Lone Pine Caf Units are in Dollars

Assets
Current assets: Checking Account Total current assets Fixed assets: Equipment Inventory (food and beverages) --> Current Operating licenses Cash Register Total fixed assets Beginning 10,172.00 10,172.00 Beginning 53,200.00 2,800.00 1,428.00 1,400.00 58,828.00

Balance Sheet

End End

Total assets
Liabilities and owner's equity
Current liabilities: Rent Payable (assume no back rent) Total current liabilities Long-term liabilities: Bank Loan Total long-term liabilities Owner's equity: Paid in capital Total owner's equity

69,000.00

Current

End

Current 21,000.00 21,000.00 Current 48,000.00 48,000.00 End

End

Total liabilities and owner's equity

69,000.00

Balance

Baron Coburg Units are in Dollars

Assets
Current assets: Checking Account Ski Receivable Total current assets Fixed assets: Equipment Inventory (food and beverages) Operating licenses Total fixed assets Beginning 1,030.00 870.00 1,900.00 Beginning 50,755.00 2,430.00 1,428.00 54,613.00

Balance Sheet

End End

Total assets
Liabilities and owner's equity
Current liabilities: Suppliers Payable Total current liabilities Long-term liabilities: Bank loan Total long-term liabilities Owner's equity: Retained Earnings Total owner's equity

56,513.00

Current 1,583.00 1,583.00 Current 18,900.00 18,900.00 Current 36,030.00 36,030.00

End

End End

Total liabilities and owner's equity

56,513.00

Balance
YES because once the loan is paid off they receive the following amount: 5,710.00

16000 contributed by 3 people 1 yr lease 1500 monthly rent They all lived their in the business 21000 borrowed from the bank 35000 partnership funds 53200 equipment 2800 food and bev 1428 local licenses 1400 new cash register 69000 remainder deposited in bank account cash register and contents were missing no other assets missing 311 1030 870 1583 2445 2430 750 2100 left in cash register checking account balance ski instructors running up charges owed to suppliers depreciation of assets worth of food and beverages clothing left behind repaid bank loan

subsequently paid in full

Sales Rev 243 Less Cost of sales 30 Gross Margin 213 Less Operating expenses7 depreciation + broken plow Income before taxes 206 Provision for income taxes 30 Net Income 176

Baron said 1 acre is 5 buchels

Therefore Ivan should have produced at least And frederick should have produced at least

100 50

223 105

2.23 2.1 IVAN DID BETTER. Better yield on the land

TER. Better yield on the land