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An income statement for Parties Plus, Inc. was prepared by an inexperienced accountant. Identify ALL the problems. Parties Plus, Inc. as of December 31,

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An income statement for Parties Plus, Inc. was prepared by an inexperienced accountant. Identify ALL the problems. Parties Plus, Inc. as of December 31, current year $21,920 Fees earned Cash 2.060 $23.980 Wages expense $10,500 Supplies expense 1,120 Accumulated 1.600 13.220 depreciation Retained earnings $10,760

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