The trial balance shown below summarises the year’s activities for C. Hare's Hairdressing Salon.

The following additional information should be considered.
1.      Inventory of hairdressing supplies on hand at 30 June is \($12\) 900; \($1900\) office supplies are on hand.
2.     Depreciate equipment at the rate of 12% p.a. on cost (\($407\) 800).
3.     Rent of \($3900\) has been paid in advance and has been debited to rent expense.
4.     Wages earned by the hairdressing assistants but unpaid, \($1300\).
Required
(a) Journalise the adjusting entries.
(b) Journalise the closing entries.
(c) Prepare an income statement, a statement of changes in equity and a balance sheet.
(d) Journalise the reversing entries (if any).

Transcribed Image Text:

C.HARE, HAIRDRESSING SALON Unadjusted trial balance as at 30 June 2025 Account Cash at bank Fees revenue Accounts receivable Equipment Debit Credit $35 800 $478 400 43 900 407 800 Accumulated depreciation-equipment 129 400 Hairdressing supplies 111 400 Office supplies 6 300 C. Hare, capital 280 500 C. Hare, drawings 62 700 Accounts payable 15 700 Wages expense Rent expense 111 400 51 000