# accounting

Jan Nab is the sole owner of Deer Park, a public camping ground near the Lake Mead National Recreation Area. Jan has compiled the following financial information as of December 31, 2010.

Revenues during 2010—camping fees \$140,000 Market value of equipment \$140,000
Revenues during 2010—general store 50,000 Notes payable 60,000
Accounts payable 11,000 Expenses during 2010 150,000
Cash on hand 23,000 Supplies on hand 2,500
Original cost of equipment 105,500

Jan Nab began business on January 1, 2010, with an investment of \$20,000.

Instructions

(a) Determine Jan Nab's net income from Deer Park for 2010.

(b) Complete the balance sheet for Deer Park as of December 31, 2010. (List assets in order of liquidity and liabilities from largest to smallest eg 10, 5, 3, 2.)

Deer PARK
Balance Sheet

Assets
\$

Total assets

\$

Liabilities and Owner's Equity
Liabilities
\$

Total Liabilities
Owner's equity

Total liabilities and owner's equity

\$

1. 4898482

posted by Anonymous

## Similar Questions

1. ### acc 100

Jan Nab is the sole owner of Deer Park, a public camping ground near the Lake Mead National Recreation Area. Jan has compiled the following financial information as of December 31, 2010. Revenues during 2010—camping fees
2. ### accounting

Jan Nab is the sole owner of Deer Park, a public camping ground near the Lake Mead National Recreation Area. Jan has compiled the following financial information as of December 31, 2010. Revenues during 2010—camping fees
3. ### math

The model N = 10(4+3t)/1.25 describes the number of deer (N) in a park t years after 40 deer are introduced into the region. Approximately how long will it take the deer population to reach 224? How would I set up this equation?
4. ### English

Which sentence has a dangling modifier? A) Inexpensive and fun, camping is a great way to spend a weekend. B) Sturdy yet comfortable, my new hiking boots will enable me to explore on foot. C) While looking for a campsite, a
5. ### Grammar

Can someone please check if my answers are correct? Identify the verb form that correctly completes each sentence: 1.Earlier, when Matt came in, he ______ the new batteries on the table in the hall. A.sit B.sat C.had sit D.had set
6. ### Math

Here is the instruction: Use the data from the table to calculate the number of hours of daylight for one day per week throughout the year (52 data points). Be sure to use the same day of the week so that your data points are
7. ### college algebra

QUESTION 14 The game commission introduces 100 deer into newly acquired state game lands. The population N of the herd is modeled by where t is the time in years. Find the populations when t=40. (Round your answer to the nearest
8. ### physics

Three deer, A, B, and C, are grazing in a field. Deer B is located 61.1 m from deer A at an angle of 50.9° north of west. Deer C is located 78.4° north of east relative to deer A. The distance between deer B and C is 92.2 m.
9. ### physics

Three deer, A, B, and C, are grazing in a field. Deer B is located 61.0 m from deer A at an angle of 54.1 ° north of west. Deer C is located 79.8 ° north of east relative to deer A. The distance between deer B and C is 98.1 m.
10. ### physics

Three deer, A, B, and C, are grazing in a field. Deer B is located 63.4 m from deer A at an angle of 50.8 ° north of west. Deer C is located 76.7 ° north of east relative to deer A. The distance between deer B and C is 96.7 m.

More Similar Questions