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preparing income statement, statement of retained earning,and balance sheet from the below unadjusted trial balance Magic Styles Inc. Unadjusted Trial Balance At March 31, 2023
preparing income statement, statement of retained earning,and balance sheet from the below unadjusted trial balance
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 |
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