Instructions Reliable Repairs & Service, an electronics repair store, prepared the following unadjusted trial balance at the end of its first year of operations: Reliable Repairs & Service UNADJUSTED TRIAL BALANCE April 30, 2018 CREDIT ACCOUNT TITLE DEBIT 1 Cash 9.880.00 2 Accounts Receivable 67.550.00 3 Supplies 16.160.00 Equipment 12.550.00 15.790.00 15 Accounts Payable 6 Unearned Fees 17,600.00 Common Stock 9.500.00 Retained Earnings 112.710.00 Dividends 13,210.00 10 Fees Earned 291,830.00 11 Wages Expense 94,040.00 71,870.00 12 Rent Expense 13 Utilities Expense 14 Miscellaneous Expense 52.130.00 8.040.00 15 Totals 447,430.00 447.430.00 CHART OF ACCOUNTS Reliable Repairs & Service General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable 13 Supplies EXPENSES 51 Wages Expense 14 Equipment 15 Accumulated Depreciation-Equipment 52 Rent Expense 53 Supplies Expense LIABILITIES 54 Depreciation Expense 21 Accounts Payable 56 Utilities Expense 22 Wages Payable 59 Miscellaneous Expense 23 Unearned Fees EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends + Journaite the adjusting entries necessary on Apr 30, 2018. Refer to the Chart of Accounts for exact wording of account the PAGE 10 JOURNAL ACCOUNTING EQLIATION DATE POST REF DERIT CHEET ASSETS LAILM EQUITY DESCRIPTION Adjusting Entries Final Questions 2. Determine the revenues, expenses, and net income of Reliable Repairs & Service before the adjusting entries. Before Adjusting Entries 1 Revenues 2 Expenses 3 Net income 3. Determine the revenues, expense, and net income of Reliable Repairs & Service after the adjusting entries. After Adjusting Entries 1 Revenues 2 Expenses 3 Net income 4. Determine the effect of the adjusting entries on Retained Earnings The Retained Earnings account increases by $ Instructions Reliable Repairs & Service, an electronics repair store, prepared the following unadjusted trial balance at the end of its first year of operations: Reliable Repairs & Service UNADJUSTED TRIAL BALANCE April 30, 2018 CREDIT ACCOUNT TITLE DEBIT 1 Cash 9.880.00 2 Accounts Receivable 67.550.00 3 Supplies 16.160.00 Equipment 12.550.00 15.790.00 15 Accounts Payable 6 Unearned Fees 17,600.00 Common Stock 9.500.00 Retained Earnings 112.710.00 Dividends 13,210.00 10 Fees Earned 291,830.00 11 Wages Expense 94,040.00 71,870.00 12 Rent Expense 13 Utilities Expense 14 Miscellaneous Expense 52.130.00 8.040.00 15 Totals 447,430.00 447.430.00 CHART OF ACCOUNTS Reliable Repairs & Service General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable 13 Supplies EXPENSES 51 Wages Expense 14 Equipment 15 Accumulated Depreciation-Equipment 52 Rent Expense 53 Supplies Expense LIABILITIES 54 Depreciation Expense 21 Accounts Payable 56 Utilities Expense 22 Wages Payable 59 Miscellaneous Expense 23 Unearned Fees EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends + Journaite the adjusting entries necessary on Apr 30, 2018. Refer to the Chart of Accounts for exact wording of account the PAGE 10 JOURNAL ACCOUNTING EQLIATION DATE POST REF DERIT CHEET ASSETS LAILM EQUITY DESCRIPTION Adjusting Entries Final Questions 2. Determine the revenues, expenses, and net income of Reliable Repairs & Service before the adjusting entries. Before Adjusting Entries 1 Revenues 2 Expenses 3 Net income 3. Determine the revenues, expense, and net income of Reliable Repairs & Service after the adjusting entries. After Adjusting Entries 1 Revenues 2 Expenses 3 Net income 4. Determine the effect of the adjusting entries on Retained Earnings The Retained Earnings account increases by $
