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Balance Sheet

Balance Sheet0001

Balance sheet as an effective tool for proper hotel management and accounting

In proper hotel management and accounting, balance sheet is considered to play a crucial role especially with regards to forecasting potential sales and expenses and analysing past financial records. Balance sheet forms one of the necessary tools for the hotel accountant or finance controller. Besides such functions, balance sheet is also effective for filing income tax returns.

Apart from current assets, market securities and total dividends, these sheets are also instrumental in analysis the role of liabilities and stockholders’ equity in the shares of hotel. Balance Sheet also measures accumulated depreciations and other assets of the hotel in form of furniture and operating services.

Need to formulate balance sheet on a regular basis

Since such task has to be conducted on a regular basis, the hotel accountants require formulating such sheets on a monthly basis. Hence they usually resort to the popular online service platforms which offer effective Balance Sheet to the interested users. With such a tool readily available in printed forms, the users are provided with immense benefits and gets hours of hard work reduced to a matter of few seconds.

Detailed content of the hotel’s financial record

According to the content of the balance sheet that is provided by the online platforms, the details regarding the investments, hotel expenses and securities are stated in the sample sheet. Apart from stating all the above mentioned details and information on equity shares, the form also maintains separate financial strategies for better management of hotels.

This tool helps the accountant to a great extent as they can make the most out of such facilities and give their best when it comes to their accounting and financial task.

Balance Sheet

Balance Sheet

Balance Sheet

Balance Sheet

 

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Balance sheet.

Hotel _________
Balance Sheet _________, 19__
Assets

Current assets

Cash

House banks
                                                         $

First National Bank

$

Marketable securities

Receivables

Accounts receivable—transient
                                                        $

Accounts receivable—city

Total
                                                        $

Less allowance for doubtful accounts

Net accounts receivable
                                                        $

Notes receivable

Interest receivable

Dividends receivable

Total receivables

Inventories (Schedule A-1)

Prepaid expenses (Schedule A-2)

Total current assets

                                                                                                                             $
Investments (Schedule A-3)

Property and equipment

Land

$

Buildings
                                                        $

Less accumulated depreciation

Buildings, net

Furniture and equipment
                                                        $

Less accumulated depreciation

Furniture and equipment, net

Operating equipment and uniforms (Schedule A-4)

Total property and equipment

Other assets

Deferred expenses

$

Preopening expenses

Other

Total other assets

Total assets

                                                                                                                            $

                                                                                                                            _________

Liabilities and Stockholders’ Equity

Current liabilities

Notes payable

$

Accounts payable

Current maturities on long-term debt

Unearned income

Accrued expenses (Schedule A-5)

Other current liabilities (Schedule A-6)

Total current liabilities

                                                                                                                                  $
Long-term debt (Schedule A-7)

Total liabilities

                                                                                                                                  $
Stockholders’ equity

Contributed capital

Common stock, $_____ par                      $   

authorized _________

shares, issued _________

shares

Contributed capital in excess of par value, common stock

Total contributed capital

$

Retained earnings

Balance, _________, 19__
                                                        $

Add: Net income per Exhibit—

Total
                                                        $

Deduct: Dividends declared

Total
                                                        $

Adjustments

Balance, _________, 19__

Total stockholders’ equity

Total liabilities and stockholders’ equity

$

_________

Hotel _________
Balance Sheet Supporting Schedules
_________, 19__
A-1 Inventories

Food                                                             $
Beverages

Printing and stationery

Cleaning supplies

Guest supplies

Total inventories $

_________

A-2 Prepaid Expenses

Property taxes                                              $
Liability insurance

Insurance on building and contents

Advertising

Total prepaid expenses                                $

                                                                             _________

A-3 Investments

Stocks:

                                           $

Total stocks                                                                            $
Bonds:

                                           $

                        Total bonds

                               Total investments

$

_________

A-4 Operating Equipment and Uniforms (Net)

Rooms china and glassware                            $
Rooms linen

Food and beverage china and glassware

Food and beverage silverware

Food and beverage linen

Uniforms

Total operating equipment and uniforms  $

                                                                                                                     _________

A-5 Accrued Expenses

Salaries and wages                                                      $
Federal retirement tax

Federal unemployment tax

State unemployment tax

Federal income tax

Interest

Utilities

Total accrued expenses  $

                                                                                                 _________

A-6 Other Current Liabilities

Unclaimed wages                                                 $
Employees’ deposits

Federal Income Tax Withheld

Federal Retirement Tax Withheld

State Income Tax Withheld

Total Other Current Liabilities $

                                                                                                         _________

A-7 Long-Term Debt

$

Total long-term debt
$

_________

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