1 Cash Accounts Receivable Reliable Repairs & Service UNADJUSTED TRIAL BALANCE November 30, 2013 ACCOUNT TITLE DEBIT CREDIT 25.350.00 67.500.00 Supplies Equipment 16.200.00 181,100.00 Accounts Payable Unearned Fees 25.750.00 18.000.00 7 Common Stock 75,000.00 Retained Eamings 111.500.00 Dividends 13.500.00 10 Fees Earned 11 Wages Expense Rent Expense 369.750.00 144.500.00 92.000.00 13 Utilities Expense Miscellaneous Expense 1 Totals $1,750.00 8.100.00 600.000.00 600.000.00 For preparing the adjusting entries, the following data were assembled Fees earned but unbilled on November 30 were $10,500 Supplies on hand on November 30 were $1,175 Depreciation of equipment was estimated to be $9,500 for the year The balance in unearned fees represented the November 1 recept in advance for services to be provided During November, $16,800 of the cervices were provided Unpaid wages accrued on November 30 were $2,400 Required: 1. Journalze the adjusting entries necessary on November 30, 2013 2. Determine the revenues, expenses, and net income of Reliable Repairs & Service before the adjusting entries 3 Determine the revenues, expenses, and net income of Reliable Repairs & Service after the adjusting entres 4 Determine the effect of the aduling entes on Retained Eamings 1. Journalize the adjusting entries necessary on November 30, 2013 General Journal Instructions Question not attempted. DATE DESCRIPTION Adjusting Entries JOURNAL Score: 0/126 POST REF DEBIT CREDIT PAGE 10 ACCOUNTING EQUATION ASSETS LIABILITIES EQUITY Chart of Accounts Final Questions Shaded cells have 2. Determine the revenues, expenses, and net income of Reliable Repairs & Service before the adjusting entries Question not attempted. Revenues Expenses Net income Before Adjusting Entries- Score: 0/11 Feedback Check My Work 2 Remember that Revenue Expenses Net Income (before adjustments) Points 10/3 3. Determine the revenues, expenses, and net income of Rehable Repairs & Service after the adjusting enthes Question not attempted. 1 Revenues Expenses Net income Feedback After Adjusting Entries Score: 0/11 Check My Work 3. Remember that Revenue Expenses hit income (afer an 4. Determine the effect of the adding entes on Retained Earnings Port 1013 Check My Work 2. Remember that Revenue - Expenses = Net Income (before adjustments). Determine the revenues, expenses, and net income of Reliable Repairs & Service after the adjusting entries. Question not attempted. 1 Revenues 2 Expenses 3 Net income After Adjusting Entries Score: 0/11 Feedback Check My Work 3. Remember that Revenue - Expenses Net Income (after adjustments). 4. Determine the effect of the adjusting entries on Retained Earnings. The Retained Earnings account increases by Feedback Points: 0/3 $111,500 X Points 1/2