Case Lone Pine Cafe

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Student: Zane Salaka
Case2 – Financial & Managerial Accounting
LONE PINE Cafe*(3-2)
Balance Sheet - Nov.2.,2009
Assets| | Liabilities|  |
LONG TERM|  | EQUITY|  |
Intangible investments|  | Share of capital|  |
1yr licence| 1428| Partnership contribution: 16000*3| 48000| Fixed assets|  | Long term creditors|  |
Equipment| 53200| Loan from local bank| 21000|
Cash register| 1400| Loans against debentures|  |
CURRENT ASSETS|  | | |
Inventories|  | | |
Food and beverages on hand| 2800| | |
Cash|  | | |
Deposit in checking account| 10172| | |
ALL ASSETS| 69000| ALL LIABILITIES| 69000|

Balance Sheet - March 30, 2010
Assets| March30,2010|
LONG TERM|  |
Intangible investments|  |
1yr licence| 833|
Fixed assets|  |
Equipment| 50755|
Cash register| 1400|
CURRENT ASSETS|  |
Inventories|  |
Food and beverages on hand| 2430|
Accounts recievable| 870|
Cash|  |
Cash in cash register| 311|
Deposit in checking account| 1030|
ALL ASSETS| 57629|
Liabilities| |
EQUITY|  |
Share of capital (3parts)| 37146|
Mrs.Antoine|  |
Mr.Antoine|  |
Mrs.Landers|  |
Long term creditors|  |
Suppliers owe| 1583|
Loan from local bank| 18900|
Loans against debentures|  |
ALL LIABILITIES| 57629|

1. Income Statement

Income Statement| |
Sales revenue:|  |
Cash recieved from customers| 43480|
Accounts recievable| 870|
Expenses:|  |
Monthly payments to partners| 23150|
Wages to part-time employees| 5480|
Food and beverages supply| 11969|
Telephone and electricity| 3270|
Miscellaneous| 255|
Rent payments| 7500|
Interest| 540|
Depreciation| 2445|
Licence decrease| 595|
Net income| -10854|
| |
2.Net income during operation period has been negative mostly because of monthly payments to partners, due to this reason most likely the business would be...
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