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Crazy Mountain Outfitters Co. Unadjusted Trial Balance December 31, 2015 Debit Balances Credit Balances Cash 14,030 Accounts Receivable 93,140 Supplies 22,440 Equipment 479,560 Accum Deprec
Crazy Mountain Outfitters Co. Unadjusted Trial Balance December 31, 2015 Debit Balances Credit Balances Cash 14,030 Accounts Receivable 93,140 Supplies 22,440 Equipment 479,560 Accum Deprec 0 Accounts Payable 21,880 0 Wages payable 24,690 Unearned Fees Common Stock 55,000 Retained Earnings 277,000 Dividends 18,520 Fees Earned 561,080 Wages Expense 130,170 99,310 Rent Expense Supplies Expense Depreciation Expense 0 0 71,260 Utilities Expense Miscellaneous Expense 11,220 939,650 939,650 1. For preparing the 5 adjusting entries, the following data were assembled: a. Supplies on hand on December 31 were $8,290. b. Fees earned but unbilled on December 31 were $10,160. c. Depreciation of equipment was estimated to be $14,030 for the year. d. Unpaid wages accrued on December 31 were $1,800. e. The balance in unearned fees represented the Jan 1 receipt in advance for services to be provided. Only $19,510 of the services was provided between Jan 1 and Dec 31. 2. Determine the revenues, expenses, and net income of Crazy Mountain Outfitters Co. before the adjusting entries. $ $ Revenue Expenses Net income 3. Determine the revenues, expenses, and net income of Crazy Mountain Outfitters Co. after the adjusting entries. $ Revenue Expenses Net income $
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