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I need help with this accounting question Novak Corp., a public camping ground near the Four Corners National Recreation Area, has compiled the following financial
I need help with this accounting question
Novak Corp., a public camping ground near the Four Corners National Recreation Area, has compiled the following financial information as of December 31, 2020. Revenues during 2020-camping fees Revenues during 2020-general store Accounts payable Cash on hand Original cost of equipment Fair value of equipment $207,200 69,560 16,280 29,600 156,140 207,200 Notes payable Expenses during 2020 Supplies on hand Common stock Retained earnings $88,800 222.000 3,700 29,600 ? Prepare a balance sheet for Novak Corp. as of December 31, 2020. (List Assets in order of liquidity.) Novak Corp. Balance Sheet December 31, 2020 Assets Cash $ 29.600 Total Assets $ Liabilities and Stockholders' Equity Liabilities Accounts Payable $ $ 16280 Notes Payable 88800 Total Liabilities $ 105080 Stockholders' Equity Common Stock 29600 | Total Stockholders' Equity Total Liabilities and Stockholders' Equity $Step by Step Solution
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