Test Bank For Accounting For Hospitality Managers With Answer Sheet Ahlei 5th Edition BY Raymond Cote

Test Bank For Accounting For Hospitality Managers With Answer Sheet Ahlei 5th Edition BY Raymond Cote

CHAPTER 01: HOTEL REVENUE ACCOUNTING
1 The sale of food to guests in the lounge is recorded to:
food sales.
bar sales.
concierge sales.
other income.
2 Commissions from outside guest laundry services are
shown on the:
rooms department statement.
other operating department statement.
schedule of rentals and other income.
marketing department statement.
3 If net sales are $1,000, food cost is $300, and labor
cost is $200, gross profit:
is $1,000.
is $700.
is $500.
cannot be determined from the given information.
4 If an invoice is dated March 26 with terms of 6/15,
n/30 EOM, the last day the discount can be taken is:
April 15.
May 15.
June 15.
June 30.
5 Using the gross method to record invoices, a May 29
invoice for supplies inventory of $500 with a 2%
discount in 10 days is:
recorded as accounts payable of $500.
recorded as accounts payable of $490.
not recorded until it is paid.
recorded as cash discounts earned of $10.
6 Using the net method to record invoices, a May 29
invoice for supplies inventory of $500 with a 2%
discount in 10 days is:
recorded as accounts payable of $500.
recorded as accounts payable of $490.
not recorded until it is paid.
recorded as cash discounts earned of $10.
7 Under the revenue treatment of recording discounts,
which procedure is used to record the discount on an
invoice for food purchases of $300 with a 2% discount?
The discount is recorded to a Cash Discounts Earned
account.
The discount is recorded as a reduction of food cost.
The discount is recorded as an increase to sales
revenue.
The discount is not recorded.
8 A registered guest is charging a meal at the hotel's
restaurant. The meal charge will be posted in the:
general ledger.
city ledger.
guest ledger.
daily rooms report.
9 An F&B customer who is not a registered guest is
charging a meal at the hotel's restaurant. The meal
charge will be posted in the:
general ledger.
city ledger.
guest ledger.
daily rooms report.
10 A registered guest is checking out and paying all
charges with a personal check. The payment is
recorded in the:
general ledger.
city ledger.
guest ledger.
daily rooms report.

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