Adjusting entries Instructions Chart of Accounts Journal Final Questions Instructions Selected account balances before adjustment for Atlantic Coast Realty at July 31, the end of the current year, are as folle Accounts Receivable Equipment Accumulated Depreciation-Equipment Prepaid Rent Supplies Wages Payable Unearned Fees Fees Earned Wages Expense Rent Expense Depreciation Expense Supplies Expense Debits Credits $ 73,000 345,500 $123,300 9,350 3,450 11,200 679,000 327,900 Adjusting entries Instructions Chart of Accounts Journal Final Questions Instructions Data needed for year-end adjustments are as follows: . Unbilled fees at July 31, $11,800. Supplies on hand at July 31, $1,000. Rent expired, $5,900. Depreciation of equipment during year, $9,050. Unearned fees at July 31, $2,460. Wages accrued but not paid at July 31, $4,950. Required: 1. Journalize the six adjusting entries required at July 31, based on the data presented. Refer to the Chart of Accounts for exact wording of account titles. 2. What would be the effect on the income statement if the adjustments for unbilled fees and accrued wages were omitted at the end of the year? 3. What would be the effect on the balance sheet if the adjustments for unbilled fees and accrued wages were omitted at the end of the year? 4. What would be the effect on the "Net increase or decrease in cash" on the statement of cash flows if the adjustments for unbilled fees Chart of Accounts ASSETS 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Rent 15 Land 16 Equipment 17 Accumulated Depreciation-Equipment LIABILITIES 21 Accounts Payable 22 Unearned Fees 23 Wages Payable 24 Taxes Payable REVENUE 41 Fees Earned 42 Rent Revenue EXPENSES 51 Advertising Expense 52 Insurance Expense 53 Rent Expense 54 Wages Expense 55 Supplies Expense 56 Utilities Expense 57 Depreciation Expense 59 Miscellaneous Expense