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 | ||||||||||||
- 8 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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