Question

125 points Required Information Required: 1. Prepare the preliminary) unad usted net income statement for the year ended December 31, 2015 Vai's Hair Emporium operates a hair salon. Its unadjusted trial balance as of December 31 2015 follows along with information about selected accounts VAL'S HAIR EMPORIUM Unadjusted Income Statement (Preliminary) Credit Account Names Cash Supplies Prepaid Rent Accounts Payable Debit $ 3.400 3.900 4800 Further information As reported on December 31 bank states Based on count only $1,100 of supplies This amount was paid November 1 forre This represents the total amount of bill through December 15. Val estimates tha utility services through December 31 for $ 1,300 0 1600 Stylists have not yet been paid $500 for The company has paid last year's incom This amount was contributed for commo This is the balance reported at the end Customers pay cash when they receive 700 Salaries and Wages Payable Income Tax Payable Common Stock Retained Camings Service Revenue S es and Wages Греле U s Expense Rent Expense 69400 28.700 11800 16.000 This is the cost of stylist wages through This is the cost of utilities through Decer This vear's rent was $1600 er month References eBook & Resources

Answer 1

Unadjusted income statement

Revenue
Service revenue	69400
Total revenue	69400
Expense
Salaries and wages expense	28700
Utilities expense	11800
Rent expense	16000
Total expense	56500
Net income	12900