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You have just completed your first year (1/1/2019 - 23/31/2019) as the owner of the ABC Hotel, a 100 room economy property Your first year
You have just completed your first year (1/1/2019 - 23/31/2019) as the owner of the ABC Hotel, a 100 room economy property Your first year total revenue was $1,000,000, and your total expenses were $800,000. Net Income was $200,000 before taxes, a very successful first year! At the beginning of the year (1/1/19) the Accounts Receivable and Accounts Payable balances were $0 (since the ABC opened on 1/1/19). At the end the year (12/31/19), the Accounts Receivable balance was $200,000, and the Accounts Payable balance was $100,000. . How much of the $800,000 was paid in 2019? . Of the $200,000 in Net Income, how much was Net Cash? D Question 1 2 pts How much of the $1,000,000 Total Revenue was collected in 2019? O $1,000,000 O $800,000 $1.200,000 None of the above D Question 2 2 pts How much of the $800,000 Total Expenses was paid in 2019? S800,000 $900,000 $700,000 None of the above Question 3 2 pts Of the $200,000 in Net Income, how much was Net Cash? @ $200,000 @ $300,000 $100.000 None of the above
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