Chapter 3

For preparing the adjusting entries, the following data were assembied: - Fees earned but unbilled on zune 30 were $38,980. - Supplies on hand on June 30 were \$7,330. - Deprecation of equipment was estimated to be $12,410 for the vear For prebarng the acjusting entries, the following data were assembled: - Fees earned but unbilled on hune 30 were $8,950. - Supplies on hand on June 30 were $7,330. - Deprecution of equipment was estimuted to be $12,410 for the year: - The balance in unearned fees represented the June 1 recept in advance for servicesto be provided. During June $17,260 of the services was provided - Unpald wages accrued on June 30 were 51,590. Required: 1. Journalize the edsusting entries nectsarv on zune 30,2019 . 2. Determine the revenves, expenses, and ht income of Milbank Repairs a Service before the adjusting entries. 3. Determine the revenues, expenses, and net income of Milbank repairs s. Service after the adjustung entries. 4. Determine the effect of the adjusting entries on Nancy Townes, Capital. Nancy Townes, Capitai 5 by 5