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  • Case Study - Lone Pine Cafe (A)

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    The document contains balance sheets for Lone Pine Café as of November 2, 2001 and March 30, 2002. As of November 2001, the café had $69,000 in total assets including $14,440 in current assets and $54,600 in café equipment. Total liabilities and owners' equity were $69,000, with $21,000 in a note payable and $48,000 in owners' equity split equally among the three owners. As of March 2002, the café had total assets of $57,629 including $5,474 in current assets and $52,155 in café equipment net of depreciation. Total liabilities were $20,483 including $1,583 in accounts pay

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    Loan Pine Cafe solution

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    Case Study- Lone Pine Cafe(a)

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    The document contains balance sheets for Lone Pine Café as of November 2, 2001 and March 30, 2002. As of November 2001, the café had $69,000 in total assets including $14,440 in current assets and $54,600 in café equipment. Total liabilities and owners' equity were $69,000, with $21,000 in a note payable and $48,000 in owners' equity split equally among the three owners. As of March 2002, the café had total assets of $57,629 including $5,474 in current assets and $52,155 in café equipment net of depreciation. Total liabilities were $20,483 including $1,583 in accounts pay

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as ppt, pdf, or txt
    2K views6 pages

    Case Study - Lone Pine Cafe (A)

    Uploaded by

    rdx216
    The document contains balance sheets for Lone Pine Café as of November 2, 2001 and March 30, 2002. As of November 2001, the café had $69,000 in total assets including $14,440 in current assets and $54,600 in café equipment. Total liabilities and owners' equity were $69,000, with $21,000 in a note payable and $48,000 in owners' equity split equally among the three owners. As of March 2002, the café had total assets of $57,629 including $5,474 in current assets and $52,155 in café equipment net of depreciation. Total liabilities were $20,483 including $1,583 in accounts pay

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as ppt, pdf, or txt
    of 6

    Accounting for Business Decision making

    Case Study: Lone Pine Caf(A)

    BALANCE SHEET AS OF NOVEMBER 2, 2001


    Assets
    Current assets: Cash Inventory Prepaid expense Tota1 current assets Cafe equipment Total assets

    $10,172 2,800 1,428 $14,440 54,600 $69,000

    BALANCE SHEET AS OF NOVEMBER 2, 2001


    Liabilities and Owners Equity
    Note payable Owners equity: Mrs. Landers $16,000 Mr. Antoine 16,000 Mrs. Antoine 16,000 Total liabilities and owners equity $21,000

    48,000 $69,000

    BALANCE SHEET AS OF MARCH 30, 2002


    Assets
    Current assets: Cash Accounts receivable Inventory Prepaid expense 833 Total current assets Noncurrent assets: Cafe equipment Less: Accumulated depreciation Total assets $1,341 870 2,430 $5,474 54,600 (2,445)

    52,155 $57,629

    BALANCE SHEET AS OF MARCH 30, 2002


    Liabilities and Owners Equity
    Current liabilities: Accounts payable Other liabilities: Note payable Total liabilities Owners equity: Mrs. Landers $12,382 Mr. Antoine 12,382 Mrs. Antoine 12,382 Total liabilities and owners equity $1,583 18,900 20,483

    37,146 $57,629

    Thank You

    Group #7

    Jewel Christy Jose Piyush Monga Prashant Singh Shiv Bhavan Swaraj Mallick Vikas Bhardwaj

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