Ortega Riding Academy, Inc - FINANCIAL STATEMENT

May 12th, 2015
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Lisa Ortega is the president of Ortega Riding Academy, Inc. The company’s primary source of revenue comes from riding fees and lesson fees, which are paid on a cash basis. The company also board gorses for owners in which they are billed in turn for their monthly boarding fees.

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Acc 557ACC557Lisa Ortega is the president of Ortega Riding Academy, Inc. The companys primary source of revenue comes from riding fees and lesson fees, which are paid on a cash basis. The company also board gorses for owners in which they are billed in turn for their monthly boarding fees. The company has hired a new inexperienced bookkeeper. There were several mistakes made during the general journal entries made by the bookkeeper. The first error was on May 7, it should have read debit unearned revenue and credit riding revenue for $300. The next error was on May 14 there was a cle

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