The trial balance for Benner Hair Salon on March 31 is as follows:

Data for month- end adjustments are as follows:
a. Expired or used- up insurance, $ 300.
b. Depreciation expense on equipment, $ 500.
c. Wages accrued or earned since the last payday, $ 235 (owed and to be paid on the next payday).
d. Supplies remaining at the end of the month, $ 65.

Required
1. Complete a work sheet for the month.
2. Journalize the adjusting entries.
3. Prepare an income statement, a statement of owner€™s equity, and a balance sheet. Assume that no additional investments were made duringMarch.

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Benner Hair Salorn Trial Balance March 31,20 Debit 4 440 150 2,354 10,507 Account Name Cash Supplies Prepaid Insuranoe Equipment Accumulated Depreciation, Equipment Accounts Payable A. Benner, Capital A. Benner, Drawing Salon Fees Wages Expense Rent Expense Utilities Expense Repair Expense Miscellaneous Expense Credit 1,000 240 13,449 1,500 6,230 1,036 650 130 65 87 20,919 20,919