Daniel Hair Stylists's adjusted trial balance and statement of owner's equity follow. (Click on...

50.1K

Verified Solution

Question

Accounting

imageimageimage

Daniel Hair Stylists's adjusted trial balance and statement of owner's equity follow. (Click on the icon to view the adjusted trial balance.) (Click on the icon to view the statement of owner's equity.) Prepare Daniel's unclassifed balance sheet at December 31, 2024. Use the account form. Daniel Hair Stylists Adjusted Trial Balance December 31, 2024 \begin{tabular}{|c|c|c|c|} \hline \multirow{3}{*}{\begin{tabular}{l} Account Title \\ Cash \end{tabular}} & \multicolumn{3}{|c|}{ Balance } \\ \hline & \multicolumn{2}{|c|}{ Debit } & \multirow[t]{2}{*}{ Credit } \\ \hline & $ & 1,100 & \\ \hline Accounts Receivable & & 2,000 & \\ \hline Office Supplies & & 900 & \\ \hline Equipment & & 20,100 & \\ \hline Accumulated Depreciation-Equipment & & $ & 2,000 \\ \hline Accounts Payable & & & 500 \\ \hline Interest Payable & & & 1,000 \\ \hline Notes Payable & & & 3,900 \\ \hline Daniel, Capital & & & 11,600 \\ \hline Daniel, Withdrawals & & 700 & \\ \hline Service Revenue & & & 15,900 \\ \hline Rent Expense & & 4,900 & \\ \hline Supplies Expense & & 300 & \\ \hline Depreciation Expense-Equipment & & 2,000 & \\ \hline Interest Expense & & 2,900 & \\ \hline Total & $ & 34,900$ & 34,900 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline \begin{tabular}{l} Daniel Hair Stylists \\ Statement of Owner's Equity \\ Year Ended December 31, 2024 \end{tabular} & & \\ \hline Daniel, Capital, January 1, 2024 & $ & 11,600 \\ \hline Net income for the year & & 5,800 \\ \hline Owner withdrawal & $ & \begin{tabular}{r} 17,400 \\ (700) \\ \end{tabular} \\ \hline Daniel, Capital, December 31, 2024 & $ & 16,700 \\ \hline \end{tabular}

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students