Account Names Debit Credit Cash $ 3,900 Supplies 4,400 Prepaid Rent Accounts Payable Salaries and Wages Payable Income Tax Payable 6,300 Further Information As reported on December 31 bank statement. Based on count, only $1,350 of supplies still exist. This amount was paid November 1 for rent through the end of January. $1,550 This represents the total amount of bills received for supplies and utilities through December 15. Val estimates that the company has received $460 of utility services through December 31 for which it has not yet been billed. Stylists have not yet been paid $200 for their work on December 31. The company has paid last year's income taxes but not this year's taxes. 2,100 This amount was contributed for common stock in prior years. 800 This is the balance reported at the end of last year. 77,550 Customers pay cash when they receive services. This is the cost of stylist wages through December 30. Common Stock Retained Earnings Service Revenue Salaries and Wages Expense 29,200 Utilities Expense 12,300 Rent Expense Supplies Expense 21,000 4,900 < Prev 8 of 8 This is the cost of utilities through December 15. This year's rent was $2,100 per month. This is the cost of supplies used through Next