Based on the Following Trial Balance for Sally's Salon,prepare an Income

question 122

Essay

Based on the following trial balance for Sally's Salon,prepare an income statement,statement of retained earnings,and a balance sheet.Sally Crawford,the sole stockholder,made no additional investments in the company during the year.
$\begin{array}{c} \text { Sally's Salon}\\ \text { Trial Balance}\\ \text { December 31}\\\begin{array}{|l|r|r|}\hline \text { Cash } & \$ 6,500 \\\hline \text { Accounts receivable } & 475 \\\hline \text { Beauty supplies } & 2,500 \\\hline \text { Beauty shop equipment } & 17,00 \\\hline \text { Accounts payable } & & \$ 745 \\\hline \text { Common Stock } & & 21,155 \\\hline \text { Dividends } & 36,000 & \\\hline \text { Revenue earned } & & 72,000 \\\hline \text { Beauty supplies expense } & 3,429 & \\\hline \text { Rent expense } & 6,000 & \\\hline \text { Wages expense } & 22,000 & \\\hline \text { Totals } & \$ 93,900 & \$ 93,900 \\\hline \end{array}\end{array}$

Describe various techniques used in social engineering and their impact.

Understand the processes and tools used in securing digital information and combating cybercrimes.

Distinguish between different security software and their purposes.

Understand the significance of multi-factor authentication in enhancing security.

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Definitions:

Interest

The charge for borrowing money, usually expressed as a percentage of the amount borrowed.

Forbidden

Something that is not allowed or is prohibited.

Present Value

The assessed current worth of a future money amount or cash flow series, using an established rate of return.

Interest Rate

The cost of borrowing money, often expressed as a percentage of the amount lent.