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Judy Cumby is the sole owner of Oriole, a public camping ground near Gros Morne National Park. Judy has gathered the following financial information for
Judy Cumby is the sole owner of Oriole, a public camping ground near Gros Morne National Park. Judy has gathered the following financial information for the year ended March 31, 2021: $40,000 23,200 120,000 Revenues-camping fees Operating expenses Supplies on hand Fair value of equipment Accounts payable Accounts receivable Camping fees collected for April $ 170,000 Revenues-general store 151,000 Cash on hand 2,500 Original cost of equipment 135,000 Notes payable 12.400 J.Cumby, capital, April 1, 2020 21,600 J.Cumby, drawings 10,000 Insurance paid for in advance for April to June, 2021 80,000 17,000 10.500 600 Calculate Oriole's profit for the year, Profit ORIOLE Balance Sheet Assets
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