PR 3-3A Adjusting entries Obj. 2, 3, 4, S Reliable Repairs & Service, an electronics repair store, prepared the following unadjusted trial balance at the end of its first year of operations AL LEDGER Reliable Repairs & Service Unadjusted Trial Balance April 30, 2018 Credit Balances Debit Balances Cash 10,350 67,500 Accounts Receivable. Supplies Equipment.. Accounts Payable Unearned Fees 16,200 116,100 15,750 18,000 Common Stock 10,000 111,500 Retained Earnings Dividends 13,500 Fees Earned. 294,750 Wages Expense Rent Expense Utilities Expense Miscellaneous Expense . 94,500 72,000 51,750 8,100 450,000 450,000 For preparing the adjusting entries, the following data were assembled: Fees earned but unbilled on April 30 were $9,850. Supplies on hand on April 30 were $4,660. Chapter 3 The Adjusting Process 143 Depreciation of equipment was estimated to be $6,470 for the year. The balance in unearned fees represented the April 1 receipt in advance for services to be provided. During April, $15,000 of the services were provided. Unpaid wages accrued on April 30 were $5,200. Instructions 1. Journalize the adjusting entries necessary on April 30, 2018. 2. Determine the revenues, expenses, and net income of Reliable Repairs & Service before the adjusting entries. 3. Determine the revenues, expense, and net income of Reliable Repairs & Service after the adjusting entries. 4. Determine the effect of the adjusting entries on Retained Earnings. Obi 2. 3 A 5 6