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 $ 10,700 As reported on December 31 bank statement Supplies 5,500 Based on count, only $3,500 of supplies still exist Prepaid Rent 7,800 This amount was paid November 1 for rent through the end of January Accounts Payable $ 1,800 This represents the total amount of bills received for supplies and utilities through December 15 Val estimates that the company has received $600 of utility services through December 31 for which it has not yet been billed Wages Payable 0 Stylists have not yet been paid $180 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 2,300 This amount was contributed to the company in prior years Retained Earnings 1,500 This is the balance reported at the end of last year Hair Styling Revenue 93,800 Customers pay cash when they receive services Wages Expense 30,600 This is the cost of stylist wages through December 30 Utilities Expense 13,100 This is the cost of utilities through December 15 Rent Expense 26,000 This years rent was $2,600 per month Supplies Expense 5,700 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 $ 99,400 $ 99,400 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 Account titles Debit Credit 4 Journal entry Worksheet Transaction General Journal Debit Credit

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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

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	$	10,700			As reported on December 31 bank statement.
Supplies		5,500			Based on count, only $3,500 of supplies still exist.
Prepaid Rent		7,800			This amount was paid November 1 for rent through the end of January.
Accounts Payable			$	1,800	This represents the total amount of bills received for supplies and utilities through December 15. Val estimates that the company has received $600 of utility services through December 31 for which it has not yet been billed.
Wages Payable				0	Stylists have not yet been paid $180 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				2,300	This amount was contributed to the company in prior years.
Retained Earnings				1,500	This is the balance reported at the end of last year.
Hair Styling Revenue				93,800	Customers pay cash when they receive services.
Wages Expense		30,600			This is the cost of stylist wages through December 30.
Utilities Expense		13,100			This is the cost of utilities through December 15.
Rent Expense		26,000			This years rent was $2,600 per month.
Supplies Expense		5,700			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	$	99,400	$	99,400

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. Account titles. Debit. Credit 4. Journal entry Worksheet Transaction. General Journal. Debit. Credit.