Exercises 1. The following information is from Bluff Run Golf Courses. The company runs three courses and the July income statement for each course is shown. BLUFF RUN GOLF COURSES Income Statement Month Ending July 31, 2018 Revenues Blue Course Black Course Gold Course $ 42,800 28,000 $ 70,800 Greens fees revenue $62,500 $89,000 Outings revenue Total revenue 6,000 $73,500 $95,000 Expenses Landscaping Wages Repairs and maintenance Fuel $ 7,800 $14,200 $ 6,400 32,600 43,900 5,600 2,600 4,400 1,980 1,650 $ 47,030 3,100 3,000 Utilities 1,800 3,000 Total expenses $62,200 $79,100 Operating income $11,300 $15,900 a. Find the missing value for outings revenue, wages, and operating income. b. Comment on the financial performance of each course. c. Identify a limitation of analyzing the information provided.

Exercises 1. The following information is from Bluff Run Golf Courses. The company runs three courses and the July income statement for each course is shown. BLUFF RUN GOLF COURSES Income Statement Month Ending July 31, 2018 Revenues Blue Course Black Course Gold Course $ 42,800 28,000 $ 70,800 Greens fees revenue $62,500 $89,000 Outings revenue Total revenue 6,000 $73,500 $95,000 Expenses Landscaping Wages Repairs and maintenance Fuel $ 7,800 $14,200 $ 6,400 32,600 43,900 5,600 2,600 4,400 1,980 1,650 $ 47,030 3,100 3,000 Utilities 1,800 3,000 Total expenses $62,200 $79,100 Operating income $11,300 $15,900 a. Find the missing value for outings revenue, wages, and operating income. b. Comment on the financial performance of each course. c. Identify a limitation of analyzing the information provided.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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