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business
management accounting

Questions and Answers of Management Accounting

A dining room has 75 seats. It is open only for lunch and dinner six days a week (closed Sundays). This particular August has four Sundays. Round your calculations to the nearest dollar. Management
A hotel coffee shop has 130 seats and is open seven days a week for all three-meal periods. During the month of January, it anticipates the following seat turnovers and average food checks:Calculate
The manager of Buff’s Buffet is preparing next year’s budget. She wants to prepare a flexible budget for three different annual revenue levels using a contribution margin income statement. Three
A resort hotel has a dining room that has no business from street trade;it is dependent solely on the occupancy of its rooms for its sales revenue.It has 150 rooms. During the month of June it
A 120-seat family restaurant is open Mondays to Saturdays only for lunch and dinner. On Sundays and holidays, totaling 60 days annually, the restaurant is open for dinner only. During the coming
A restaurant’s average monthly income statement is as follows:The owner is considering two possible alternatives for the coming year:By improving purchasing and reducing portions, cutting the food
a. Budgeted liquor sales at a banquet were 1,500 drinks at $3.15 each.Actual sales were 1,550 drinks at $2.85 each. Determine the price and sales volume variances.b. Banquet food sales for a month
An 80-room motel forecasts its average room rate to be $66.00 for next year at 75 percent occupancy. The rooms department has a fixed wage cost of $171,450. Variable wage cost for housekeeping is
You have been asked to help prepare the operating budget for a proposed new 100-room motel, with a 65-seat coffee shop, 75-seat dining room, and 90-seat cocktail lounge. The operating budget for the
You have the following guest-nights and meals-served figures for the past 12 months for the Inland Inn. Guest Nights Meals Served January February 5,509 7,301 5,811 7,522 March 5,896 7,555 April
The manager of the Hospitality Inn has developed regression analysis equations for forecasting the hotel’s dining room sales volume based on the hotel’s anticipated guest night count. The monthly
What is the purpose of the SCF?
What are the major operating accounts by category analyzed in the SCF, indirect method?
If a current asset account increases, how is the increase treated in the statement of cash flows?
What is the typical noncash item, by name, that is automatically added back in the operating activities section of the SCF?
The financing section of an SCF can analyze three different items by category.What are they?
What are the primary items by category analyzed in the SCF, investing section?
Of what use is the statement of source inflows and use outflows of working capital?
List the three major common source inflows and the three major common use outflows of working capital.
Explain why depreciation expense is treated as a source inflow of working capital.
What is a statement of source inflows and use outflows of working capital?
If a business operation has a current ratio of 1.251, what does this mean relative to working capital?
A monthly income statement reported net income of $80,000. Inventory for resale increased by $14,000. Accounts payable increased by$16,000. Using only these three items, determine the net cash flow
Net income is $260,000; Depreciation expense is $42,000; Accounts receivable increased $2,500; Credit card receivables decreased $4,600;Prepaid insurance increased $2,400; Inventory increased by
Identify how each of the following items would be treated in an analysis of changes to working capital. Answer with the word Inflow to show an increase or Outflow to show a decrease in working
A hotel provided the following information for year 2006: The cash flow from operating activities was $143,200, average current liabilities were $68,300, average total liabilities were $823,300, and
Given the following information regarding investing and financing activities of an SCF, evaluate each of the given transactions and identify to which section, investing (invest) or financing
Assume working capital was $44,000 for a given year. During this year, accounts receivable decreased by $1,400, inventory increased by $8,000, and accounts payable decreased by $2,000. Determine the
Assume the book value of an item of equipment shows $50,000 in year one and $44,000 in year two. Would the $6,000 difference be treated as an inflow source, outflow use, or not shown at all with
A review of a balance sheet indicated the beginning and ending totals of current assets and current liabilities for a one-year operating period. Determine the working capital at the beginning and the
Assume a business enterprise reports its total current assets as $24,000 and its total current liabilities as $16,000. Answer the following:a. What is the amount of working capital?b. What is the
A restaurant purchased new kitchen equipment for $35,000. Old kitchen equipment was sold for $800. A long-term investment was sold for$50,000. Equity stock was bought back (repurchased) for $12,000,
The following are operating transactions that occurred during the current year. Analyze each transaction and explain if the transaction will increase, decrease, or have no effect on working
The following is provided to complete the operating activities section of a statement of cash flows, indirect method.a. Net income for the year is $20,000.b. Accounts receivable increased by
Balance sheet information for a resort hotel reflects the changes to current accounts that occurred over the annual operating period ended December 31, 2005. Cash account balance at December 31,
You have the following comparative balance sheets for a restaurant for the years ending December 31, 2004, and December 31, 2005. Calculate the change in working capital and prepare the
Refer to information provided in the preceding P10.3 and complete in good form an SCF using the indirect method.
A motel has the following comparative balance sheets for two years:From this information, prepare a statement of changes to individual working capital accounts. Assets 12-31-04 12-31-05 Current
With the balance sheet information from Problem 10.5, and the additional information from the income statement and statement of retained earnings, prepare the motel’s statement of changes to
Referring to the preceding Problems 10.5 and 10.6 that presented a comparative balance sheet, income statement, and a statement of retained earnings, complete a statement of cash flows in good form
A catering company reported the following additional financial statements and information for two successive years:Additional financial information:
In Year 2005, the building that was previously rented was purchased for $150,000. The company paid $10,000 cash and assumed a longterm mortgage for $140,000. Depreciation on the building is $7,500
Explain what items a stockholder reading a financial statement might be interested in that are different from the manager of the enterprise.
What is comparative horizontal balance sheet analysis?
