Selected account balances before adjustment for Atlantic Coast Realty at July 31 , the end of the current vear. are as follows: Chart of Accounts CHART OF ACCOUNTS Atlantic Coast Realty General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Rent 15 Land 16 Equipment 17 Accumulated Depreciation-Equipment Data needed for year-end adjustments are as follows: - Unbilled fees at July 31, $10,250. - Supplies on hand at July 31,$930. - Rent expired $5,800 - Depreciation of equipment during year, $8,750. - Unearned fees at July 31, $2,100. - Wages accrued but not paid at July 31, $4,900. Required: LIABILITIES 21 Accounts Payable 22 Unearned Fees 23 Wages Payable 24 Taxes Payable account titles. CNOW journais do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries CNOW joumals will automatically indent a credit entry when a credit amount is entered. 2. What would be the effect on the income statement if the adjustments for unbilled fees and accrued wages were omitted at the end of the year? 3. What would be the effect on the balance sheet 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 "Net increase or decrease in cash" on the statement of cash flows if the adjustments for unbilled fees and accrued wages were omitted at the end of the year? 2. What wouli be the effect on the income statement it the adjustments for unbilled fees and accrued wages were omitted at the end of the year? REVENUE 3. What woulo be the effect on the balance sheet if the adjustments for unbilled fees and accrued wages were omitted at the end of the year? 42 Rent Revenue EXPENSES 51 Advertising Exper 52 Insurance Expens 53 Rent Expense 54 Wages Expense 56 Utilites Expense 57 Depreciation Exp 59 Miscellaneous Ex 4 What would be the effect on the "Net vicrease ordecrease in cash" on the statement of cash flows if the adjustments for unbilled fees and accrued wages were omitted at the end of the jear? 21+32 cou cred EQUITY 31 Owner's Equity CESCFIPTOH DEBIT CT ASSETS LABILTIES ERUITY Selected account balances before adjustment for Atlantic Coast Realty at July 31 , the end of the current vear. are as follows: Chart of Accounts CHART OF ACCOUNTS Atlantic Coast Realty General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Rent 15 Land 16 Equipment 17 Accumulated Depreciation-Equipment Data needed for year-end adjustments are as follows: - Unbilled fees at July 31, $10,250. - Supplies on hand at July 31,$930. - Rent expired $5,800 - Depreciation of equipment during year, $8,750. - Unearned fees at July 31, $2,100. - Wages accrued but not paid at July 31, $4,900. Required: LIABILITIES 21 Accounts Payable 22 Unearned Fees 23 Wages Payable 24 Taxes Payable account titles. CNOW journais do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries CNOW joumals will automatically indent a credit entry when a credit amount is entered. 2. What would be the effect on the income statement if the adjustments for unbilled fees and accrued wages were omitted at the end of the year? 3. What would be the effect on the balance sheet 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 "Net increase or decrease in cash" on the statement of cash flows if the adjustments for unbilled fees and accrued wages were omitted at the end of the year? 2. What wouli be the effect on the income statement it the adjustments for unbilled fees and accrued wages were omitted at the end of the year? REVENUE 3. What woulo be the effect on the balance sheet if the adjustments for unbilled fees and accrued wages were omitted at the end of the year? 42 Rent Revenue EXPENSES 51 Advertising Exper 52 Insurance Expens 53 Rent Expense 54 Wages Expense 56 Utilites Expense 57 Depreciation Exp 59 Miscellaneous Ex 4 What would be the effect on the "Net vicrease ordecrease in cash" on the statement of cash flows if the adjustments for unbilled fees and accrued wages were omitted at the end of the jear? 21+32 cou cred EQUITY 31 Owner's Equity CESCFIPTOH DEBIT CT ASSETS LABILTIES ERUITY