ACC201 Final Project Current year: Current year: Sales 540,000 Operating expenses 229,000 Inventory purchases 162,000 Cash 33,000 Sales and marketing expenses 49,000 Prepaid e
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| ACC201 | ||||||||||||
| Final Project | ||||||||||||
| Current year: | Current year: | |||||||||||
| Sales | 540,000 | Operating expenses | 229,000 | |||||||||
| Inventory purchases | 162,000 | Cash | 33,000 | |||||||||
| Sales and marketing expenses | 49,000 | Prepaid expenses | 9,000 | |||||||||
| Accounts receivable | 23,000 | Note payable - current | 10,000 | |||||||||
| Accumulated depreciation | 23,000 | Administrative expenses | 60,000 | |||||||||
| Accrued expenses | 5,000 | Common stock | 50,000 | |||||||||
| Interest expense | 5,000 | Equipment | 108,000 | |||||||||
| Inventory - current year | 25,000 | Accounts payable | 13,000 | |||||||||
| Dividends | none | Long-term note payable | 45,000 | |||||||||
| Shares outstanding | 50,000 | Supplies | 11,000 | |||||||||
| Prior year: | ||||||||||||
| Accounts receivable | 18,000 | |||||||||||
| Inventory | 23,000 | Beginning inventory | ||||||||||
| Total assets | 174,000 | |||||||||||
| Common stock | 50,000 | Goods available | ||||||||||
| Retained earnings | 26,000 | |||||||||||
| Shares outstanding | 50,000 | Cost of goods sold | ||||||||||
| The Coffee Hut | The Coffee Hut | |||||||||||
| Balance Sheet | Income Statement | |||||||||||
| Current | Current | |||||||||||
| Current assets: | Revenue: | Ratio | Analysis | |||||||||
| Current ratio | ||||||||||||
| Quick ratio | ||||||||||||
| Gross profit | Accounts receivable turnover | |||||||||||
| Inventory turnover | ||||||||||||
| Expenses: | Debt to assets | |||||||||||
| Total current assets | Debt to equity | |||||||||||
| Property, plant and equipment: | Return on sales | |||||||||||
| Asset turnover | ||||||||||||
| Total expenses | Return on investment | |||||||||||
| Net equipment | Operating income | Return on equity | ||||||||||
| Other expenses: | Earnings per share | |||||||||||
| Total assets | ||||||||||||
| Net income | ||||||||||||
| Current liabilities: | ||||||||||||
| If cost of goods sold is the only variable cost, and the contribution margin | ||||||||||||
| per drink was $3.40, how many coffee drinks were sold during the year, | ||||||||||||
| and what was the average selling price per drink? | ||||||||||||
| Total current liabilities | ||||||||||||
| Long-term liabilities: | Number of drinks sold | |||||||||||
| Average selling price | ||||||||||||
| Total liabilities | ||||||||||||
| Stockholders' equity: | ||||||||||||
| Total stockholders' equity | ||||||||||||
10 years ago
ACC201 Final Project Current year: Current year: Sales 540,000 Operating expenses 229,000 Inventory purchases 162,000 Cash 33,000 Sales and marketing expenses 49,000 Prepaid e
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