Homework Help is Here – Start Your Trial Now!
Business
Accounting
The park's financial records are as follows.  Revenues-camping fees $163,000 Revenues - general store $40,000 Operating expenses 155,000 Cash on hand 17.200 Supplies on hand 2,500 Original cost of equipment 117 ,000 Fair value of equiprment 132,000 Notes payable 80,000 Accounts payable 12.200 J Cumby, capital, April 1, 2023 17,000 Accounts receivable 21,400 J. Cumby, drawings 8,500 Carmping fees collected for April 10,000 Insurance paid for in advance for April to June, 2024 600   create a balance sheet with Liabilities and Owner's Equity.

The park's financial records are as follows.  Revenues-camping fees $163,000 Revenues - general store $40,000 Operating expenses 155,000 Cash on hand 17.200 Supplies on hand 2,500 Original cost of equipment 117 ,000 Fair value of equiprment 132,000 Notes payable 80,000 Accounts payable 12.200 J Cumby, capital, April 1, 2023 17,000 Accounts receivable 21,400 J. Cumby, drawings 8,500 Carmping fees collected for April 10,000 Insurance paid for in advance for April to June, 2024 600   create a balance sheet with Liabilities and Owner's Equity.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

The park's financial records are as follows. 

Revenues-camping fees
$163,000
Revenues - general store
$40,000
Operating expenses
155,000
Cash on hand
17.200
Supplies on hand
2,500
Original cost of equipment
117 ,000
Fair value of equiprment
132,000
Notes payable
80,000
Accounts payable
12.200
J Cumby, capital, April 1, 2023
17,000
Accounts receivable
21,400
J. Cumby, drawings
8,500
Carmping fees collected for April
10,000
Insurance paid for in advance for April to June, 2024
600

 
create a balance sheet with Liabilities and Owner's Equity.
Expert Solution
steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Financial Reporting in Hyperinflationary Economies
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS