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Current Attempt in Progress Laura Hall is the sole owner of Wildhorse Vista Park, a public camping ground near the Crater Lake National Recreation Ar- has compiled the following financial information as of December 31, 2022. Revenues during 2022-camping fees Revenues during 2022-general store Accounts payable Cash on hand Original cost of equipment Net income $152,446 70,778 11,978 25,045 $ (a) Determine Laura Hall's net income from Wildhorse Vista Park for 2022. 114,879 64245 Fair value of equipment Notes payable Expenses during 2022 Accounts receivable December 31, 2022 $152,446 65,334 163,335 19,056 (b) Prepare a balance sheet for Wildhorse Vista Park as of December 31, 2022. (List Assets in order of liquidity) WILDHORSE VISTA PARK Balance Sheet

Current Attempt in Progress Laura Hall is the sole owner of Wildhorse Vista Park, a public camping ground near the Crater Lake National Recreation Ar- has compiled the following financial information as of December 31, 2022. Revenues during 2022-camping fees Revenues during 2022-general store Accounts payable Cash on hand Original cost of equipment Net income $152,446 70,778 11,978 25,045 $ (a) Determine Laura Hall's net income from Wildhorse Vista Park for 2022. 114,879 64245 Fair value of equipment Notes payable Expenses during 2022 Accounts receivable December 31, 2022 $152,446 65,334 163,335 19,056 (b) Prepare a balance sheet for Wildhorse Vista Park as of December 31, 2022. (List Assets in order of liquidity) WILDHORSE VISTA PARK Balance Sheet

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Current Attempt in Progress Laura Hall is the sole owner of Wildhorse Vista Park, a public camping ground near the Crater Lake National Recreation Area. has compiled the following financial information as of December 31, 2022. Revenues during 2022-camping fees Revenues during 2022-general store Accounts payable Cash on hand Original cost of equipment (a) Net income $ $152,446 (b) Determine Laura Hall's net income from Wildhorse Vista Park for 2022. 70,778 11,978 25,045 114,879 64245 Fair value of equipment Notes payable Expenses during 2022 Accounts receivable Prepare a balance sheet for Wildhorse Vista Park as of December 31, 2022. (List Assets in order of liquidity.) WILDHORSE VISTA PARK Balance Sheet December 31, 2022 $152,446 65,334 163,335 19,056
Transcribed Image Text:Current Attempt in Progress Laura Hall is the sole owner of Wildhorse Vista Park, a public camping ground near the Crater Lake National Recreation Area. has compiled the following financial information as of December 31, 2022. Revenues during 2022-camping fees Revenues during 2022-general store Accounts payable Cash on hand Original cost of equipment (a) Net income $ $152,446 (b) Determine Laura Hall's net income from Wildhorse Vista Park for 2022. 70,778 11,978 25,045 114,879 64245 Fair value of equipment Notes payable Expenses during 2022 Accounts receivable Prepare a balance sheet for Wildhorse Vista Park as of December 31, 2022. (List Assets in order of liquidity.) WILDHORSE VISTA PARK Balance Sheet December 31, 2022 $152,446 65,334 163,335 19,056
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