Question
Flint Hills Park is a private camping ground near the Lathom Peak Recreation Area. It has compiled the following financial information as of December 31,
Flint Hills Park is a private camping ground near the Lathom Peak Recreation Area. It has compiled the following financial information as of December 31, 2014.
Service revenue (from camping fees)$132,000Dividends$9,000
Sales revenue (from general store)25,000Notes payable50,000
Accounts payable11,000Expenses during 2014126,000
Cash8,500Supplies5,500
Equipment114,000Common stock40,000
Retained earnings (1/1/2014)5,000
(a) Make an income statement, retained Earnings Statement, and a balance sheet.
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Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
5th edition
ISBN: 9780470418239, 470239808, 9780470239803, 470418230, 978-1118128169
