Find out deet park net income

Assignment Help Financial Accounting

Reference no: EM13141445

Prepare a correct balance sheet

Deer Park, financial information as of December 31 2008.

Revenues during 2008--camp fees $140,000
Revenues during 2008--general store $50,000
account payable $11,000
cash on hand $23,000
original cost of equipment $105,000
market value equipment $140,000
note payable $6,000
expenses during 2008 $150,000
supplies on hand $2,500
common stock $20,000
retained earnings ?

(a) determine deet park's net income for 2008

(b) prepare a balance sheet for deer park

Reference no: EM13141445

Questions Cloud

Chance-total weight of passengers exceed four thousand pound : What is the approximate probability that the total weight of the passengers exceeds 4000 pounds? Use the four-step process to guide your work.

Compute the approximate quantization : Calculate the approximate quantization S/N ratio in the baseband audio signal at the receiver output (after the DAC and LPF).

Contribution format income statement : Prepare a new contribution format income statement under each of the following conditions (consider each case independently):

Differences from fair value : What impact would the differences in the methods allowed to determine fair value have on the financial reports? Differences from Fair value measurement AASB13

Find out deet park net income : Find out deet park's net income for 2008 . Prepare a balance sheet for deer park

Discuss the evolution of america''s political thought : Discuss the evolution of America's political thought as we moved from the first Federalist administration of Washington through the administration of Adams

Prepare a tabular analysis of september transactions : Prepare a tabular analysis of the September transactions beginning with August 31 balances.

Invoice within the discount period : Sampson Co. sold merchandise to Batson Co. on account, $46,000, terms 2/15, net 45. The cost of the merchandise sold is $38,500. Sampson Co. issued a credit memo for $1,500 for merchandise returned that originally cost $950. The Batson Co. paid th..

Define the winding resistance and leakage reactance : A 415V to 11 kV transformer has a rating of 200 kVA. The winding resistance and leakage reactance when referred to the primary are 0.014 and 0.057 ohms respectively.

User Account

All Pages