Tar Heel Corporation provides the following information at the end of 2024. Required: Prepare the income statement,
Question:
Tar Heel Corporation provides the following information at the end of 2024.
Required:
Prepare the income statement, statement of stockholders’ equity, and balance sheet for Tar Heel Corporation on December 31, 2024.
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Salaries payable to workers at the end of the year Advertising expense for the year Building that has been purchased Supplies at the end of the year Retained earnings Utilities expense for the year Note payable to the bank Service revenue performed during the year Salary expense for the year Accounts payable to suppliers Dividends paid to shareholders during the year Common stock that has been issued, including $6,000 that was issued this year Cash remaining Interest expense for the year Accounts receivable from customers Retained earnings at the beginning of the year $ 3,300 10,400 80,000 4,600 40,000 6,000 25,000 69,400 26,700 7,700 (?) 27,000 5,200 2,100 13,200 26,800
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Income Statement Revenue Service revenue performed during the year 69400 Expenses Salary expense for ...View the full answer
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