Instructions Mibank Repair & Service, an electronics repair store, prepared the following unadjusted trial balance at the end of its first year of operations Mitbank epairs & Service UNADJUSTED TRIAL BALANCE June 30, 2014 CHECIT ACCOUNT TITLE 1 Gash Accounts Receivable DET 10:350.00 67,500.00 16,200.00 Supplies Equipment 166.100.00 Instructions 166,100.00 15,750,00 18,000.00 * Equipment Accounts Payable 6 Uneamed Fees Nancy Townes, Capital # Nancy Townes, Drawing Fees Eamed 171.500.00 13.500.00 294.750.00 94,500.00 72.000.00 10 Wages Expense Rent Expense 12 Utilities Expense Miscellaneous Expense 51.750.00 8100.00 500.000,00 500.000,00 Totals Instructions Chart of Accounts Journal Final Questions Instructions Chart of Accounts CHART OF ACCOUNTS Milbank Repairs & Service General Ledger ASSETS REVENUE 11 Cash 41 Fees Eamed EXPENSES 12 Accounts Receivable 13 Supplies 14 Equipment 15 Accumulated Depreciation Equipment 12 51 Wages Expense 14 52 Rent Expense 53 Supplies Expense 54 Depreciation Expense 56 Utilities Expense LIABILITIES 21 Accounts Payable Instructions Chart of Accounts Journal Final Questions Instructions Chart of Accounts 14 Equipment 15 Accumulated Depreciation Equipment Ji vaye wapens 52 Rent Expense 53 Supplies Expense 54 Depreciation Expense 56 Utilities Expense 59 Miscellaneous Expense LIABILITIES 21 Accounts Payable 22 Wages Payable 23 Unearned Fees 1 EQUITY 31 Nancy Townes, Capital 32 Nancy Townes, Drawing 33 Dividends 13 Adjust Instructions Chat of Account Journal Final Question Instructions Chut of Account Journal Jumate the newyon June 30, 2014 to the chur fans for the wing of the count NOW Ewwyine on a pure is used for det er den NOW will automata credere Question not attempted OL Adres 1 1 Previous Instructions Chart of Accounts Journal Shaded cells have feedback X 1 16 Feedback Cho My Work Instructions Chat of Accounts Journal Shaded ces have feedback 11 Feedback Check My Work 1. Keep in mind that you will be making an sing entry for each of these that wes atleast one income statement account wees and new Casset or Baby) As you go through each of these consider both sides of the transaction than sing entry and consectetur categones of adjusting entesclude prepaid expenses deleted and revenues de revenues actried screen accrued assets) plus the adjustment for depreciation expense Journal Final Questions Shaded cells have feedback 2. Determine the revenues, expenses, and net income of Milbank Repairs & Service before the adjusting entries Question not attempted. Score: 0/11 Before Adjusting Entries 1 Revenues 2 Expenses Expense 3 Net income hd acco conued Points 073 Feedback Check My Work Shaded Cesave Teedback 10 Final Questions 2. Remember that Revenue - Expenses = Net Income (before adjustments) 11 3. Determine the revenues, expenses, and net income of Milbank Repairs & Service after the adjusting entries Question not attempted. Score: 0/11 Alter Adjusting Entries X 1 Revenues CE 2 Expenses 3 Net income Points 0/3 Shaded cells hi Final Questions 111 Points 073 Feedback Check My Work 3. Remember that Revenue - Expenses = Net Income (after adjustments) 4 Determine the effect of the adjusting entries on Nancy Townes, Capital net income by $ The adjusting entries decrease Points 1/2
