Question

Scissors Hair Stylists has begun the preparation of its worksheet as​ follows:

Complete Scissors worksheet through the adjusted trial balance section. In the adjustments​ section, mark each adjustment by letter.

a. Office supplies on​ hand, $ 300

b. Depreciation, $ 900

c. Accrued interest​ expense, $ 400.

Scissors Hair Stylists
Worksheet
December 31, 2018
	Unadjusted				Adjusted
	Trial Balance		Adjustments		Trial Balance
Account Names	Debit	Credit	Debit	Credit	Debit	Credit
Cash	$700
Office Supplies	500
Equipment	20,200
Accumulated Depreciation—Equipment		$900
Accounts Payable		500
Interest Payable
Note Payable		3,800
Common Stock		7,200
Service Revenue		12,700
Rent Expense	3,400
Supplies Expense
Depreciation Expense—Equipment
Interest Expense	300
Total	$25,100	$25,100

Answer 1

Solution

Scissors Hair Stylists
Worksheet
December 31, 2018
	Unadjusted				Adjusted
	Trial Balance		Adjustments		Trial Balance
Account Names	Debit	Credit	Debit	Credit	Debit	Credit
Cash	$      700.00				$               700.00
Office Supplies	$      500.00			$            200.00	$               300.00
Equipment	$ 20,200.00				$          20,200.00
Accumulated Depreciation—Equipment		$      900.00		$            900.00		$            1,800.00
Accounts Payable		$      500.00				$               500.00
Interest Payable				$            400.00		$               400.00
Note Payable		$   3,800.00				$            3,800.00
Common Stock		$   7,200.00				$            7,200.00
Service Revenue		$ 12,700.00				$          12,700.00
Rent Expense	$   3,400.00				$            3,400.00
Supplies Expense			$             200.00		$               200.00
Depreciation Expense—Equipment			$             900.00		$               900.00
Interest Expense	$      300.00		$             400.00		$               700.00
Total	$ 25,100.00	$ 25,100.00	$ 1,500.00	$ 1,500.00	$ 26,400.00	$ 26,400.00