Cozy Bear is a private camping ground near the Mountain Home Recreation Area. It has compiled the
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Cozy Bear is a private camping ground near the Mountain Home Recreation Area. It has compiled the following fi nancial information as of December 31, 2017.(LO 3)
Service revenue (from camping fees) $148,000 Dividends $ 9,000 Sales revenue (from general store) 35,000 Notes payable 50,000 Accounts payable 16,000 Expenses during 2017 135,000 Cash 18,500 Supplies 12,500 Equipment 129,000 Common stock 40,000 Retained earnings (1/1/2017) 15,000 INSTRUCTIONS
(a) Determine net income from Cozy Bear for 2017.
(b) Prepare a retained earnings statement and a balance sheet for Cozy Bear as of December 31, 2017.
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Related Book For 
Financial Accounting
ISBN: 9781118953907
8th Edition
Authors: Paul D Kimmel, Jerry J Weygandt, Donald E Kieso
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