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    Lone Pine Cafe Solution

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    Ritu Chhipa
    The Lone Pine Café opened on November 1, 2005 and summarized its financial position for the first month of operations. It had $69,000 in starting capital from the three owners and a bank loan. For the period of November 2 to March 30, 2006, the café had $43,480 in sales but $55,204 in expenses, resulting in a $10,854 loss to be split among the three owners.

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    Lone Pine Cafe Solution

    Uploaded by

    Ritu Chhipa
    184 views5 pages
    The Lone Pine Café opened on November 1, 2005 and summarized its financial position for the first month of operations. It had $69,000 in starting capital from the three owners and a bank loan. For the period of November 2 to March 30, 2006, the café had $43,480 in sales but $55,204 in expenses, resulting in a $10,854 loss to be split among the three owners.

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    Lone Pine Cafe solution

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    Lone Pine Cafe solution

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    The Lone Pine Café opened on November 1, 2005 and summarized its financial position for the first month of operations. It had $69,000 in starting capital from the three owners and a bank loan. For the period of November 2 to March 30, 2006, the café had $43,480 in sales but $55,204 in expenses, resulting in a $10,854 loss to be split among the three owners.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    184 views5 pages

    Lone Pine Cafe Solution

    Uploaded by

    Ritu Chhipa
    The Lone Pine Café opened on November 1, 2005 and summarized its financial position for the first month of operations. It had $69,000 in starting capital from the three owners and a bank loan. For the period of November 2 to March 30, 2006, the café had $43,480 in sales but $55,204 in expenses, resulting in a $10,854 loss to be split among the three owners.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 5

    Lone Pine Café Facts

    Nov 1 2005 Classify


    Mr Henry Antoine 16000
    Mrs Antoine 16000
    Mrs. Sandra Landers 16000
    Profit share agreed 30% each
    Signed 1 year lease for café wit 1500
    Borrowed from local bank 21000
    Buyout of previous operator
    Equipment 53200
    Food & Beverages 2800
    Local License for 1 year 1428
    New Cash register 1400
    Remainder into checking
    account 69000

    After Nov 2
    Cash Register 311
    Checking Account 1030
    Ski Instructor accounts 870
    Owed Suppliers 1583
    Depreciation 2445
    Food and Beverages 2430
    Mr Antoine clothing 750
    Loan repay 2100
    Partners salaries Uptodate

    Lone Pine Café B

    Cash Received from Customers 43480


    Cash Payments
    Monthly payments to partners
    (one-third to each) 23150
    Wages to part time employees 5480
    Interest 540
    Food and beverage suppliers 10016
    Telephone and electricity 3270
    Miscellaneous 255
    Rent payments 7500
    Lone Pine Café
    Balance Sheet as on 2 Nov 2005

    Liabilities and owners equity

    Partners Capital
    Mr Henry Antoine 16000
    Mrs Antoine 16000
    Mrs. Sandra Landers 16000 48000

    Liabilities (Non-current) 21000

    Total 69000

    Assets
    Current Assets
    Local License (prepaid) 1428
    Food & Beverages 2800
    Bank Balance 10172 14400

    Non Current Assets


    Equipment 53200
    Cash Register 1400 54600

    Total 69000
    Lone Pine Café Lone Pine Café
    Balance Sheet as on 2 Nov 2005 Balance Sheet as on 30 Mar 2006

    Liabilities and owners equity Liabilities and owners equity

    Partners Capital Partners Capital


    Mr Henry A 16000 Mr Henry Antoine
    Mrs Antoin 16000 Mrs Antoine
    Mrs. Sandr 16000 48000 Mrs. Sandra Landers

    Liabilities (Non-curre 21000 Liabilities (Non-current)


    Current liabilities
    Total 69000
    Accounts payable
    Assets Total
    Current Assets
    Local Licen 1428 Assets
    Food & Bev 2800 Current Assets
    Bank Balan 10172 14400 Local License (prepaid)
    Instructors food
    Food & Beverages
    Non Current Assets Cash register
    Equipment 53200 Bank Balance
    Cash Regis 1400 54600
    Non Current Assets
    Total 69000 All Equipment
    Less: Depreciation

    Total
    Months operated 5
    Local License 833

    595
    12382
    12382
    12382 37146 Total Loss 10854

    Per partner loss 3618


    18900

    1583
    57629

    833
    870
    2430
    311
    1030 5474

    54600
    2445 52155

    57629
    Lone Pine Cafeé (B)
    Income Statement for the period 2-Nov-2009 to
    30-Mar-2010
    Sales $ 44,350
    Expenses:
    Salaries to partners $23150
    Part‑time employee wages 5,480

    Food and beverage supplies 11,969


    Telephone and electricity 3,270
    Rent expense 7,500
    Depreciation 2,445
    Operating license expense 595
    Interest 540
    Miscellaneous expenses 255
    Total expenses 55,204
    (Loss) $(10,854)

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