BUS 202 - Financial Accounting
	Spring 2022
	Assignment
	Cimear's Hair Design
	The following tasks need to be completed for Cimear's Hair Design for the month of July.
		A. Post the Unadjusted Trial Balance to the general ledger.
		B. Enter the DEC 31 adjusting entries into the general journal.
		C. Post the adjusting entries for Decemeber into the general ledger.
		D. Prepare an Adjusted trial balance at 31 Dec 2000.
		E. Prepare an income statement, a statement of retained earnings, and a balance sheet.
1	31-Dec	A note payable of $6,000 has been outstanding since September 1, 2000. Under the terms of the note, the note plus interest (12%) is to be paid on March 1, 2001. No interest has been recorded on the note.
2	31-Dec	Salaries of $650 for December will be paid in January.
3	31-Dec	Service provided to a customer for $350 has not been recorded/collected.
4	31-Dec	A computer was purchased on January 1, 1998 for $1,600. The useful life of the computer is 4 years. Record depreciation for a year.
5	31-Dec	On October 1, 2000, the compnay had paid $4,800 as insurance for a six month period.
6	31-Dec	The amount of supplies available on hand at the end of December was $2000.
7	31-Dec	Services were provided (earned) to a customer for $450. The cash was collected in advance on November 28, 2000.
8	31-Dec	$2,000 of the unearned service revenue had been earned