 2015 |
$ 39,000 |
Wages and Taxes payable |
120,000 |
Other Liabilities |
517,000 |
Cash balance, Jan. 1/15 |
84,000 |
Other Revenues |
21,000 |
Cash balance, Dec. 31/15 |
94,000 |
Property and Equipment |
1,549,000 |
Food and Supplies Expense |
1,415,000 |
Restaurant Sales Revenue |
3,920,000 |
Selling and Admin Expenses |
235,000 |
Utilities and Other Expenses |
1,104,000 |
Food and Supply Inventory |
87,000 |
Wages Expense |
1,087,000 |
Notes Payable |
235,000 |
Retained Earnings, Jan 1/15 |
1,074,000 |
Other Assets |
529,000 |
Henry’s Contributed Capital |
86,000 |
Prepare a set of financial statements for Henry’s Lobster Shack excluding a Statement of Cash Flow. (13 marks)
Jean KeelingLv2
13 Feb 2019