Crazy Mountain Outfitters Co. Unadjusted Trial Balance April 30, 2014

Debit Balances Credit Balances

Cash..11,400

Accounts Receivble.. 72,600

Supplies......... 7,200

Equipment..112,000

Accounts Payable.... ...................12,200

Unearned Fees.................... 19,200

Capital Stock.... ....................20,000

Retaining 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:

a. Supplies on hand on April 30 were $1,380.

b. Fees earned but unbilled on April 30 were $3,900.

c. Depreciation of equipment was estimated to be $3,000 for the year.

d. Unpaid wages accrued on April 30 were $2,475.

e. 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.

Instructions

1. Journalize the adjusting entries necessary on April 30, 2014.

2. Prepare the T accounts for each and all term affected by the new entries.

3. Prepare an adjusted trial balance.

4. What are the total revenues for the company? $323,840??

5. What are the total expenses for the company? $273,095??

6. What is the net profit or loss for the company? $50,745??

I would like to ensure that my work is correct for each element of the problem. thank you!