Lone Pine Cafe

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Henry Antoine, Capital $16,000 Mrs. Antoine, Capital $16,000 Mrs. Sandra Landers, Capital $16,000 Total shareholders’ equity $48,000 Total Liabilities and Shareholders’ equity $69,000 Lone Pine Cafe Balance Sheet As of March 30, 2006 Assets Current assets: Cash (account + register) $1,341 Inventory $2,430 Total current assets $3,771 Other assets: Accounts Receivable $870 Equipment? $54,600 Less depreciation ($2,445) Prepaid expenses ($1,428/12 mo...
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Henry Antoine, Capital $16,000 Mrs. Antoine, Capital $16,000 Mrs. Sandra Landers, Capital $16,000 Total shareholders’ equity $48,000 Total Liabilities and Shareholders’ equity $69,000 Lone Pine Cafe Balance Sheet As of March 30, 2006 Assets Current assets: Cash (account + register) $1,341 Inventory $2,430 Total current assets $3,771 Other assets: Accounts Receivable $870 Equipment? $54,600 Less depreciation ($2,445) Prepaid expenses ($1,428/12 mo...
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Business and The role of Accounting 1. D.C Dawg contributes $6,000 to start a business (Asset) 2. Borrows $2,000 on March 1st. 1 yr note. 12%interest, to be repaid on Feb. 28 of following year...	2 / 476
Case Study On Leighton Holding Accounting and Finance 13. Cash flow from operations can be positive even if net income is negative. For example, if depreciation expenses are large, then negative net income might correspond to positive cash flow because depreciation is treated as an expense in calculating net income, but does not represent a cash outflow...	2 / 460
D. C. Dawg Transactions D. C. Dawg opened its doors as a business in March. The following are a list of cash transactions that occurred during that month. Each of these transactions has an effect on the accounting equation...	2 / 553
Financial Accounting FINACC, Tuesday, 7:50 – 9:30pm 2-1.A. Given: A=$95,000; L=$40,000 OE = 95,000 - $40,000 OE = $55,000 2-1 B. Given: A = $65,000; OE = $40,000 L = $65,000 - $40,000 L = $25,000 2-1 C...	7 / 1727
Hay and Barnabas Company: Adjustments and Classifications Adjustments are necessary before preparation of financial statements. There are five that need to be completed for Hay and Barnabas. Each adjustment has an effect on the accounting equation...	3 / 574
Lone Pine Cafe The Lone Pine Cafe case involves a partnership of three people who initially invested $16,000 cash each in the venture. The first transaction resulted in a one year lease being signed for $1,500 per month or $18,000 per annum...	3 / 707
Music Mart Case 2-2 BALANCE SHEET AS OF ______ Assets Liabilities and Owners’ Equity Current assets: Current liabilities: Cash $25,636 Notes payable $ 6,500 Accounts receivable 2,620 Accounts payable 5,000 Inventory 4,700 Total current liabilities 11,500 Prepaid insurance 1,224 Total current assets 34,180 Other liabilities: Mortgage payable 9,000 Total liabilities 20,500 Owners’ equity Property: Paid in capital 25,000 Land 12,000 Retained earnings 680 Total assets $46,180 Total liabilities and owners’ equity $46,180 Answers to Questions: 1...	2 / 485