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!!