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Can somebody help me with this? Below is the trial balance for Sally's Salon, Inc., in the space before each account, write whether it is
Can somebody help me with this?
Below is the trial balance for Sally's Salon, Inc., in the space before each account, write whether it is an asset account (A), a liability account (L), an Equity account (E), a Revenue account (R), or an Expense account). Then, using the appropriate accounts, prepare an income statement and a balance sheet. Be sure to include proper headings. You will probably need a separate sheet of paper for these. Sally's Salon, Inc. Trial Balance December 31 _Cash $7,500 Accounts receivable 475 Beauty supplies 2,500 Beauty shop equipment 17,000 Accounts payable $745 Common stock 1,000 Retained earnings Dividends Revenue earned 72,000 Beauty supplies expense 3,425 Rent expense 6,000 Wages expense 22,000 $94,900 594,900 21,155 36,000 TotalsStep by Step Solution
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