Required information The following information applies to the questions displayed below] Val's Hair Emporium operates a hair salon. Its unadjusted trial balance as of December 31, 2018, follows,...

Required information The following information applies to the questions displayed below] Val's Hair Emporium operates a hair salon. Its unadjusted trial balance as of December 31, 2018, follows, along with Information about selected accounts. Account Nanes Debit 4,600 s,100 8,400 Credit Further Infornation Cash As reported on December 31 bank statenent. Based on eount, only $1,700 of aupplies still exist. This anount was paid November 1 for rent through the end of January- This represents the total anount of bills received for supplies and utilities through December 15. Val estinates that the company has received $530 of uti1ity services through December 31 for which it has not yet been billed. Stylists have not yet been paid $100 for their work on Supplies Prepaid Rent Accounts Payable $ 1,900 Salaries and Wages Payable Income Tax Payable December 31. 0 The company has paid last year's income taxes bat not thia year's taxes. This amount was contributed for common stock in prior Common Stock 2,800 years. Retained Earnings Service Revenuer Salaries and Wages Expense ueilities Expense Rent Expense Supplies Expense Income Tax Expense This is the balance reported at thee end of last year. 701 89,200 Customers pay cash vhen they receive services. 29,900 This is the eost of stylisst wages through December 3o. This is the cost of utilities throogh December 15 This year's rent was $2,800 per moath. This is the cost of supplies used throogh November 30. 13,000 28,000 5,600 The company has an average tax rate of 30%. $94,600 Totals $94,600 2. Name the five pairs of balance sheet and income statement accounts that require adjustment and indicate the amount of adjustment for each pair. Balance Sheet Account Adj (1) Supplies (2) Prepaid Rent Related Income Statement Account Amount Supplies Expense Rent Experse Uities Expense Salaries and Wages Expense Income Tax Expense (3) Accounts Payable Salaries and Wages Payable ncome Tax Payable (4) (5) of 8 Next 3 4 5