Adjusting Entries Selected account balances before adjustment for Intuit Realty at November 30, the end of the current year, follow: Debits Credits Accounts Receivable Equipment Accumulated Depreciation-Equipment $75,000 250,000 $12,000 Prepaid Rent 12,000 3,170 Supplies Wages Payable Unearned Fees Fees Earned 10,000 400,000 Wages Expense 140,000 Rent Expense Depreciation Expense Supplies Expense Data needed for year-end adjustments are as follows: Supplies on hand at November 30, $550. Depreciation of equipment during year, $1,675. Rent expired during year, $8,500. Wages accrued but not paid at November 30, $2,000. Unearned fees at November 30, $4,000. Unbilled fees at November 30, $5,380. Required: 1. Journalize the six adjusting entries required at November 30, based on the data presented. If an amount box does not require Und year, $1,675. Rent expired during year, $8,500. Wages accrued but not paid at November 30, $2,000. Unearned fees at November 30, $4,000. Unbilled fees at November 30, $5,380. Fequired: - Journalize the six adjusting entries required at November 30, based on the data presented. If an amount box does not require an entry, leave it blank. Nov. 30 Supplies Expense 2,620 Supplies 2,620 30 Depreciation Expense 11,675 Accumulated Depreciation-Equipment 1,675 30 Rent Expense 8,500 Prepaid Rent 8,500 30 Wages Expense D D DU D DU I 2,000 Wages Payable 2,000 30 Unearned Fees 6,000 Fees Earned 6,000 30 Accounts Receivable 5,380 Fees Earned 5,380 2. What would be the effect on the income statement if the adjustments for equipment depreciation and unearned fees were omitted at the end of the year? Enter all amounts as positive numbers. Fees earned understated by S Depreciation expense understated understated by by s Net Income 3. What would be the effect on the balance sheet if the adjustments for equipment depreciation and unearned fees were omitted at the end of the year? Enter all amounts as positive numbers Accumulated depreciation understated by Total assets overstated by $ Unearned fees overstated Total abilities overstated by by $ by Retained earnings understated Total liabilities and stockholders' equity overstated by $ What will be the first on the Net Inces or decrease in cash" on the statement of cash flows if the adjustments for equipment depreciation and unearned fees were omitted at the end of the