Darell Hair Stylists' adjusted trial balance follows. Prepare Darell Hair Stylist's income statement for the year ended December 31, 2025.View the adjusted trial balance.Net Income (Loss)Darell Hair StylistsIncome StatementYear Ended December 31, 2025Adjusted trial balanceDarell Hair StylistsAdjusted Trial BalanceDecember 31, 2025Account TitleCashAccounts ReceivableSuppliesEquipmentAccumulated Depreciation EquipmentAccounts PayableInterest PayableNotes PayableCommon StockDividendsService RevenueRent ExpenseSupplies ExpenseDepreciation Expense-EquipmentInterest ExpenseTotalBalanceDebit7001,30060019,9006505,0003002,5001,30032,250 $Credit-2,5009508003,50011,00013,50032,250X

The income statement is one of the important financial statement of the business. It tells about the…

Net Income (Loss) Darell Hair Stylists Income Statement Year Ended December 31, 2025 Account Title Cash Darell Hair Stylists Adjusted Trial Balance December 31, 2025 Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Interest Payable Notes Payable Common Stock Dividends Service Revenue Rent Expense Supplies Expense Depreciation Expense-Equipment Interest Expense Total $ $ Balance Debit 700 1,300 600 19,900 650 $ 5,000 300 2,500 1,300 32,250 $ Credit 2,500 950 800 3,500 11,000 13,500 32,250

Net Income (Loss) Darell Hair Stylists Income Statement Year Ended December 31, 2025 Account Title Cash Darell Hair Stylists Adjusted Trial Balance December 31, 2025 Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Interest Payable Notes Payable Common Stock Dividends Service Revenue Rent Expense Supplies Expense Depreciation Expense-Equipment Interest Expense Total $ $ Balance Debit 700 1,300 600 19,900 650 $ 5,000 300 2,500 1,300 32,250 $ Credit 2,500 950 800 3,500 11,000 13,500 32,250

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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