Carla Vista Lakes Park is a private camping ground near the
Mount Miguel Recreation Area. It has compiled the following
financial information as of December 31, 2022.
Service revenue (from camping fees) |
$170,000 |
Dividends |
$12,600 | |||
---|---|---|---|---|---|---|
Sales revenue (from general store) |
30,000 |
Notes payable |
70,000 | |||
Accounts payable |
15,400 |
Expenses during 2022 |
156,600 | |||
Cash |
11,900 |
Supplies |
7,700 | |||
Equipment |
159,600 |
Common stock |
56,000 | |||
Retained earnings (1/1/2022) |
7,000 |
Determine Carla Vista Lakes Park’s net income for
2022.
CARLA VISTA LAKES PARK
Retained Earnings Statement
choose the accounting period
For the Month Ended December
31, 2022December 31, 2022For the Year Ended December 31,
2022
CARLA VISTA LAKES PARK
Balance Sheet
Answer 1:
Carla Vista Lakes Park’s net income for 2022 = $43,400
Working:
Answer 2:
Answer 3:
Carla Vista Lakes Park is a private camping ground near the Mount Miguel Recreation Area. It...
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