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, 20Y5
	Debit Balances		Credit Balances
Cash	12,920
Accounts Receivable	85,790
Supplies	20,670
Equipment	432,910
Accounts Payable			20,150
Unearned Fees			22,740
Common Stock			55,000
Retained Earnings			242,000
Dividends	17,050
Fees Earned			516,780
Wages Expense	119,890
Rent Expense	91,470
Utilities Expense	65,630
Miscellaneous Expense	10,340
	856,670		856,670

For preparing the adjusting entries, the following data were assembled:

Supplies on hand on April 30 were $7,640.

Fees earned but unbilled on April 30 were $9,350.

Depreciation of equipment was estimated to be $12,920 for the year.

Unpaid wages accrued on April 30 were $1,650.

The balance in unearned fees represented the April 1 receipt in advance for services to be provided. Only $17,960 of the services was provided between April 1 and April 30.

Required:

Question Content Area

1. Journalize the adjusting entries necessary on April 30, 20Y5. If an amount box does not require an entry, leave it blank.

Apr. 30	Accounts PayableCashSuppliesSupplies ExpenseSupplies PayableSupplies ReceivableSupplies Revenue	- Select -	- Select -
	Accounts PayableCashSuppliesSupplies ExpenseSupplies PayableSupplies ReceivableSupplies Revenue	- Select -	- Select -
30	Accounts PayableAccounts ReceivableCashFees EarnedFees ExpenseFees PayableUnearned Fees	- Select -	- Select -
	Accounts PayableAccounts ReceivableCashFees EarnedFees ExpenseFees PayableUnearned Fees	- Select -	- Select -
30	Accounts PayableAccumulated Depreciation-EquipmentDepreciation ExpenseDepreciation PayableEquipmentEquipment ExpenseEquipment Payable	- Select -	- Select -
	Accounts PayableAccumulated Depreciation-EquipmentDepreciation ExpenseDepreciation PayableEquipmentEquipment ExpenseEquipment Payable	- Select -	- Select -
30	Accounts PayableCashPrepaid WagesWages ExpenseWages PayableWages ReceivableWages Revenue	- Select -	- Select -
	Accounts PayableCashPrepaid WagesWages ExpenseWages PayableWages ReceivableWages Revenue	- Select -	- Select -
30	Accounts PayableCashFees EarnedFees ExpenseFees PayableUnearned FeesUnearned Receivable	- Select -	- Select -
	Accounts PayableAccounts ReceivableCashFees EarnedFees ExpenseFees PayableUnearned Fees	- Select -	- Select -

Question Content Area

2. Determine the revenues, expenses, and net income of Crazy Mountain Outfitters Co. before the adjusting entries.

Revenues	$fill in the blank f9d3cffd006b070_1
Expenses	fill in the blank f9d3cffd006b070_2
Net income	$fill in the blank f9d3cffd006b070_3

3. Determine the revenues, expenses, and net income of Crazy Mountain Outfitters Co. after the adjusting entries.

Revenues	$fill in the blank f9d3cffd006b070_4
Expenses	fill in the blank f9d3cffd006b070_5
Net income	$fill in the blank f9d3cffd006b070_6

4. Determine the effect of the adjusting entries on Retained Earnings. Retained Earnings

decreasesincreases

by $fill in the blank f9d3cffd006b070_8.