The structure of the hotel industry

1- Describe the organizational chart of a 68-room, economy class hotel, franchised under a major chain’s logo, which has no food and beverageservice, not even breakfast.
2- Sketch the floor plan of the same hotel described abov

FORECASTING AVAILABILITY AND OVERBOOKING

A- On October 6, a 300-room property had occupancy of 70%. What is forecasted occupancy for October 7 if:
• 10 rooms are put out-of-order at 9am on October 6
• 150 rooms are on reservation
• Registration information indicates 101 rooms will depart today
• The hotel as an historical 6% cancellation rate
• The hotel as an historical 10% no-show rate

B- Assume that a 200-room hotel sold 50% of its rooms last night. Today, we anticipate that 75 rooms will depart. We hold60 6pm reservations and 90 guaranteed reservations. There are no advance deposits. What is the forecasted number of rooms available for sale
C- Assume that a given property has 300 rooms. After accounting for the day's departures and arrivals, 100 roomsremain unsold. Of these 100 rooms available, 50 rooms cannot be sold because they are out-of-inventory. In this case, theforecasted occupancy percentage would be

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this is not a marketing class its front office

The budget director for Campbell Cleaning Services prepared the following list of expected selling and administrative expenses. All expenses requiring cash payments are paid for in the month incurred except salary expense and insurance. Salary is paid in the month following the month in which it is incurred. The insurance premium for six months is paid on October 1. October is the first month of operations; accordingly, there are no beginning account balances.

Required

1. Complete the schedule of cash payments for S&A expenses by filling in the missing amounts.

2. Determine the amount of salaries payable the company will report on its pro forma balance sheet at the end of the fourth quarter.

3. Determine the amount of prepaid insurance the company will report on its pro forma balance sheet at the end of the fourth quarter.

World-renowned Toyota Motor Company has a worldwide presence, with Toyota’s investment in North America alone exceeding $12 billion in 10 manufacturing plants. Toyota is at the forefront of lean firms and a showcase of JIT. Executives from all over the world make the journey to Toyota to see how JIT works.

But early one Saturday morning in February, a fire roared through the huge Aisin Seiki plant in Kariya, Japan. The fire incinerated the main source of crucial brake valves that Toyota buys from Aisin and uses in most of its cars. Aisin has long been a supplier of the critical brake-fluid-proportioning valves (P-valves), supplying 99% of Toyota’s requirement for the valve. About 80% of Aisin’s total output goes to Toyota. As the smoke cleared, the extent of the disaster was clear—most of the 506 special machines used to manufacture the P-valves were useless. A few might be repaired in 2 weeks, but most would need to be replaced—and the lead time was 6 weeks. Both Aisin and Toyota had been operating at full capacity.

Consistent with JIT practices, Toyota maintained only a 4-hour supply of the valve. And there were few of the valves in the closely knit network that constituted Toyota’s supply chain. Depending on a single source and holding little inventory is a risk, but it also keeps Toyota lean and its costs low. The Toyota plants in Japan build 14,000 cars a day. Without that valve, production would come to a rapid halt. Moreover, Toyota production managers were dismayed to find they needed 200 variations of the P-valve.

Consistent with the keiretsu networks that are typical of Japan’s manufacturing sector, Toyota holds 23% of Aisin’s stock, and Aisin’s president is Kanshiro Toyoda of the Toyoda family that founded the automaker, Kosuke Ikebuchi, a Toyota senior managing director, was tracked down at 8 A.M. at a golf course clubhouse and given the bad news.

Discussion Questions

1. If you are Mr. Ikebuchi, what do you do?
2. What does this experience tell you (and Aisin and Toyota) about just-in-time?
3. If you had been in charge of DaimlerChrysler’s JIT supplies the morning of September 11, 2001,

what actions would you have taken?

