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I provided all the work and I attcahed the questions, I need help with question 2 and question 3, and question 4. Please provide the
I provided all the work and I attcahed the questions, I need help with question 2 and question 3, and question 4. Please provide the steps
Milbank Repairs \& Service, an electronics repair store, prepared the following unadjusted trial balance at the end of its first year of operations: Instructions \begin{tabular}{|r|l|r|r|} \hline 8 & Nancy Townes, Drawing & 13,540.00 & \\ \hline 9 & Fees Earned & & 291,750.00 \\ \hline 10 & Wages Expense & 94,050.00 & \\ \hline 11 & Rent Expense & 72,120.00 & \\ \hline 12 & Utilities Expense & 51,730.00 & \\ \hline 13 & Miscellaneous Expense & 7,960.00 & \\ \hline 14 & Totals & 446,300.00 & 446,300.00 \\ \hline & & & \\ \hline \end{tabular} r preparing the adjusting entries, the following data were assembled: - Fees earned but unbilled on June 30 were $10,310. - Supplies on hand on June 30 were $4,550. - Depreciation of equipment was estimated to be $6,180 for the year. - The balance in unearned fees represented the June 1 receipt in advance for services to be provided. During June, $15,030 of the services were provided. - Unpaid wages accrued on June 30 were $5.070. Required: 1. Joumalize the adjusting entries necessary on June 30,20Y4. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for joumat explanations. Every line on a joumal page is used for dobit or credit entries. CNOW joumals will automatically indent a credit entry when a credit amount is entered. 2. Determine the revenues, expenses, and net income of Mibank Repairs & Service before the adjusting entries. 3. Determine the revenues, expenses, and net income of Mabank Repairs & Service after the adjusting entries. 4. Determine the effect of the adjusting entries on Nancy Townes, Capitat. 1. Journalize the adjusting entries using the following additional accounts: Salaries and Wages Payable, Rent Revenue, Insurance Expense Building. Depreciation Expense-Equipment and Supplies Expense. Refer to the chart of accounts for the exact wording of the account title lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a cred entered. How does srading work? Instructions 2. Determine the revenues, expenses, and net income of Milbank Repairs \& Service before the adjusting entries. 3. Determine the revenues, expenses, and net income of Milbank Repairs \& Service after the adjusting entries. Ouestion not attempted. 3. Remember that Revenue - Expenses = Net Income (after adjustments). 4. Determine the effect of the adjusting entries on Nancy Townes, Capital. The adjusting entries net income by Step by Step Solution
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