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  • Case Study Lone Pine Cafe

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    Rahul Tiwari
    136 views6 pages
    1) The balance sheet shows the assets, liabilities, and capital of Lone Pine Cafe as of November 2, 2009, with total assets of $69,000. 2) The income statement covers the period from November 2, 2009 to March 30, 2010 and shows net sales of $44,350, costs of $43,235, and a net loss of $10,854. 3) The document includes notes on depreciation calculations and conventions used in preparing the financial statements.

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    1) The balance sheet shows the assets, liabilities, and capital of Lone Pine Cafe as of November 2, 2009, with total assets of $69,000. 2) The income statement covers the period from November 2, 2009 to March 30, 2010 and shows net sales of $44,350, costs of $43,235, and a net loss of $10,854. 3) The document includes notes on depreciation calculations and conventions used in preparing the financial statements.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    136 views6 pages

    Case Study Lone Pine Cafe

    Uploaded by

    Rahul Tiwari
    1) The balance sheet shows the assets, liabilities, and capital of Lone Pine Cafe as of November 2, 2009, with total assets of $69,000. 2) The income statement covers the period from November 2, 2009 to March 30, 2010 and shows net sales of $44,350, costs of $43,235, and a net loss of $10,854. 3) The document includes notes on depreciation calculations and conventions used in preparing the financial statements.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 6

    bank 10172 Bank Loan 21000 Mr.

    Antoine 16000
    0 Mrs. Antoine 16000
    Fixed Assets Mrs. Landers 16000
    Equipment 53200
    Cash Register 1400
    Inventory 2800
    license 1428
    69000 21000 48000
    Asset 69000 69000
    Assets Liability Capital
    Liability+ Capital
    Balance sheet as on Nov 2, 2009
    Cash 870 Bank Loan 18900 Mrs. Antoine 11811.67
    Bank 1341 suppliers 1583 Contribution from
    other two partners
    570.33
    Fixed Assets Mrs. Antione's share 12382
    Equipment 53200 Mr. Antoine 12382
    Less Depriciation 2445 Less Withdrawal 855.5
    50755 Mr.Antoine share 11526.5
    Inventory 2430 Mrs. Landers 12382
    license 833 Less Withdrawal 855.5 1428
    Cash Register 1400 Mrs.Landers Share 11526.5 595
    57629 20483 37146 69000
    11371
    9788
    38212
    Sales 44350
    Sales cost 11969
    Gross margin 32381
    Expenses
    Salary A/c 23150
    Wages Part time 5480
    Telephone and
    Electricity
    3270
    Misc. 255
    Rent 7500
    Bank Loan
    repayment
    2100
    41755
    Retained earnings 2430
    Assets Liability Capital
    Conventions
    1 Depriciation for Cash Register not
    considered
    2 Bank Interest not calculated
    3 Depriciation for License
    considered with respect to
    approval for a year
    Revenue Expenses
    Net Sales
    Sales 43480 Salary A/c 23150
    Cost of Sales
    Sales
    recievable
    870 Wages Part time 5480
    Gross Margin
    Telephone and Electricity 3270
    Expenses
    Misc. 255
    Net Income
    Rent 7500
    Depreciation 2445
    Licence depriciation 595
    Interest 540
    44350 43235
    Net Sales 44350
    Cost of sales 11969
    Gross Margin 32381
    Expenses 43235
    Net Income -10854
    Income Statement
    Lone Pine Caf
    For the period Nov 2,2009 to Mar 30,2010
    Lone Pine Caf
    For the period Nov 2,2009 to Mar 30,2010
    Income Statement
    44350
    11969
    32381
    43235
    -10854
    Lone Pine Caf
    For the period Nov 2,2009 to Mar 30,2010
    Income Statement

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