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please could someone do this? Required information [The following information applies to the questions displayed below) Val's Hair Emporium operates a hair salon. Its unadjusted
please could someone do this?
Required information [The following information applies to the questions displayed below) Val's Hair Emporium operates a hair salon. Its unadjusted trial balance as of December 31, 2021, follows, along with information about selected accounts. Account Names Cash Supplies Debit $ 3,600 4,100 Prepaid Rent 5,400 Accounts Payable Salaries and Wages Payable Income Tax Payable Credit Further Information As reported on December 31 bank statement. Based on count, only $1,200 of supplies still exist. This amount was paid November 1 for rent through the end of January. $ 1,400 This represents the total amount of bills received for supplies and utilities through December 15. Val estimates that the company has received 5430 of utility services through December 31 for which it has not yet been billed. Stylists have not yet been paid $150 for their work on December 31. The company has paid last year's income taxes but not this year's taxes. 1,500 This amount was contributed for common stock in prior years, 900 This is the balance reported at the end of last year. 72,500 customer's pay cash when they receive 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 $1,000 per month This is the cost of supplies used through November 30 The company has an average tax rate of 255 5.26.000 Common Stock Retained Earnings Service Revenue 28.000 12,000 Salaries and Wages Expense Utilities Expense Rent Expense Supplies Expense Income Tax Expense Totals 10,000 4.600 0 5.2000 4-0. Calculate the adjusted net income that the company should report for the year ended December 31, 2021. 4-b. By what dollar amount did the adjustments in requirement (3) cause net income to increase or decrease? Complete this question by entering your answers in the tabs below. Reg 4A Reg 48 Calculate the adjusted net income that the company should report for the year ended December 31, 2021. tes VAL'S HAIR EMPORIUM Income Statement Required information Income Statement Step by Step Solution
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