Blossom Lakes Park is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial information as of December 31, 2022. Service revenue (from camping $155,200 Dividends $13,140 fees) Sales revenue (from general store) $38,800 Notes payable $73,000 Accounts payable $16,060 Expenses during 2022 $148,740 Cash $12,410 Supplies $8,030 Equipment $166,440 Common stock $58,400 Retained (1/1/2022) earnings $7,300 Determine Blossom Lakes Park's net income for 2022.
Blossom Lakes Park is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial information as of December 31, 2022. Service revenue (from camping $155,200 Dividends $13,140 fees) Sales revenue (from general store) $38,800 Notes payable $73,000 Accounts payable $16,060 Expenses during 2022 $148,740 Cash $12,410 Supplies $8,030 Equipment $166,440 Common stock $58,400 Retained (1/1/2022) earnings $7,300 Determine Blossom Lakes Park's net income for 2022.
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 46P: Blue Company, an architectural firm, has a bookkeeper who maintains a cash receipts and...
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Transcribed Image Text:Blossom Lakes Park is a private camping ground near the Mount Miguel Recreation Area.
It has compiled the following financial information as of December 31, 2022.
Service revenue (from camping
$155,200 Dividends
$13,140
fees)
Sales revenue (from general store) $38,800 Notes payable
$73,000
Accounts payable
$16,060 Expenses during 2022
$148,740
Cash
$12,410 Supplies
$8,030
Equipment
$166,440 Common stock
$58,400
Retained
(1/1/2022)
earnings
$7,300
Determine Blossom Lakes Park's net income for 2022.
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