Discuss absolute and relative changes with reference to comparative horizontal financial statement analysis.
Why are differences between two comparative statements frequently better shown in percentages rather than only in dollars?
What is the objective of common-size vertical income statements?
How is average sales revenue per guest calculated?
Why are trend results often more meaningful than a comparison limited to two successive accounting periods?
How is a trend index calculated?
In inflationary times, why is comparative analysis and a trend index misleading?
What is the equation for converting past historic period dollars to current period dollars?
A restaurant owner expressed concern about the changes in the cash, credit card receivables, and food and beverage inventories accounts in the months of July and August of the current year. He wants
Complete a common-size vertical analysis for the months of July and August using E3.1’s data.
Complete a common-size vertical analysis of the condensed income statement presented below. Condensed Income Statement Sales revenue Cost of sales Gross margin Operating expenses Operating income
A room’s operation had an average room rate of $48.00 in the first year,$44.00 in Year 2, and $53.00 in Year
Establish a trend index starting with the average room rate for the first year and determine the index numbers for Year 2 and Year 3.
Based on the following, determine the average check per guest. Sales Revenue Guests Dining room Bar-Lounge $128,880 9,206 $ 66,586 5,202
Based on the following, determine the average cost of sales revenue per guest. Cost of Sales Revenue Guests Dining room Bar-Lounge $51,552 9,206 $22,386 5,202
The following data from a restaurant operation show a partially completed comparative income statement analysis for two consecutive years. Determine and fill in the missing values and percentages.
Sales revenue for a restaurant operation is given for the months of March, April, and May of Year 0004. The index numbers are stated for each month.Convert March, April, and May to current dollars.
Present in the proper form a comparative horizontal analysis of the corporate balance sheet shown below. Comment on any items of difference that you consider significant. ASSETS Current Assets Cash
Using the information shown in Problem 3.1, complete a common size vertical balance sheet analysis in proper form for Year 0004 and Year 0005. Comment on any changes you consider significant.
The following information has been extracted from a hotel’s food department for the months of August and September.a. Calculate average check per guest for each sales revenue division for the
A company owns two restaurants in the same town. Operating results for the first three months of the current year for restaurants A and B:The owners of the restaurants are concerned that restaurant B
The sales revenue, food cost of sales, and guests served for a small fastfood carryout division of a restaurant for the past six months are given below.For each of the six months calculate average
A motel had the following annual sales revenue and average room rate figures for the last five years. During this five-year period there were no changes in the number or type of rooms available and
Use the index numbers identified to convert the reported yearly sales revenue to current dollars. After the conversion is completed, comment on the results of your analysis.
Two successive monthly income statements for the food department of a motor lodge are shown below. Present the income statements in a comparative horizontal analysis format. Sales Revenue Room
Using the information presented in Problem 3.7, present in proper format a common-size vertical income statement analysis. Comment on any significant results noted.
Freddy’s Fried Chicken provides you with the following information from 2 successive months of his operation:Using the above information, complete the following:a. Convert the income statement to
You have the following information about Hotshot Hotel’s dining room for the months of October and November:Use this information to comment about the dining room’s operating results for October
You have the following information about the revenue, cost of sales, and accounts receivable for six consecutive periods for a restaurant:For each of the three items, calculate trend percentages.
Describe the three ways in which a ratio can be expressed.
List and briefly discuss the four bases on which a ratio can be compared.
Which three groups are the main users of financial ratios?
What is the value in calculating a current ratio? Contrast how creditors and owners view this ratio.
Why can a hotel, motel, or restaurant usually operate with a current ratio considerably lower than other types of businesses, such as manufacturing companies?
Why is maintaining a current ratio that is too high not a good business practice?
Explain why the calculation of a credit card receivables average collection period is a meaningful statistic.
Define the term profitability.
Why is a high total asset to total liabilities ratio desired by creditors?
Why can the book values of assets be misleading when used in the total assets to total liabilities ratio, or the total liabilities to total assets ratio?
State the equation for the credit card turnover ratio.
Explain the gross return on assets ratio measure; what value is it to a potential creditor?
How does the net return on assets ratio differ from the gross return on assets ratio, and why is its calculation valuable?
Discuss the purpose of a quick ratio.
What does the return on stockholders’ equity measure?
State how revenue per available room is calculated.
Discuss the term financial leverage, or trading on the equity.
List four possible operating ratios that could be used in a food operation.
List and discuss three operating ratios that could be used in a rooms operation.
What is the advantage of calculating the inventory holding period in days?
A restaurant reported the following current assets: cash $12,000, credit card receivables $1,800, accounts receivable $180, food inventory $4,400, and prepaid expenses, $1,120. Current liabilities
Referring to information in Exercise 4.1, calculate working capital and describe what it means.
On March 31, a restaurant reported credit card revenues of $56,280.Credit card receivables began with a balance of $2,884 and ended the month with a balance of $3,120. Answer the following:a. What is
Total current assets reported for an operation were $86,100 and total current liabilities were $62,400. Determine working capital for the period and define its structure and purpose.
You are given the ending working capital for two consecutive years: Year 1 was $10,500, and Year 2 is $11,550. Sales revenue for Year 2 is$878,444. Calculate the working capital turnover ratio.
A restaurant and beverage operation reported the following for the operating month of March, which had 23 operating days.For the month of March, calculate the food inventory turnover ratio and
Prepare a comparative horizontal analysis of the change in each current asset account from Year 1 to Year 2.Express each change in dollars and the percentage each change represents. Comment on each

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