Michelle Fontaine runs an outdoor adventure company called Call of the Wild Ltd. Her busiest months are June through September, although, if the weather holds, she extends her excursions into October and November. For the month of July, she recorded the following items:
1. She paid $49,860 for employee wages and she spent $14,610 on advertising.
2. Customers paid her $171,430 for excursions that took place in July and $21,000 in deposits for trips scheduled in August and September.
3. She used supplies in July that cost $25,629.
4. She spent $1,532 on the utilities for the office and $3,460 on gas and repairs on the vehicles.
a. Prepare a statement of income to determine how much Call of the Wild Ltd. earned in July.
b. Are there any other costs that might have been incurred in July but were not listed?

  • CreatedJune 11, 2015
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