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Given the following adjusted trial balance for Starlight Inc. on December 31, 2024: Account Debit ($) Credit ($) Cash 10,000 Accounts Receivable 15,000 Inventory 20,000
Given the following adjusted trial balance for Starlight Inc. on December 31, 2024:
Account | Debit ($) | Credit ($) |
Cash | 10,000 | |
Accounts Receivable | 15,000 | |
Inventory | 20,000 | |
Equipment | 50,000 | |
Accumulated Depreciation | 5,000 | |
Accounts Payable | 8,000 | |
Notes Payable | 12,000 | |
Common Stock | 20,000 | |
Retained Earnings | 5,000 | |
Sales | 40,000 | |
Cost of Goods Sold | 18,000 | |
Rent Expense | 2,000 | |
Salaries Expense | 8,000 | |
Utilities Expense | 1,000 |
Prepare an income statement, statement of retained earnings, and balance sheet.
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