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Colby Suzanne Hariette operates a hair dressing studio. Hariette cuts hair, but she also rents out chairs in her studio to other stylists. Hariette prepares
Colby Suzanne Hariette operates a hair dressing studio. Hariette cuts hair, but she also rents out chairs in her studio to other stylists. Hariette prepares annual financial statements. (a) Examination of an insurance policy showed $1,240 of expired insurance. (b) An inventory showed $210 of unused shop supplies on hand. (c) Estimated depreciation expense on shop equipment, $350. (d) Estimated depreciation expense on the building, $2,220. (e) A beautician is in arrears on space rental payments, and this $200 of accrued revenues was unrecorded at the time the trial balance was prepared. (f) $800 of the Unearned Rent account balance was earned by year-end. (g) The one employee, a receptionist, works a five-day workweek at $50 per day. The employee was paid last week but has worked four days this week for which she has not been paid. (h) Three months' property taxes, totaling $450, have accrued. This has not been recorded. (i) One month's interest on the note payable, $1,200, has accrued but is unrecorded
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