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Question
Based on the following trial balance for Sal's Beauty Shop, prepare an income statement, statement of retained earnings and a balance sheet. Sal made no additional investments in the company during the year.
| SALS BEAUTY SHOP Trial Balance December 31 | ||
| Cash | $ 6,500 | |
| Accounts receivable | 475 | |
| Beauty supplies | 2,500 | |
| Beauty shop equipment | 17,000 | |
| Accounts payable | $ 745 | |
| Common stock | 10,000 | |
| Retained earnings | 11,155 | |
| Dividends | 36,000 | |
| Revenue earned | 72,000 | |
| Beauty supplies expense | 3,425 | |
| Rent expense | 6,000 | |
| Wages expense | 22,000 | |
| Totals | $93,900 | $93,900 |
Answer
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Related questions
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Periods
12 Percent 1
8929 2
1.6901 3
2.4018 4
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