Based on the Following Trial Balance for Sally's Salon, Prepare

question 195

Essay

Based on the following trial balance for Sally's Salon, prepare an income statement, statement of owner's equity, and a balance sheet. Sally Crawford made no additional investments in the company during the year.
$\begin{array}{c}\text { Sally's Salon}\\\text { Trial Balance}\\\text { December 31}\\.\begin{array}{|l|l|l|}\hline\text { Cash } &\$6,500 \\\hline \text { Accounts receivable } & 475 \\\hline \text { Beauty supplies } & 2,500 \\\hline \text { Beauty shop equipment } & 17,000 \\\hline \text { Accounts payable } &&\$745 \\\hline \text { S. Crawford, Capital } & &21,155\\\hline \text { S. Crawford, Withdrawals } & 36,000 \\\hline \text { Revenue earned } &&72,000\\\hline\end{array}\end{array}$

$$\begin{array} {| l | l |r | } \hline \text { Beauty supplies expense } & 3,425 & \\\hline \text { Rent expense } & 6,000 & \\\hline \text { Wages expense } & & 22,000 \\\hline \text { Totals } & \$ 93,900 & \$ 93,900 \\\hline\end{array}$$

Comprehend the basics of market targeting strategies including mass marketing, niche marketing, and segmentation.

Learn about the strategic approaches to differentiation and cost leadership in marketing.

Gain insights into the importance of meeting customer needs as the core of a marketing strategy.

Identify the elements and importance of a marketing-oriented strategy to a firm’s profitability and competitive advantage.

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Definitions:

Discontinuous Development

A theory of growth wherein individuals go through distinct and separate stages of development, with each stage bringing about different behaviors and abilities.

Genetic Factors

Elements within an organism's genetic makeup that influence its traits, characteristics, and susceptibility to certain conditions.

Piaget

Refers to Jean Piaget, a Swiss psychologist known for his pioneering work in child development, especially his theory of cognitive development.

Construct Understandings

The process of forming mental concepts or models of how the world operates from experiences and information.