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    Quick Lunch 2

    Uploaded by

    Ceclie Delfino
    The Quick Lunch statement of income for the period ended December 31, 2015 shows total revenue of $31,790 with cost of sales of $14,415, resulting in a gross profit of $17,375. Expenses were $7,480, giving an income from operations of $9,895. The net income for the period was also $9,895.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Quick Lunch 2

    Uploaded by

    Ceclie Delfino
    91 views5 pages
    The Quick Lunch statement of income for the period ended December 31, 2015 shows total revenue of $31,790 with cost of sales of $14,415, resulting in a gross profit of $17,375. Expenses were $7,480, giving an income from operations of $9,895. The net income for the period was also $9,895.

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    quick-lunch-2 (3)

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    The Quick Lunch statement of income for the period ended December 31, 2015 shows total revenue of $31,790 with cost of sales of $14,415, resulting in a gross profit of $17,375. Expenses were $7,480, giving an income from operations of $9,895. The net income for the period was also $9,895.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    91 views5 pages

    Quick Lunch 2

    Uploaded by

    Ceclie Delfino
    The Quick Lunch statement of income for the period ended December 31, 2015 shows total revenue of $31,790 with cost of sales of $14,415, resulting in a gross profit of $17,375. Expenses were $7,480, giving an income from operations of $9,895. The net income for the period was also $9,895.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 5

    QUICK LUNCH

    STATEMENT OF INCOME
    For the Period Ended December 31, 2015

    Revenue:
    Sales 29,315.00
    Coupons 2,475.00
    Total Revenue 31,790.00

    Cost of Sales
    Meat Bill 890.00
    Food & Supplies 13,525.00
    14,415.00

    14,415.00
    Gross Profit 17,375.00
    Expenses:
    Rental Expense 4,975.00
    Taxes & Licences 75.00
    Other operating expenses 90.00
    Amortization 1,900.00
    Depreciation 440.00
    7,480.00
    Income from Operation 9,895.00

    Net Income 9,895.00


    Notes

    33,165 - 3850
    [(1500/30)*27.50]-3850

    Given
    14275-750

    3460+1515
    225/12*4
    given
    (10300-4600)/12*4
    Submitted by: Elan Jane Esteban
    QUICK LUNCH
    BALANCE SHEET
    AS OF DECEMBER 31, 2002

    ASSETS

    Current Assets

    Cash 12,265.00
    Inventory 750.00
    Prepaid Licenses 150.00

    Total Current Assets 13,165.00

    Property, Plant & Equipment


    Cooking Range 8,800.00
    Less: Accumulated Depreciation (440.00)
    Net Book Value 8,360.00

    Intangibles
    Leasehold 3,800.00

    Total Assets 25,325.00

    LIABILITY AND CAPITAL

    Current Liability
    Accounts Payable 2,405.00
    Deferred Revenue 1,375.00
    Total Liabilities 3,780.00

    Capital
    Bingham Capital, Beginning 15,450.00
    Add: Net Income 9,895.00
    Less: Bingham, Drawings (3,800.00)
    Bingham Capital, Ending 21,545.00

    Total Liability and Capital 25,325.00


    Submitted by: Elan Jane Esteban
    -
    QUICK LUNCH
    STATEMENT OF CASH FLOWS
    For the Period Ended December 31, 2015

    OPERATING ACTIVITIES
    Net Income 9,895.00
    Depreciation-Equipment 440.00
    Amortization of lease 1,900.00
    Increase in Inventory (750.00)
    Increase in Prepaid Taxes (150.00)
    Increase in Accounts Payable 2,405.00
    Increase in Deferred Revenue 1,375.00

    Cash Flow From Operating Activities 15,115.00

    INVESTING ACTIVITIES
    Proceeds from Sale of Equipment 400.00
    Purchase of New Equipment (4,600.00)

    CASH FLOW FROM INVESTING ACTIVITIES (4,200.00)

    FINANCING ACTIVITIES:
    Binghams Withdrawal (3,800.00)

    CASH FLOW FROM FINANCING ACTIVITIES (3,800.00)

    INCREASE/(DECREASE) IN CASH 7,115.00


    Cash Beg. Balance 5,150.00
    Cash -Ending Balance 12,265.00

    12,265.00
    -

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