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Hotel 1776 has provided the following selected financial information; I need help calculating the amounts of accounts receivable, food inventory, current liabilities, total amount debt,
Hotel 1776 has provided the following selected financial information; I need help calculating the amounts of accounts receivable, food inventory, current liabilities, total amount debt, and total amount of owners equity.
Hotel 1776 has provided the following selected financial information: 1. The balance sheet amounts are the same at the beginning and end of the year. 2. All sales are credit sales. 3. A year has 365 days. 4. Current assets consist of cash, food inventory, and accounts receivable. 5. Cash equals $100,000. 6. Total assets consist of current assets and property and equipment. Required: 1. Calculate the amount of accounts receivable. 2. Calculate the amount of food inventory. 3. Calculate the amount of current liabilities. 4. Calculate the total amount of debt. 5. Calculate the total amount of owners' equity. Hotel 1776 has provided the following selected financial information: 1. The balance sheet amounts are the same at the beginning and end of the year. 2. All sales are credit sales. 3. A year has 365 days. 4. Current assets consist of cash, food inventory, and accounts receivable. 5. Cash equals $100,000. 6. Total assets consist of current assets and property and equipment. Required: 1. Calculate the amount of accounts receivable. 2. Calculate the amount of food inventory. 3. Calculate the amount of current liabilities. 4. Calculate the total amount of debt. 5. Calculate the total amount of owners' equity Step by Step Solution
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