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  • Quick Lunch Case

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    Chleo Espera
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    Quick Lunch's income statement for September-December 2002 shows total sales of $31,790 and cost of sales of $14,415, resulting in a gross profit of $17,375. Expenses for the period were $7,480, giving net income of $9,895. The cash flow statement indicates $15,115 from operating activities and -$4,200 from investing activities, with a net increase in cash of $7,115. The balance sheet lists total assets of $25,325, including current assets of $13,165 and non-current assets of $12,160, with total liabilities of $3,780 and total equity of $21,545.

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    Quick Lunch's income statement for September-December 2002 shows total sales of $31,790 and cost of sales of $14,415, resulting in a gross profit of $17,375. Expenses for the period were $7,480, giving net income of $9,895. The cash flow statement indicates $15,115 from operating activities and -$4,200 from investing activities, with a net increase in cash of $7,115. The balance sheet lists total assets of $25,325, including current assets of $13,165 and non-current assets of $12,160, with total liabilities of $3,780 and total equity of $21,545.

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    © All Rights Reserved
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    480 views4 pages

    Quick Lunch Case

    Uploaded by

    Chleo Espera
    Quick Lunch's income statement for September-December 2002 shows total sales of $31,790 and cost of sales of $14,415, resulting in a gross profit of $17,375. Expenses for the period were $7,480, giving net income of $9,895. The cash flow statement indicates $15,115 from operating activities and -$4,200 from investing activities, with a net increase in cash of $7,115. The balance sheet lists total assets of $25,325, including current assets of $13,165 and non-current assets of $12,160, with total liabilities of $3,780 and total equity of $21,545.

    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 4

    QUICK LUNCH

    Income Statement
    For the period September - December 2002

    SALES
    Sales 29,315.00
    Coupons 2,475.00
    Total Sales 31,790.00

    COST OF SALES
    Meat Bill 890.00
    Food & Supplies for the Year 13,525.00
    14,415.00
    GROSS PROFIT 17,375.00

    Expenses
    City License for 4 months 75.00
    Rent from September-December 4,975.00
    Ammortization of Lease 1,900.00
    Depreciation of Cooking Range 440.00
    Other Operating Expenses 90.00 7,480.00
    Net Income 9,895.00
    QUICK LUNCH CASE STUDY

    In Partial Fulfillment
    of the Requirements for
    Masters in Business Administration

    Graduate School Office


    University of St. La Salle

    Submitted by:
    Chleo Dominique Espera

    Submitted to:
    Dr. Felix Cena, CPA

    February 03, 2020


    QUICK LUNCH
    Statement of Cash Flows
    For the period September - December 2002

    Operating Expenses

    Net Income 9,895.00


    Adjustments
    Depreciation 440.00
    Ammortization of Lease 1,900.00
    Increase in Inventory - 750.00
    Increase in License Fee - 150.00
    Increase in Deferred Revenue 1,375.00
    Increase in Accounts Payable 2,405.00 5,220.00
    Total Operating Activities 15,115.00

    Investing Activities

    Buying of Cooking Range - 4,600.00


    Sale of old Equipment 400.00
    Total Investing Activities - 4,200.00

    Financing Activities

    Withdrawals for personal use - 3,800.00

    Net increase in Cash 7,115.00


    Cash, beginning 01/01/2002 5,150.00
    Cash, ending 12/31/2002 12,265.00
    QUICK LUNCH
    Balance Sheet
    For the period September - December 2002

    Current Assets
    Cash 12,265.00
    Inventory 750.00
    Prepaid Expenses 150.00
    Total Current Assets 13,165.00

    Non-current Assets
    Cooking Range 8,800.00
    Less: Accumulated Depreciation - 440.00
    Net Realizable Value 8,360.00

    Unammortized Lease 3,800.00


    Total Non-current Assets 12,160.00

    Total Assets 25,325.00

    Liabilities & Equity


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

    Bingham, Capital 15,450.00


    Net Income 9,895.00
    Less: Bingham, Drawings - 3,800.00
    Total Equity 21,545.00

    Total Liabilities & Equity 25,325.00

    2. Mr. Bingham earned a higher income than what he was earning in his
    previous job. Quick Lunch also has a greater cash inflow than its outflow since
    it is a starting company, there are still no long-term debts which means the
    company is liquid enough to continue their operations.

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