The General's Favorite Fishing Hole

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Question: Bob Night opened The General Favorite Fishing Hole. The fishing camp is open from April through S...

Bob Night opened The General Favorite Fishing Hole. The fishing camp is open from April through September and attracts many famous college basketball coaches during the off season. Guests typically register for one week, arriving on Sunday afternoon and returning home the following Saturday afternoon. The registration fee includes room and board, the use of fishing boats, and professional instruction in fishing techniques. The chart of accounts for the camping operations is provided below. The General's Favorite Fishing Holes Charts of Accounts Assets 101 Cash 142 Office supplies 144 food supplies 145 preparid insurance 181 fishing boats 181.2 accum. depr. fishing boats Liabilities 202 accounts payable 219 wages payable owner's equity 311 bob night, capital 312 bob night, drawing 313 income summary revenues 401 registration fees expenses 511 wages expense 521 rent expense 523 office supplies expense 524 food supplies expense 525 telephone expense 533 utilities expense 535 insurance expense 536 postage expense 542 depr. exp. fishing boats