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I need help please Val's Hair Emporium is a hair salon. Its December 31, 2020, unadjusted trial balance follows, along with information about selected accounts.
I need help please
Val's Hair Emporium is a hair salon. Its December 31, 2020, unadjusted trial balance follows, along with information about selected accounts. Required: 1. Calculate the (preliminary) unadjusted net income for the year ended December 31, 2020. Required: 1. Calculate the (preliminary) unadjusted net Income for the year ended December 31, 2020. 2 Name the five pairs of balance sheet and Income statement accounts that require adjustment. 3. Calculate the desired balances for each account isted in the unadjusted trial balance. 4. Prepare the adjusting joumal entrles that are required at December 31 , 2020 . (If no entry is required for a transaction/event, select No journal entry required" in the first account field.) Journal entry worksheet Record the supplies based on supplies count. Note: Enter debits before cred ts. 5-a. Calculate the adjusted net Income that the company should report for the year ended December 31,2020 . 5-b. By how much did the adjustments in requirement (4) cause net Income to increase or decreaseStep by Step Solution
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