Adjusting entries Reliable Repairs & Service, an electronics repair store, prepared the following unadjusted trial balance at the end of its first year of operations: Reliable Repairs & Service Unadjusted Trial Balance April 30, 2016 Debit Balances Credit Balances

	DebitBalances	CreditBalances
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	10,350
Accounts Receivable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	67,500
Supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	16,200
Equipment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	116,100
Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .		15,750
Unearned Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .		18,000
Common Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .		10,000
Retained Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .		111,500
Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	13,500
Fees Earned. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .		294,750
Wages Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	94,500
Rent Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	72,000
Utilities Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	51,750
Miscellaneous Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	8,100
	450,000	450,000

For preparing the adjusting entries, the following data were assembled: a. Fees earned but unbilled on April 30 were $9,850. b. Supplies on hand on April 30 were $4,660. c. Depreciation of equipment was estimated to be $6,470 for the year. d. The balance in unearned fees represented the April 1 receipt in advance for services to be provided. During April, $15,000 of the services were provided. e. Unpaid wages accrued on April 30 were $5,200. Instructions 1. Journalize the adjusting entries necessary on April 30, 2016. 2. Determine the revenues, expenses, and net income of Reliable Service & Repairs before the adjusting entries. 3. Determine the revenues, expense, and net income of Reliable Service & Repairs after the adjusting entries. 4. Determine the effect of the adjusting entries on Retained Earnings.