Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jessie Jones has just been named the general manager of the Balmour Hotel. The hotel has 300 rooms and a full-service restaurant. January 1 of

image text in transcribedimage text in transcribed
Jessie Jones has just been named the general manager of the Balmour Hotel. The hotel has 300 rooms and a full-service restaurant. January 1 of this year is her first day of work and Jessie has received the following information regarding the property's December of last year operating results: Balmour Hotel Room revenue: 945,000 Rooms sold: 6,300 Rooms available for sale: 9,000 Restaurant cost of goods sold: 50,880 Restaurant revenue: 169,600 Property net income: 222,920 Property total sales: 1,114,600 (a) ADR (b) |Occupancy % (c) |RevPAR S (d) Restaurant product cost % (e) Property profit margin What was the hotel's average daily rate (ADR) for June? Circle your response accordingly. $130.00 $140.00 $150.00 $120.00 What was the hotel's occupancy percentage for June? 80.0% 65.0% 60.0% 70.0% What was the hotel's RevPAR for June? $105.00 $100.00 $110.00 $115.00What was the restaurant product cost percentage for June? 29.0% 30.0% 32.0% 28.0% What was the property's profit margin for June? 21.0% 19.0% 18.0% 20.0% Straight Line Depreciation - Complete below table as required. Business Van's Expense $ 60,000 Straight Line Depreciation Year Expense Amount Balance Sheet Value 1 $ $ 2 S S 3 4 5 $0.00 Adam invested $5,000,000 cash in the motel. Complete below Entries as required: Cash Owners' Equity

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Carl S Warren, James M Reeve, Jonathan Duchac

12th Edition

0538478519, 9780538478519

More Books

Students also viewed these Accounting questions

Question

What is the Easterlin Paradox?

Answered: 1 week ago

Question

Self-awareness is linked to the businesss results.

Answered: 1 week ago

Question

1. Too reflect on self-management

Answered: 1 week ago

Question

Food supply

Answered: 1 week ago