Bear Park, a camping ground in the Lake District, has compiled the following financial information as of

Question:

Bear Park, a camping ground in the Lake District, has compiled the following financial information as of December 31, 2020.

Revenues during 2020–camping fees Revenues during 2020-general store Accounts payable Fair value of land Notes payable

Instructions
a. Determine Bear Park’s net income for 2020.
b. Prepare a statement of financial position for Bear Park as of December 31, 2020.

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Related Book For answer-question

Accounting Principles

ISBN: 978-1119419617

IFRS global edition

Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt

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Question Posted: Jun 20, 2019 07:49 AM

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Bear Park, a camping ground in the Lake District, has compiled the following financial information as of

Question:

Revenues during 2020–camping fees Revenues during 2020-general store Accounts payable Fair value of land Notes payable Expenses during 2020 £140,000 65,000 11,000 £140,000 60,000 160,000 Cash on hand 23,000 115,500 Accounts receivable 17,500 Land

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a Camping fee revenues 140000 General store revenues 6...View the full answer

Accounting Principles

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