View previous attempt 3 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 10 points Account Name Cash Supplies Prepaid Rent Accounts Payable Debit $ 45,200 11,500 16,800 $ 3,300 eBook Print 0 References Further Information As reported on December 31 bank statement. Based on count, only $5,000 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 $1,350 of utility services through December 31 for which it has not yet been billed. Stylists have not yet been paid $330 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 $5,600 per month. This is the cost of supplies used through November 30. The company has an average tax rate of 30 percent. Wages Payable Income Tax Payable Contributed Capital Retained Earnings Hair Styling Revenue Wages Expense Utilities Expense Rent Expense Supplies Expense Income Tax Expense 0 3,800 4,500 183,800 38,100 17,600 56,000 10,200 0 Totals $195,400 $195,400 3 3. Calculate the desired balances for each account listed in the unadjusted trial balance. 10 points VAL'S HAIR EMPORIUM Adjusted Trial Balance At December 31, 2017 Debit Account Titles Credit Cash eBook Print References References Supplies Prepaid rent Accounts payable Wages payable Income tax payable Contributed capital Retained earnings Hairstyling revenue Wages expense Utilities expense Rent expense Supplies expense Income tax expense Totals $ 0 $ 0