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

Line Item Description	Debit Balances	Credit Balances
Cash	14,530
Accounts Receivable	96,470
Supplies	23,250
Equipment	486,840
Accounts Payable		22,670
Unearned Fees		25,570
Common Stock		55,000
Retained Earnings		279,000
Dividends	19,180
Fees Earned		581,160
Wages Expense	134,830
Rent Expense	102,870
Utilities Expense	73,810
Miscellaneous Expense	11,620
	963,400	963,400

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

Supplies on hand on April 30 were $8,590. Fees earned but unbilled on April 30 were $10,520. Depreciation of equipment was estimated to be $14,530 for the year. Unpaid wages accrued on April 30 were $1,860. The balance in unearned fees represented the April 1 receipt in advance for services to be provided. Only $20,200 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	Accounts PayableCashSuppliesSupplies ExpenseSupplies PayableSupplies Expense	Supplies Expense	Supplies Expense
	Accounts PayableCashSuppliesSupplies ExpenseSupplies PayableSupplies	Supplies	Supplies
30	Accounts PayableAccounts ReceivableFees EarnedFees ExpenseUnearned FeesAccounts Receivable	Accounts Receivable	Accounts Receivable
	Accounts PayableAccounts ReceivableFees EarnedFees ExpenseUnearned FeesFees Earned	Fees Earned	Fees Earned
30	Accounts PayableAccumulated Depreciation-EquipmentDepreciation ExpenseDepreciation PayableEquipmentDepreciation Expense	Depreciation Expense	Depreciation Expense
	Accounts PayableAccumulated Depreciation-EquipmentDepreciation ExpenseDepreciation PayableEquipmentAccumulated Depreciation-Equipment	Accumulated Depreciation-Equipment	Accumulated Depreciation-Equipment
30	Accounts PayableCashWages ExpenseWages PayableWages ReceivableWages Expense	Wages Expense	Wages Expense
	Accounts PayableCashWages ExpenseWages PayableWages ReceivableWages Payable	Wages Payable	Wages Payable
30	Accounts PayableFees EarnedFees ExpenseFees PayableUnearned FeesUnearned Fees	Unearned Fees	Unearned Fees
	Accounts PayableFees EarnedFees ExpenseFees PayableUnearned FeesFees Earned	Fees Earned	Fees Earned

Question Content Area

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

Line Item Description	Amount
Revenues	fill in the blank 1 of 7$
Expenses	fill in the blank 2 of 7
Net income	fill in the blank 3 of 7$

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

Line Item Description	Amount
Revenues	fill in the blank 4 of 7$
Expenses	fill in the blank 5 of 7
Net income	fill in the blank 6 of 7$

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

decreasesincreasesdecreases

by fill in the blank 7 of 7$.