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prepare an (adjusting) journal entry (a-e) a. record the adjusting entry for supplies b. recoed the adjusting entry for rent c. record the adjusting entry
prepare an (adjusting) journal entry (a-e)a. record the adjusting entry for supplies b. recoed the adjusting entry for rent c. record the adjusting entry for utilities expense d. record the adjusting entry for salaries ans wages e. record the adjusting entry for income tax given information Val's Hair Emporium operates a hair salon. Its unadjusted trial balance as of December 31, 2018, follows, along with information about selected accounts. Credit Account Names Cash Supplies Prepaid Rent Debit $ 3,700 4,200 5,700 Accounts Payable $ 1,450 Salaries and Wages Payable Income Tax Payable Further Information As reported on December 31 bank statement. Based on count, only $1,250 of supplies still exist. This amount was paid November 1 for rent through the end of January This represents the total amount of bills received for supplies and utilities through December 15. Val estimates that the company has received $440 of utility services through December 31 for which it has not yet been billed. Stylists have not yet been paid $100 for their work on December 31. The company has paid last year's income taxes but not this year's taxes. This amount was contributed for common stock in prior years. This is the balance reported at the end of last year. Customers 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 $1,900 per month This is the cost of supplies used through November 30. The company has an average tax rate of 25% 1,900 700 74,350 29,000 Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Utilities Expense Rent Expense Supplies Expense Income Tax Expense Totals 12,100 19,000 4,700 @ $78,400 $78,400 3. Prepare the adjusting journal entries that are required at December 31, 2018. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.)
a. record the adjusting entry for supplies
b. recoed the adjusting entry for rent
c. record the adjusting entry for utilities expense
d. record the adjusting entry for salaries ans wages
e. record the adjusting entry for income tax
given information
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