1.	Supplies on hand at December 31, 2011, total $1,000.
2.	The studio pays rent quarterly (every three months). The last payment was made November 1, 2011. The next payment will be made early in February 2012.
3.	Studio equipment is being depreciated over 120 months (10 years).
4.	On October 1, 2011, the studio borrowed $24,000 by signing a 12-month, 12 percent note payable. The entire amount, plus interest, is due on September 30, 2012.
5.	At December 31, 2011, $3,000 of previously unearned client fees had been earned.
6.	Accrued, but unrecorded and uncollected client fees earned total $690 at December 31, 2011.
7.	Accrued, but unrecorded and unpaid salary expense totals $750 at December 31, 2011.
8.	Accrued income taxes expense for the entire year ending December 31, 2011, total $7,000. The full amount is due early in 2012.