Magic Styles Inc.
Unadjusted Trial Balance
At March 31, 2023
Cash	$ 18,000.00
Prepaid Insurance	$ 600.00
Prepaid Rent	$ 7,300.00
Shop Equipment	$ 9,700.00
Shop Furniture and Fixtures	$ 9,700.00
Accounts Payable		$ 10,800.00
Deferred Revenue		$ 400.00
Notes Payable ( Long-term)		$ 20,000.00
Common Stock		$ 10,000.00
Retained Earnings, Feb. 28, 2023		$ 2,100.00
Dividends	$ 300.00
Service Revenue		$ 12,300.00
Supplies Expense	$ 5,500.00
Salaries and Wages	$ 3,200.00
Utilities Expense	$ 700.00
Rent Expense	$ 600.00
TOTAL	$ 55,600.00	$ 55,600.00

Magic Styles, Inc. opens its first hair salon in Calgary on January 1, 2023. It prepares a monthly financial statement for its owners and external stakeholders. Below is the unadjusted trial balance of Magic Styles at the end of its third month of operation ending on March 31, 2023.

Magic Styles, Inc.

Unadjusted Trial Balance

At March 31, 2023

Cash 18,000.00 Prepaid Insurance 600.00 Prepaid Rent 7,300.00 Equipment 9,700.00 Furniture and Fixtures 9,700.00 Accounts Payable 10,800.00 Deferred Revenue 400.00 Notes Payable Long-term) 20,000.00 Common Stock 10,000.00 Retained Earnings, February 28, 2023 2,100.00 Dividends 300.00 Service Revenue 12,300.00 Supplies Expense 5,500.00 Salaries and Wages 3,200.00 Utilities Expense 700.00 Rent Expense 600.00 TOTAL 55,600.00 55,600.00