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Laura Hall is the sole owner of Wildhorse Vista Park, a public camping ground near the Crater Lake National Recreation Area. Laura 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 70,778 11,978 25,045 114,879 (b) Fair value of equipment Notes payable Determine Laura Hall's net income from Wildhorse Vista Park for 2022. Expenses during 2022 Accounts receivable WILDHORSE VISTA PARK Balance Sheet $152.446 Assets. 65.334 Prepare a balance sheet for Wildhorse Vista Park as of December 31, 2022. (List Assets in order of liquidity) 163.335 19.056

Laura Hall is the sole owner of Wildhorse Vista Park, a public camping ground near the Crater Lake National Recreation Area. Laura 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 70,778 11,978 25,045 114,879 (b) Fair value of equipment Notes payable Determine Laura Hall's net income from Wildhorse Vista Park for 2022. Expenses during 2022 Accounts receivable WILDHORSE VISTA PARK Balance Sheet $152.446 Assets. 65.334 Prepare a balance sheet for Wildhorse Vista Park as of December 31, 2022. (List Assets in order of liquidity) 163.335 19.056

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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Laura Hall is the sole owner of Wildhorse Vista Park, a public camping ground near the Crater Lake National Recreation Area. Laura 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 S $152,446 70,778 (b) 11,978 25,045 114,879 Determine Laura Hall's net income from Wildhorse Vista Park for 2022 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 Assets. $152.446 65,334 163.335 19.056 Liabilities and Owner's Equity
Transcribed Image Text:Laura Hall is the sole owner of Wildhorse Vista Park, a public camping ground near the Crater Lake National Recreation Area. Laura 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 S $152,446 70,778 (b) 11,978 25,045 114,879 Determine Laura Hall's net income from Wildhorse Vista Park for 2022 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 Assets. $152.446 65,334 163.335 19.056 Liabilities and Owner's Equity
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