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Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Stark company has the
Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Stark company has the following adjusted accounts and normal balances at its December 31 year-end. Notes payable Prepaid insurance. Interest expense Accounts payable Wages payable Cash Insurance expense. Wages expense Stark, Capital Services revenue $ 23,000 Accumulated depreciation-Buildings 3,700 Accounts receivable 740 Utilities expense 7,500 Interest payable 1,600 Unearned revenue $27,000 6,400 2,500 580 1,400 440 160,000 9,000 96,800 Depreciation expense-Buildings 8,000 80,000 Supplies 1,400 34,000 Supplies expense: 8,700 Buildings 3,000 Stark, Withdrawals Exercise 3-17 (Algo) Preparing Financial Statements LO P5 Use the adjusted accounts for Stark Company to prepare the (1) income statement and (2) statement of owner's equity for the year ended December 31 and (3) balance sheet at December 31. The Stark, Capital account balance was $96,800 on December 31 of the prior year, and there were no owner investments in the current year.
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