Selected account balances before adfustrment for Astantic Coast Realty at Juy 31 , the end of the current year, are as follows 2. What would be the effect on the income statement if the adfustrients for unbiled fees and accrued wages were omited at the end of the ywar? 3. What would be the effect on the balance sheet if the adjustrents for unbiled fees and accrued wages were omitied at the end of the year? 1. doumalie the six adfusting entries requitied at duy 3f, based on the data preseniled. Atjusting entries Onan of Actounts: Cather of ACCOunts Niertie Coms thandy cinerel intore Assets 13 sepples 14 Fread Firm 15 Lund 16 Eouchist nevenue et fratinet e Rertinero Doveses: s bienterer 80 354 E R T Y u 8 Data needed for year-end adputments we an folows. - Unbilled fees at Jay 31, 510,660. - Supples on hand at Juy 31.31,100. - Aent expired, \$6,350. - Deoreciation of equpment durve yea, s8 sso - Uneamed fees at July 31, \$2,120. - Wages accrued but not paid at Jur 31, \$4:ave end of the year? Adjusting entries Instructions Chart of Accounts Eeneral joumal Final Questions Chart of Accounts 17 Accumulated Depreciation-Equipment 53 Rent Expense 54 Wages Expense LIABILITIES 55 Supplies Expense 21 Accounts Payable 56 Utilities Expense 22 Unearned Fees 57 Depreciation Expense 23 Wages Payable 59 Miscellaneous Expense 24 Taxes Payable EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends - Supplies on hand at July 31,$1,100. - Pent expired, $6,350. - Depreciation of equipment during year, $8,550. - Unearned teos at July 31,$2,120. - Wages accrued but not paid at July 31, $4,890. Required: 1. Joumalize the six adjusting entries required at July 31 , based on the data presented. 2. What would be the effect on the income statement if the acfustments for unbilled foes and accrued wages were omitfed at the end of the year? 3. What would be the effect on the balance sheef if the adjustments for unbilled fees and accrued wages were omitted at the end of the year? 4. What would be the effect on the "Not increase or decrease in cash" on the statement of cash flows if the adfustments for unbilled fees and accred wages were omifted at the end of the year