Vals Hair Emporium is a hair salon. Its unadjusted trial balance as of December 31, 2017, follows, along with information about selected accounts.

Account Name	Debit			Credit			Further Information
Cash	$	15,300					As reported on December 31 bank statement.
Supplies		6,300					Based on count, only $3,700 of supplies still exist.
Prepaid Rent		9,000					This amount was paid November 1 for rent through the end of January.
Accounts Payable				$	2,000		This represents the total amount of bills received for supplies and utilities through December 15. Val estimates that the company has received $700 of utility services through December 31 for which it has not yet been billed.
Wages Payable					0		Stylists have not yet been paid $200 for their work on December 31.
Income Tax Payable					0		The company has paid last years income taxes but not this years taxes.
Contributed Capital					2,500		This amount was contributed to the company in prior years.
Retained Earnings					1,900		This is the balance reported at the end of last year.
Hair Styling Revenue					105,800		Customers pay cash when they receive services.
Wages Expense		31,600					This is the cost of stylist wages through December 30.
Utilities Expense		13,700					This is the cost of utilities through December 15.
Rent Expense		30,000					This years rent was $3,000 per month.
Supplies Expense		6,300					This is the cost of supplies used through November 30.
Income Tax Expense		0					The company has an average tax rate of 30 percent.
Totals	$	112,200		$	112,200

Val's Hair Emporium is a hair salon. Its unadjusted trial balance as of December 31, 2017, follows, along with information about selected accounts Credit Account Name Cash Supplies Prepaid Rent Accounts Payable Debit $ 15,300 6,300 9,000 $ 2,000 0 0 Wages Payable Income Tax Payable Contributed Capital Retained Earnings Hair Styling Revenue Wages Expense Utilities Expense Rent Expense Supplies Expense Income Tax Expense Further Information As reported on December 31 bank statement. Based on count, only $3,700 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 $700 of utility services through December 31 for which it has not yet been billed. Stylists have not yet been paid $200 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 to the company 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 $3,000 per month This is the cost of supplies used through November 30. The company has an average tax rate of 30 percent. 2,500 1,900 105,800 Expense 31,600 13,700 30,000 6,300 0 Totals $ 112,200 $ 112,200 Required: 1. Nothing to answer here. 2. Name the five pairs of balance sheet and income statement accounts that require adjustment Balance Sheet Account Related Income Statement Account 3. Calculate the desired balances for each account listed in the unadjusted trial balance. VAL'S HAIR EMPORIUM Adjusted Trial Balance At December 31, 2017 Debit Account Titles Credit Totals 0 $ 0 4. Prepare the adjusting journal entries that are required at December 31, 2017. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 5 > Record the supplies based on supplies count. Note: Enter dehits before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal Val's Hair Emporium is a hair salon. Its unadjusted trial balance as of December 31, 2017, follows, along with information about selected accounts Credit Account Name Cash Supplies Prepaid Rent Accounts Payable Debit $ 15,300 6,300 9,000 $ 2,000 0 0 Wages Payable Income Tax Payable Contributed Capital Retained Earnings Hair Styling Revenue Wages Expense Utilities Expense Rent Expense Supplies Expense Income Tax Expense Further Information As reported on December 31 bank statement. Based on count, only $3,700 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 $700 of utility services through December 31 for which it has not yet been billed. Stylists have not yet been paid $200 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 to the company 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 $3,000 per month This is the cost of supplies used through November 30. The company has an average tax rate of 30 percent. 2,500 1,900 105,800 Expense 31,600 13,700 30,000 6,300 0 Totals $ 112,200 $ 112,200 Required: 1. Nothing to answer here. 2. Name the five pairs of balance sheet and income statement accounts that require adjustment Balance Sheet Account Related Income Statement Account 3. Calculate the desired balances for each account listed in the unadjusted trial balance. VAL'S HAIR EMPORIUM Adjusted Trial Balance At December 31, 2017 Debit Account Titles Credit Totals 0 $ 0 4. Prepare the adjusting journal entries that are required at December 31, 2017. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 5 > Record the supplies based on supplies count. Note: Enter dehits before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal