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Instructions Reliable Repairs & Service UNADJUSTED TRIAL BALANCE April 30, 2018 ACCOUNT TITLE DEBIT CREDIT 1 Cash 10,350.00 2 Accounts Receivable 67,500.00 16,200.00 3 Supplies
Instructions Reliable Repairs & Service UNADJUSTED TRIAL BALANCE April 30, 2018 ACCOUNT TITLE DEBIT CREDIT 1 Cash 10,350.00 2 Accounts Receivable 67,500.00 16,200.00 3 Supplies 4 Equipment 5 Accounts Payable 116,100.00 15,750.00 6 Uneared Fees 18,000.00 7 Common Stock 10,000.00 8 Retained Earnings 111,500.00 9 Dividends 13,500.00 294,750.00 94,500.00 10 Fees Earned 11 Wages Expense 12 Rent Expense 13 Utilities Expense 14 Miscellaneous Expense 72,000.00 51,750.00 8,100.00 15 Totals 450,000.00 450,000.00 CHART OF ACCOUNTS Reliable Repairs & Service General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable 13 Supplies 14 Equipment 15 Accumulated Depreciation-Equipment EXPENSES 51 Wages Expense 52 Rent Expense 53 Supplies Expense LIABILITIES 21 Accounts Payable 54 Depreciation Expense 56 Utilities Expense 59 Miscellaneous Expense 22 Wages Payable 23 Unearned Fees EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends Journal Question not attempted Shaded cols have feedback JOURNAL PAGE 10 ACCOUNTING EQUATION Score: 0/126 DATE DESCRIPTION Adjusting Entries POST REY DEAT CREDIT ASSETS LABILITIES EQUITY 30 11 Final Questions 2. Determine the revenues, expenses, and net income of Reliable Repairs & Service before the adjusting entries. Before Adjusting Entries Score: 3/12 1 Revenues 2 Expenses 3 Net income S Points: 0.75/3 Feedback 3. Determine the revenues, expense, and net income of Reliable Repairs & Service after the adjusting entries. After Adjusting Entries Score: 3/12 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 Score: 3/12 1 Revenues 2 Expenses 3 Net income Points: 0.75/3 Feedback 4. Determine the effect of the adjusting entries on Retained Earnings. The Retained Earnings account increases V by $ Points: 1/2 Feedback Instructions Reliable Repairs & Service UNADJUSTED TRIAL BALANCE April 30, 2018 ACCOUNT TITLE DEBIT CREDIT 1 Cash 10,350.00 2 Accounts Receivable 67,500.00 16,200.00 3 Supplies 4 Equipment 5 Accounts Payable 116,100.00 15,750.00 6 Uneared Fees 18,000.00 7 Common Stock 10,000.00 8 Retained Earnings 111,500.00 9 Dividends 13,500.00 294,750.00 94,500.00 10 Fees Earned 11 Wages Expense 12 Rent Expense 13 Utilities Expense 14 Miscellaneous Expense 72,000.00 51,750.00 8,100.00 15 Totals 450,000.00 450,000.00 CHART OF ACCOUNTS Reliable Repairs & Service General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable 13 Supplies 14 Equipment 15 Accumulated Depreciation-Equipment EXPENSES 51 Wages Expense 52 Rent Expense 53 Supplies Expense LIABILITIES 21 Accounts Payable 54 Depreciation Expense 56 Utilities Expense 59 Miscellaneous Expense 22 Wages Payable 23 Unearned Fees EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends Journal Question not attempted Shaded cols have feedback JOURNAL PAGE 10 ACCOUNTING EQUATION Score: 0/126 DATE DESCRIPTION Adjusting Entries POST REY DEAT CREDIT ASSETS LABILITIES EQUITY 30 11 Final Questions 2. Determine the revenues, expenses, and net income of Reliable Repairs & Service before the adjusting entries. Before Adjusting Entries Score: 3/12 1 Revenues 2 Expenses 3 Net income S Points: 0.75/3 Feedback 3. Determine the revenues, expense, and net income of Reliable Repairs & Service after the adjusting entries. After Adjusting Entries Score: 3/12 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 Score: 3/12 1 Revenues 2 Expenses 3 Net income Points: 0.75/3 Feedback 4. Determine the effect of the adjusting entries on Retained Earnings. The Retained Earnings account increases V by $ Points: 1/2 Feedback
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