Shining Star Camp conducts summer camps for children with physical challenges. Because of the nature of its business, Shining Star Camp experiences many unusual transactions. Evaluate each of the following transactions in terms of its effect on Shining Star Camp’s income statement and balance sheet.
a. A camper suffered a dental injury that was not covered by insurance. Shining Star Camp paid $1,000 for the child’s dental care.
b. One camper’s mother is a physician. Shining Star Camp allows this child to attend camp in return for the mother serving part time in the camp infirmary for the two week term. The standard fee for a camp term is $1,500. The physician’s salary for this part-time work would be $1,500.
c. Lightning during a storm damaged the camp dining hall. The cost to repair the damage will be $5,000 over and above what the insurance company will pay.
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