Instructions Mibank Repairs & Service, an electronics repair store, prepared the following unadjusted trial balance at the end of its first year of operations: Milbank Repairs a Service UNADJUSTED TRIAL BALANCE June 30, 2014 ACCOUNT TITLE DEBIT CREDIT 1 Cash 10,150.00 2 Accounts Receivable 67,550.00 16590.00 112 610.00 15540.00 18.360.00 12065000 Supplies Equipment Accounts Payable Uneamed Fees Nancy Townes, Capital Nancy Townes Drawing Fees Earned Wages Expense Rent Expense Utilities Expense Miscellaneous Experte 13,54000 29175000 94,050,00 7212000 51750.00 14 Totals 7,960,00 446,300.00 446.50000 1. Jumatre the adjusting entries necessary on June 30, 2014. Hofer to the chart of accounts for the exact wording of the accounties. CNOW formas do not use Ines for journal explorations. Every ine on a journal page is used for debitor credit entries. CNOW Xoumals will automatically indent a crede entry when a credit amount is entered INGE 10 JOURNAL ACCOUNTING EQUATION TE DEKRIPTION POST RER DERIT CREDIT ASSETS LALTIES EQUITY Adjusting Entries bumalze e fusting entries recessary on June 30, 2015 Refer to the chart al accounts for the exact wording or the accounts CNOW Final Questions 2. Determine the revenues, expenses, and net income of Milbank Repairs & Service before the adjusting entries. Before Adjusting Entries 1 Revenues 2 Expenses 3 Net income 3. Determine the revenues, expenses, and net income of Milbank Repairs & Service after the adjusting entries. After Adjusting Entries 1 Revenues * Expenses 3 Net income 4. Determine the effect of the adjusting entries on Nancy Townes, Capital The adjusting entries net income by voumaze me ajusung ennes necessary or June 30, 2UY Herer to rear Instructions Mibank Repairs & Service, an electronics repair store, prepared the following unadjusted trial balance at the end of its first year of operations: Milbank Repairs a Service UNADJUSTED TRIAL BALANCE June 30, 2014 ACCOUNT TITLE DEBIT CREDIT 1 Cash 10,150.00 2 Accounts Receivable 67,550.00 16590.00 112 610.00 15540.00 18.360.00 12065000 Supplies Equipment Accounts Payable Uneamed Fees Nancy Townes, Capital Nancy Townes Drawing Fees Earned Wages Expense Rent Expense Utilities Expense Miscellaneous Experte 13,54000 29175000 94,050,00 7212000 51750.00 14 Totals 7,960,00 446,300.00 446.50000 1. Jumatre the adjusting entries necessary on June 30, 2014. Hofer to the chart of accounts for the exact wording of the accounties. CNOW formas do not use Ines for journal explorations. Every ine on a journal page is used for debitor credit entries. CNOW Xoumals will automatically indent a crede entry when a credit amount is entered INGE 10 JOURNAL ACCOUNTING EQUATION TE DEKRIPTION POST RER DERIT CREDIT ASSETS LALTIES EQUITY Adjusting Entries bumalze e fusting entries recessary on June 30, 2015 Refer to the chart al accounts for the exact wording or the accounts CNOW Final Questions 2. Determine the revenues, expenses, and net income of Milbank Repairs & Service before the adjusting entries. Before Adjusting Entries 1 Revenues 2 Expenses 3 Net income 3. Determine the revenues, expenses, and net income of Milbank Repairs & Service after the adjusting entries. After Adjusting Entries 1 Revenues * Expenses 3 Net income 4. Determine the effect of the adjusting entries on Nancy Townes, Capital The adjusting entries net income by voumaze me ajusung ennes necessary or June 30, 2UY Herer to rear