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The following information applies to the Wills Wayside Inn, which is a 200-room lodging facility: Current ratio Acid-test ratio Accounts receivable Operating efficiency ratio
The following information applies to the Wills Wayside Inn, which is a 200-room lodging facility: Current ratio Acid-test ratio Accounts receivable Operating efficiency ratio Total current liabilities Accounts receivable turnover Labor costs 1.2 to 1 .7 to 1 $60,000 35 percent $100,000 12 times $500,000 Assume the following: The accounts receivable turnover is based on charge sales only, which represents 50 percent of total sales. The balances of all balance sheet accounts did not change from the beginning to the end of the year. During June, 4,500 rooms are sold. Assume three rooms are not available each day for legitimate business purposes; that is, they are not available for sale. What is the paid occupancy percentage?
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