Define a merchandising business Prepare and record inventory journal entries using both perpetual and periodic inventory systems Prepare a multi-step income statement Describe the purposes and benefits of the Uniform System of Accounts for the Lodging Industry and Summary Operating Statement Analyze hospitality business performance using industry specific ratios and operating metrics
Chapter 8:
Explain the shareholders’ equity section of a corporation’s balance sheet Analyze cash flow using the three major sources and uses of cash Calculate gross and net pay and employer and employee contributions and payments
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