stephh1
Sep 7, 2008, 08:28 PM
I just started my introduction to accounting class in university and I am a little stuck on this question because we didn't really go over this is class...please help!!
Here is the information given: Sea Surf Campground is a public camping ground in Ocean National Park. It has the following financial information as at December 31, 2006:
Revenues--camping fees: 137 000
Revenues--general store: 25 000
Accounts Payable: 11 000
Cash: 10 500
Equipment: 119 000
Income Tax Expense: 7000
Dividends: 4000
Notes Payable: 50 000
Operating Expenses: 138 000
Supplies: 2500
Common Shares: 40 000
Retained Earnings (January 1, 2006): 18 000
I think that the revenues are the camping fees and general store
My Expenses are equipment, operating expenses and supplies....I am not sure if these are correct or if there should be other expenses on here
Thank you SOOO much in advance for your help!!
Here is the information given: Sea Surf Campground is a public camping ground in Ocean National Park. It has the following financial information as at December 31, 2006:
Revenues--camping fees: 137 000
Revenues--general store: 25 000
Accounts Payable: 11 000
Cash: 10 500
Equipment: 119 000
Income Tax Expense: 7000
Dividends: 4000
Notes Payable: 50 000
Operating Expenses: 138 000
Supplies: 2500
Common Shares: 40 000
Retained Earnings (January 1, 2006): 18 000
I think that the revenues are the camping fees and general store
My Expenses are equipment, operating expenses and supplies....I am not sure if these are correct or if there should be other expenses on here
Thank you SOOO much in advance for your help!!