Food TRANGE TANCE KODA ACCOUNT TITLE Der BAG HANCE SHEET DORT INCOME SOR DORO DET OUT Wa name 017 Svet 00 Door CRYS SCO NO TACT 200 home SS Read 1. Pred 2. A Penare the more 4 + CHART OF ACCOUNTS Aunt Ibby's Styling Salon General Ledger ASSETS REVENUE 101 Cash 401 Styling Fees 122 Accounts Receivable 141 Styling Supplies EXPENSES 145 Prepaid Insurance 181 Salon Equipment 181 1 Accumulated Depreciation-Salon Equipment 511 Wages Expense 512 Advertising Expense 521 Rent Expense 523 Styling Supplies Expense LIABILITIES 525 Phone Expense 533 Utilities Expense 202 Accounts Payable 219 Wages Payable 535 Insurance Expense 538 Gas and Oil Expense EQUITY 541 Depreciation Expense-Salon equipment 549 Miscellaneous Expense 311 Elizabeth Soltis, Capital 312 Elizabeth Soltis, Drawing 313 Income Summary Labels Current Assets Current Liabilities December 31, 20- Expenses For Year Ended December 31, 20- Property, Plant, and Equipment Revenue Amount Descriptions Decrease in Capital Increase in Capital Elizabeth Soltis, Capital, January 1, 20-- Elizabeth Soltis. Capital, December 31, 20- Net Income Net Loss Total Assets Total Expenses Total Current Assets Total Current Liabilities Total Liabilities and Owner's Equity Withdrawals for 20-- eBook Il-post la Aunt Ibby's Styling Salon Worksheet For Year Ended December 31, 20- 1 TRIAL BALANCE TRIAL BALANCE ADJUSTMENTS AD ADJUSTMENTS ADJUSTED TRIAL BALANCE 2 ACCOUNT TITLE DEBIT CREDIT Cash DEBIT CREDIT DEBIT 940.00 CI 1.500,00 940:00 () 1.450.00 800.00 50.00 (b) 650.00 4.500.00 150.00 Styling Supplies 5 Prepaid Insurance Salon Equipment Accumulated Depreciation Salon Equipment + Accounts Payable Wages Payable 10 Elizabeth Soltis. Capital 11 Elizabeth Soltis Drawing 4,500.00 (d) 900.00 225.00 (c) 40.00 2.765.00 12,000.00 11 Styling Fees 12,000.00 32,000.00 8,000.00 (c) 40.00 6,000.00 11 Wages Expense 14 Rent Expense 15 Styling Supplies Expense 16 Phone Expense - Utilities Expense 8,040.00 6,000.00 (-) 1.450.00 1.450.00 450.00 450.00 800.00 1t Insurance Expense 800.00 650.00 19 Depreciation Expense - Salon Equipment (b) 650.00 (d) 900.00 55.040.00 900.00 JO $34.990.00 $34.990.00 53.040.00 $35.950.00 21 Net Income Check My Work *** WORT For Year Ended December 31, 20 TRIAL BALANCE ADJUSTMENTS ADJUSTMENTS ADIUSTED TRIAL BALANCE ADIUSTED TRIAL BALANCE INCOME STATEMENT INCOME STATEMENT CREDIT BALANCE SHEET DEBIT BALANCE SHEET CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT a) 1,450.00 940.00 50.00 940.00 (6) 650.00 150.00 50.00 4,500.00 150.00 (d) 900.00 4.500.00 225.00 900.00 900.00 225.00 (940,00 225.00 2,765.00 40.00 2,765.00 40.00 2.76500 12.000.00 32,000.00 12,000.00 32,000.00 32,000.00 (0)40.00 8,040.00 8,040.00 6,000.00 6.000.00 ) 1,450.00 1.450.00 1,450.00 450.00 450.00 800.00 800.00 650.00 650.00 (6) 650.00 (d) 900.00 $3,040,00 900.00 900,00 $54.990.00 53.040.00 $35,930.00 $35,950.00 18.290.00 32.000,00 17640.00 5.950.00 13.710.00 13.710.00 $32,000.00 $52.000.00 $17.640.00 517640.00 CHART OF ACCOUNTS Aunt Ibby's Styling Salon General Ledger ASSETS REVENUE 101 Cash 401 Styling Fees 122 Accounts Receivable 141 Styling Supplies 145 Prepaid Insurance 181 Salon Equipment 181.1 Accumulated Depreciation-Salon Equipment LIABILITIES 202 Accounts Payable 219 Wages Payable EXPENSES 511 Wages Expense 512 Advertising Expense 521 Rent Expense 523 Styling Supplies Expense 525 Phone Expense 533 Utilities Expense 535 Insurance Expense 538 Gas and Oil Expense 541 Depreciation Expense-Salon equipment 549 Miscellaneous Expense EQUITY 311 Elizabeth Soltis, Capital 312 Elizabeth Soltis, Drawing 313 Income Summary Check My Work Labels and Amount Descriptions Labels Current Assets Current Liabilities December 31, 20- Expenses For Year Ended December 31, 20-- Property, Plant, and Equipment Revenue Amount Descriptions Decrease in Capital Increase in Capital Elizabeth Soltis, Capital, January 1, 20-- Elizabeth Soltis, Capital, December 31, 20-- Net Income Net Loss Total Assets Total Expenses Total Current Assets Total Current Liabilities Total Liabilities and Owner's Equity Withdrawals for 20- Chapter Ub Maste DEBIT CREDIT POST. REF. DATE ACCOUNT TITLE Adjusting Entries 1 2 3 4 5 6 7 1 10 Closing Entries > 11 12 11 14 15 15 17 15 19 20 21 22 21 24 Check My Work 2. Prepare an income statement Income Statement Instructions Aunt lbby's Styling Salon Income Statement (Label) 1 (Label) 2 3 (Label 4 5 6 7 8. 9 10 11 12 Check Statement of Owner's Equity 3. Prepare the statement of owner's equity. Soltis made no additional investments during the year. Statement of Owner's Equity Instructions Aunt Ibby's Styling Salon Statement of Owner's Equity (Label) 1 2 3 4 5 Balance Sheet Instructions Aunt Ibby's Styling Salon Balance Sheet (Label) 1 Assets ? Label 5 4 5 6 1 (Label) 8 9 10 11 Liabilities 12 Label 15 14 15 10 Owner's Equity 17 18 Check My Work Assignment