Crazy Mountain Outfitters Co., an outfitter store for fishing treks, prepared the following unadjusted trial balance on April 30, 20Y5:

Crazy Mountain Outfitters Co. Unadjusted Trial Balance April 30, 20Y5

Line Item Description	Debit Balances	Credit Balances
Cash	11,400
Accounts Receivable	72,600
Supplies	7,200
Equipment	112,000
Accounts Payable		12,200
Unearned Fees		19,200
Common Stock		20,000
Retained Earnings		117,800
Dividends	10,000
Fees Earned		305,800
Wages Expense	157,800
Rent Expense	55,000
Utilities Expense	42,000
Miscellaneous Expense	7,000
	475,000	475,000

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

Supplies on hand on April 30 were $1,380. Fees earned but unbilled on April 30 were $3,900. Depreciation of equipment was estimated to be $3,000 for the year. Unpaid wages accrued on April 30 were $2,475. The balance in unearned fees represented the April 1 receipt in advance for services to be provided. Only $14,140 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.

Date

Account

Debit

Credit

Apr. 30

30

30

30

30

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

Line Item Description

Amount

Revenues

Expenses

Net income

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

Line Item Description	Amount
Revenues Expenses Net income 4. Determine the effect of the adjusting entries on Retained Earnings. Retained Earnings by $ blank