Account Names Cash Office Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Interest Payable Note Payable Farm, Capital Service Revenue Rent Expense Supplies Expense Depreciation Expense-Equipment Interest Expense Total $ Unadjusted Trial Balance Debit 800 900 14,400 Credit $ 700 300 3,900 4,000 12,700 4,800 700 21,600 $ 21,600 Adjustments Debit Credit 300 More info a. Office supplies on hand, $300. b. Depreciation, $700. c. Accrued interest expense, $800. Print Done X

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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### Cut Your Locks Hair Stylists Worksheet
#### December 31, 2024

---

#### Unadjusted Trial Balance and Adjustments

| **Account Names**                        | **Debit** | **Credit** | **Debit (Adjustments)** | **Credit (Adjustments)** |
|------------------------------------------|-----------|------------|-------------------------|--------------------------|
| Cash                                     | $800      |            |                         |                          |
| Office Supplies                          | $900      |            |                         | $300                     |
| Equipment                                | $14,400   |            |                         |                          |
| Accumulated Depreciation—Equipment       |           | $700       |                         |                          |
| Accounts Payable                         |           | $300       |                         |                          |
| Interest Payable                         |           |            |                         |                          |
| Note Payable                             |           | $3,900     |                         |                          |
| Farm, Capital                            |           | $4,000     |                         |                          |
| Service Revenue                          |           | $12,700    |                         |                          |
| Rent Expense                             | $4,800    |            |                         |                          |
| Supplies Expense                         |           |            |                         |                          |
| Depreciation Expense—Equipment           |           |            |                         |                          |
| Interest Expense                         | $700      |            |                         |                          |
| **Total**                                | **$21,600**| **$21,600** |                         |                          |

---

### Additional Information:
- **a.** Office supplies on hand: $300.
- **b.** Depreciation: $700.
- **c.** Accrued interest expense: $800.

This worksheet provides a structured view of Cut Your Locks Hair Stylists' unadjusted trial balance and includes slots for recording necessary adjustments. Adjustments are made based on additional information provided (office supplies on hand, depreciation, and accrued interest expense). It is crucial for accounting students and professionals to understand how to update unadjusted trial balances with these adjustments to accurately reflect the financial position of a business.
Transcribed Image Text:### Cut Your Locks Hair Stylists Worksheet #### December 31, 2024 --- #### Unadjusted Trial Balance and Adjustments | **Account Names** | **Debit** | **Credit** | **Debit (Adjustments)** | **Credit (Adjustments)** | |------------------------------------------|-----------|------------|-------------------------|--------------------------| | Cash | $800 | | | | | Office Supplies | $900 | | | $300 | | Equipment | $14,400 | | | | | Accumulated Depreciation—Equipment | | $700 | | | | Accounts Payable | | $300 | | | | Interest Payable | | | | | | Note Payable | | $3,900 | | | | Farm, Capital | | $4,000 | | | | Service Revenue | | $12,700 | | | | Rent Expense | $4,800 | | | | | Supplies Expense | | | | | | Depreciation Expense—Equipment | | | | | | Interest Expense | $700 | | | | | **Total** | **$21,600**| **$21,600** | | | --- ### Additional Information: - **a.** Office supplies on hand: $300. - **b.** Depreciation: $700. - **c.** Accrued interest expense: $800. This worksheet provides a structured view of Cut Your Locks Hair Stylists' unadjusted trial balance and includes slots for recording necessary adjustments. Adjustments are made based on additional information provided (office supplies on hand, depreciation, and accrued interest expense). It is crucial for accounting students and professionals to understand how to update unadjusted trial balances with these adjustments to accurately reflect the financial position of a business.
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