The following information was extracted from the books of Thuuthuka Hotel on 30 June 2021.
Rooms department Food & Beverages department General
Sales R620,000 R530,000
Rent income R10,000
Miscellaneous income R39,000
Other sales R24,000
Opening stock R25,000
Closing inventory R18,000
Wages R220,000 R179,000
Direct expenses R172,000 R136,000
Heat, light & power R12,000
Administration expenses R85,000
Floor area 8 000m2 2 000m2
Depreciation and administration costs are apportioned to income generating departments using sales generated whilst rates and heat, light & power are apportioned according to floor area.
1. Prepare trading, profit and loss statement for the year ended 30 June 2021 using the gross profit method
2. Prepare trading, profit and loss statement for the year ended 30 June 2021 using the departmental profit method
3. Prepare trading, profit and loss statement for the year ended 3o June 2021 using the net profit method
4. Comment on the performance of each department
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