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Calculelor Print Item Adjusting Entries Crazy Mountain Outfitters Co., an outfitter store for fishing treks, prepared the following unadjusted trial balance at the end of
Calculelor Print Item Adjusting Entries Crazy Mountain Outfitters Co., an outfitter store for fishing treks, prepared the following unadjusted trial balance at the end of its first year of operations: Crazy Mountain Outfitters Co. Unadjusted Trial Balance April 30, 2015 Credit Debit Balances Balances Cash 13,240 Accounts Receivable Supplies 87,940 21,190 447.330 Equipment Accounts Payable Unearned Fees 20,660 23,310 55,000 253,000 Common Stock Retained Earnings Dividends 17.480 529,760 Fees Eamed Wages Expense Rent Expense Utilities Expense 122,900 93,770 67,280 E UP W Calculator Printem Miscellaneous Expense 10,600 881.730 881,730 For preparing the adjusting entries, the following data were assembled: Supplies on hand on April 30 were $7,820. Fees earned but unbilled on April 30 were $9.590. Depreciation of equipment was estimated to be $13,240 for the year. Unpaid wages accrued on April 30 were $1,690. The balance in uneared fees represented the April 1 receipt in advance for services to be provided. Only $18.410 of the services was provided between April 1 and April 30. Required: 1. Journalize the adjusting entries necessary on April 30, 2015. If an amount box does not require an entry leave it blank. Apr. 30 O DO II 2. Determine the revenues, expenses, and net income of Crazy Mountain Outfitters Co. before the adjusting entries. Revenues Expenses Net income 3. Determine the revenues, expenses, and net income of Crazy Mountain Outfitters Co. after the adjusting entries. Revenues Expenses Net income 4. Determine the effect of the adjusting entries on Retained Earnings. Retained Earnings
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