Trident Repairs & Service, an electronics repair store, prepared the following unadjusted trial balance at the end of its first year of operations:

Trident Repairs & Service

UNADJUSTED TRIAL BALANCE

November 30, 20Y3

	ACCOUNT TITLE	DEBIT	CREDIT
1	Cash	9,880.00
2	Accounts Receivable	67,550.00
3	Supplies	16,160.00
4	Equipment	114,550.00
5	Accounts Payable		15,790.00
6	Unearned Fees		17,600.00
7	Common Stock		9,500.00
8	Retained Earnings		112,710.00
9	Dividends	13,210.00
10	Fees Earned		291,830.00
11	Wages Expense	94,040.00
12	Rent Expense	71,870.00
13	Utilities Expense	52,130.00
14	Miscellaneous Expense	8,040.00
15	Totals	447,430.00	447,430.00

For preparing the adjusting entries, the following data were assembled:

	Fees earned but unbilled on November 30 were $9,890.
	Supplies on hand on November 30 were $4,770.
	Depreciation of equipment was estimated to be $6,470 for the year.
	The balance in unearned fees represented the November 1 receipt in advance for services to be provided. During November, $15,120 of the services were provided.
	Unpaid Wages accrued on November 30 were $5,280.

	Required:
1.	Journalize the adjusting entries necessary on November 30, 20Y3. Refer to the Chart of Accounts for exact wording of account titles.
2.	Determine the revenues, expenses, and net income of Trident Repairs & Service before the adjusting entries.
3.	Determine the revenues, expenses, and net income of Trident Repairs & Service after the adjusting entries.
4.	Determine the effect of the adjusting entries on Retained Earnings.

CHART OF ACCOUNTS

Trident Repairs & Service

General Ledger

	ASSETS
11	Cash
12	Accounts Receivable
13	Supplies
14	Equipment
15	Accumulated Depreciation-Equipment

	LIABILITIES
21	Accounts Payable
22	Wages Payable
23	Unearned Fees

	EQUITY
31	Common Stock
32	Retained Earnings
33	Dividends

	REVENUE
41	Fees Earned

	EXPENSES
51	Wages Expense
52	Rent Expense
53	Supplies Expense
54	Depreciation Expense
56	Utilities Expense
59	Miscellaneous Expense

1. Journalize the adjusting entries necessary on November 30, 20Y3. Refer to the Chart of Accounts for exact wording of account titles.

PAGE 10

JOURNAL

ACCOUNTING EQUATION

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
1		Adjusting Entries
2
3
4
5
6
7
8
9
10
11

2. Determine the revenues, expenses, and net income of Trident Repairs & Service before the adjusting entries.

Before Adjusting Entries

1	Revenues
2	Expenses
3	Net income

3. Determine the revenues, expenses, and net income of Trident 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 $ _____________