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Subject: Accounting c) The adjusted trial balance of Brothers Salon for the year ended...

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Accounting

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Subject: Accounting

c) The adjusted trial balance of Brothers Salon for the year ended December 31, 2020, is as follow: Brothers' Salon Adjusted Trial Balance December 31, 2020 Account Titles Dr. Cr. Account Titles Dr. Cr. (Tk.) (Tk.) (Tk.) (Tk.) Cash 2,20,000 Owner's capital 2,04,000 Accounts receivable 55,000 Owner's drawings 14,000 Long term investment 30000 Goodwill 40000 in shares Accounts payable 40,000 Prepaid salaries and wages 12,000 Equipment 2,00,000 Utilities payable 12,500 Accumulated 33,500 Service revenue 2,30,000 depreciation-equipment Utilities expenses 12,500 Notes payable 144,000 Advertising expenses 10,500 Depreciation expense 20,000 Supplies 15,000 Salaries and Wages 35,000 Expenses Instructions: i. Prepare an income statement, owner's equity statement for the year ended December 31, 2020. (03] ii. Prepare a classified balance sheet on December 31, 2020; assuming only Tk. 54,000 of the notes payable is payable within the next one year. [03]

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