Books of Thuuthuka Hotel - Accounting Assignment Help

Assignment Task

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                
Purchases                              R181,000 
Closing inventory                   R18,000                
Wages                                    R220,000                                    R179,000                
Direct expenses                     R172,000                                    R136,000                
Rates                                      R55,000            
Depreciation                           R89,000            
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.

Required:                         
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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