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Emporium operates a hair salon. Its unadjusted trial balance as of December 31, 2021, follows, along with accounts Salaries and ages Payable Tax Payable
Emporium operates a hair salon. Its unadjusted trial balance as of December 31, 2021, follows, along with accounts Salaries and ages Payable Tax Payable Common Stack Dubit $4,700 Credit 8,700 Retained Earnings Service Revenue Salaries and Wages Expense 30,000 Utilities Expense 13,100 Rent Expense Supplies Expense 29,000 5,700 Income Tax Expense Totals $ 96,400 Further Information As reported on December 31 bank statement. Based on count, only $1,750 of supplies still exist. This amount was paid November 1 for rent. through the end of January. $1,950 This represents the total amount of bills received for supplies and utilities through December 15. Val estimates that the company has received $540 of utility services through December 31, for which it has not yet been i billed. 0 Stylists have not yet been paid $150 for their work on December 31.1 The company has paid last year's income taxes but not this year's taxes. 2,900 This amount was contributed for common stock in prior years. 900 This is the balance reported at the end of last year. 90,650 Customers pay cash when they receive $ 96,400 services. This is the cost of stylist wages through December 30. This is the cost of utilities through December 15, This year's rent was $2,900 per month. This is the cost of supplies used through November 30. The company has an average tax rate of 30%.
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