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The unadjusted Trial Balance for Karama's Salon as at 31 March 2017 is below: Additional Information: 1. Depreciation for salon equipment is provided at 25%

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The unadjusted Trial Balance for Karama's Salon as at 31 March 2017 is below: Additional Information: 1. Depreciation for salon equipment is provided at 25% p.a. using the straightline method. $5,000 of the salon equipment was acquired on 1 January 2017. The balance was purchased when the business started. 2. The owner has withdrawn an additional $50 per week from the business for personal use and not recorded it. Assume there are 52 weeks in the reporting period. 3. Unexpired insurance amounts to $2,000 as at 31 March 2017. 4. Rent for March 2017 will not be paid until the first week of April. Rent is charged at $1,000 per month. 5. Salaries of $900 are unpaid as at 31 March2017. 6. There is $50 worth of Beauty Supplies on hand at the end of March. Required: (a) Prepare the necessary General Journal adjusting entries for the 3 months ended 31 March 2017 (narrations are not necessary). (b) Prepare the Income Statement (Statement of Financial Performance) for the 3 months ended 31 March 2017. (c) Prepare a Statement of Changes in Equity for the 3 months ended 31 March 2017. (d) Prepare the Balance Sheet (Statement of Financial Position) as at 31 March 2017

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