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)