Create an account leger outline for a new restaurant.

Solutions

Expert Solution

Revenues for the Chart of Accounts

Beverage Sales
Food Sales
Other Sales, e.g., Offsite Catering, Speaking Engagements

Expenses to Track

Cost of Beverage Sales
Cost of Food Sales
Any discounts that are given that even marginally affect bottom-line

Occupancy Expenses to List

Rent Expense
Insurance on Building
Security/Alarm Services
Janitorial
Building Repair and Maintenance (the costs of any routine repairs and maintenance are recorded in this account
Except for repairs and maintenance expenses that can be capitalized to the fixed asset account because they extend the useful life of the asset
Property Taxes
Utilities
Disposal Services

Labor Expenses - Management

Officer Wages - Officer Salaries and Wages
Officer Benefits: Health Insurance
Officer Benefits: Meals and Discounts
Officer Benefits: Other
Management Wages - Management Salaries and Wages
Management Benefits: Health Insurance
Management Benefits: Meals and Discounts
Management Benefits: Other

Labor Expenses - General Employee

Employee Wages: Front of the House: Bartender
Employee Wages: Front of the House: Bussers
Employee Wages: Front of the House: Host/Hostess
Employee Wages: Front of the House: Servers
Employee Wages: Back of the House: Cooks
Employee Wages: Back of the House: Dishwashers
Employee Benefits: Health Insurance
Employee Benefits: Meals and Discounts
Employee Benefits: Other (employee benefits that do not fall into any other category are recorded in this account)

Other Operating Expenses

Bad Debt
Cash Over/Short
Credit Card Fees
Liability Insurance
Licenses and Permits
Corporate Taxes
Equipment Repairs and Maintenance
Equipment Lease
Glassware, Flatware, and Smallware
Marketing Expenses
Linens, Laundry, and Uniforms
Restaurant Décor
Menus and Drink Lists
Payroll Services Fees
Miscellaneous Expenses
Accounting Fees
Legal Fees
Tax Preparation Fees
Music and Entertainment
Telephone
Internet
Travel
Office Supplies
Bank Fees
Fines and Penalties
Postage and Mailing
Interest Expense
Depreciation Expense

jeff jeffy answered 1 year ago

Next > < Previous

Related Solutions

Create an account ledger outline and plan that has an emphasis on the interpretation of accounting...

Create an account ledger outline and plan that has an emphasis on the interpretation of accounting information and the language of financial accounting to participate effectively in activities such as planning, investing, controlling, and managerial decision-making.

Create an account ledger outline and plan that has an emphasis on the interpretation of accounting...

Create a new class called Account with a main method that contains the following: • A...

Create a new class called Account with a main method that contains the following: • A static variable called numAccounts, initialized to 0. • A constructor method that will add 1 to the numAccounts variable each time a new Account object is created. • A static method called getNumAccounts(). It should return numAccounts. Test the functionality in the main method of Account by creating a few Account objects, then print out the number of accounts

(In C++) Bank Account Program Create an Account Class Create a Menu Class Create a main()...

(In C++) Bank Account Program Create an Account Class Create a Menu Class Create a main() function to coordinate the execution of the program. We will need methods: Method for Depositing values into the account. What type of method will it be? Method for Withdrawing values from the account. What type of method will it be? Method to output the balance of the account. What type of method will it be? Method that will output all deposits made to the...

Task Create an outline (plan to write your message – sample outline provided below) and an...

Task Create an outline (plan to write your message – sample outline provided below) and an email message based on case details identified below. Situation You work as an assistant office manager for Diamond Clear, a family-run window installation company and a scheduling issue has arisen in the office. You are writing on behalf of Lucia to her brother Scott regarding the situation (includes the problem) and your request (main idea). In your email message you will inform Scott that...

Create an outline of your project (1 page). The outline should only contain topic headings and...

Create an outline of your project (1 page). The outline should only contain topic headings and a brief description of what it will cover. See the link below for an APA formatted outline. Remember that your outline will be a guide as you write your paper to keep you on topic and organized. Required paragraph topics include but are not limited to: the role nutrition plays in the prevention of the disease, etiology, progression, treatment, recommended diets, nursing assessment, nursing...

Create a new SQL table in your phpMyAdmin account that collects the following fields (columns) - (10...

Create a new SQL table in your phpMyAdmin account that collects the following fields (columns) - 1) The name of a medicine, sanitizer, or tip/trick for protecting yourself against transmission or fight the disease - STRING 2) The amount of money the item costs - NUMBER 3) The UPC code of the item - NUMBER 4) Manufacturing country of the item - STRING Connect to the SQL database with your HTML code, and make sure to show the results of...

Explain the terms leading and lagging and outline the factors that must be taken into account...

Explain the terms leading and lagging and outline the factors that must be taken into account before this approach is used.

How would you create a outline for a podcast with this info: Monsanto and ConEd are...

How would you create a outline for a podcast with this info: Monsanto and ConEd are examples of monopolist companies and indicate the role of monopolies in the modern economy. Monsanto shows the dangers of allowing a company to operate with complete control over the price of its products. natural monopoly. costs are minimized by having a single supplier Ex: Sempra Energy Utility. geographic monopoly. small town, because of its location no other business offers competition Ex: Girdwood gas station....

Create a newsletter outline. What is the topic? Who is your targeted audience?

Subjects