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of 5 SOLUTION FOR LONE PINE CAFE CASE: A)Each of the partners contributed $16000 cash to the partnership and agreed to share in their profits proportionally to what they had invested …


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CASE 3-2 (Answer of Q1)LONE PINE CAF (B)* 1. Salary to Partners are booked directly as expense, and will hit the Income Statement. CASE 3-2 (Answer of Q1)LONE PINE CAF (B)* LONE PINE CAF INCOME STATEMENTFor …


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Case 2-3 Lone Pine Cafe (A)* Karamoy, Claudya Loria, Karla Uy, Casandra Alexis Allan Quijano ENT603M 1. Prepare a balance sheet for the Lone Pine Cafe as of November 2, …


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Unformatted text preview: LONE PINE CAFÉ CASE STUDY-SUMMARY Lone pine café (A) Balance sheet as of November 2,2005 Assets Current assets: Cash Inventory Prepaid expenses Total …


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The Lone Pine Caf owed suppliers amounts totaling $1,583. Mr. Simpson estimated that depreciation on the assets amounted to $2,445. Food and beverages on hand …


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