Emily Corp

Beginning

Balances

1-Feb-09

Debit

Credit

Cash

10300

Accounts Receivable

6000

Allowance for doubtful accounts

60

Office Supplies

250

Inventory

1000

Prepaid Insurance

2000

Accounts Payable

3000

Interest Payable

50

Note Payable

10000

Stock

1000

Retained Earnings

5440

19550

19550

The beginning inventory consists of 100 units @ $10 each

The company uses the FIFO perpetual inventory assumption

The transactions for the month were:

Purchase a computer for the company (paid cash) $2700

Paid salary of $1200

Paid cash for utility expense $200

Paid cash for rent expense $1500

Received cash from customer for work done previously (accounts receivable) $5,000

Paid accounts payable amounts $3000

Purchased office supplies on account $200

Purchased inventory on account 300 units $3300

Cash sales were 250 units, $5000

Purchased inventory for cash 350 units $4200

Credit sales were 400 units $8000

Required:

Record the transaction (journal entries)

Post the transactions to the ledger (T accounts)

Prepare trial balance

Record adjusting journal entries for February 28:

The prepaid insurance was paid October 1st for 6 months

Supplies on hand at the end of the month are $225

The note payable was signed December 31st. It bears an interest rate of 6%. The note is due in 18 months.

Record depreciation, the computer has an estimated life of 3 years and no salvage value.

The company uses straight line method of depreciation

Assume the computer was purchased on the first day of the month

The company estimates that 1% of accounts receivable will not be collectable

Post the adjusting entries to the ledger (T accounts)

Prepare an adjusted trial balance

Prepare the February 28 financial statements:

Multi Step Income

Statement

Statement of retained earnings

Classified Balance Sheet

Question 1

Bach Distributors is a wholesaler of grocery items. As the accountant, you have been asked to develop the operating budgets. The budget must be prepared taking into consideration the following information:

Sales

1. Sales in units are:

   May (actual)       8,260

   June (actual)       8,470

   July           8,330

   August           7,980

   September       8,400

   October       8,540

2. Average selling price is $17 per unit.

3. Each month’s sales will be invoiced on the last day of that month.

4. All sales are on credit.

5. Accounts receivable pay 80% in the month following sale and are allowed a 2% discount;

   17% in the second month after sale; and,

   3% are uncollectible.

6. Bad debts are recognised in the month of sale.

Purchases

1. Management requires that each month’s units of ending inventory be equal to the following month’s unit sales

2. Average purchase price is $11 per unit.

3. All purchases are on credit.

4. As from July 1, accounts payable will be paid 55% in the month of purchase and receive a 3% discounts; and,

45% in the month after purchase.

Operating Expenses

1. Monthly variable expenses, paid in the month they are incurred, will be:

   Marketing                           7% of sales

   Administration                           6.5% of sales

   Financial (excluding bad debts and discount allowed)   1.5% of sales

2. Monthly fixed expenses will be:

   Marketing--depreciation on delivery vehicles           $800 per month

   Administration--depreciation on furniture and equipment   $350 per month

Additional Information

Commission of $1,200 will be received in August.

Required

For the three months ending September 30, prepare the following budgets, showing monthly details where appropriate. Calculations may be rounded to the nearest dollar.

(a)   Sales budget.

(b)   Purchases budget.

(c)    Cost of goods sold budget.

(d)   Marketing expenses budget.

(e)   Administration expenses budget.

(f)    Financial expenses budget.

(g)    Budgeted Income Statement, in summary format.

The cash account for Brentwood Bike Co. at May 1, 2016, indicated a balance of $34,250. During May, the total cash deposited was $140,300, and checks written totaled $138,880. The bank statement indicated a balance of $43,525 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items:

Chart of Accounts

Amount Descriptions

Bank Reconciliation

1. Prepare a bank reconciliation as of May 31. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. “Deduct:” or “Add:” will automatically appear if it is required. Whenever there is more than one adjusting item in the bank portion of the reconciliation or the general ledger portion of the bank reconciliation, enter in the order presented in the instructions.

Journal

2. Journalize the necessary entries. The accounts have not been closed. Refer to the Chart of Accounts for exact wording of account titles.

PAGE 1

JOURNAL

Final Question

3. If a balance sheet were prepared for Brentwood Bike Co. on May 31, 2016, what amount should be reported as cash?

Explain the relationship between CO/CI, SVR and its effect on kidney perfusion, specifically addressing the RAAS system.

What does the term co-integration mean? And what are it’s useage and applications in the study of time series analysis