For preparing the adjusting entries the following data were assembled: 1. Su

For preparing the adjusting entries the following data were assembled:

1. Supplies on hand on April 30 were $1380.

2. Fees earned but unbilled on April 30 were $3900.

3. Depreciation of equipment was estimated to be $3000 for the year.

4. Unpaid wages accrued on April 30 were $2475.

5. The balance in unearned fees represented the April 1 receipt in advance for services to be provided. Only $14140 of the services was provided between
April 1 and April 30.

Instructions

1. Journalize the adjusting entries necessary on April 30 2014.

2. Determine the revenues expenses and net income of Crazy Mountain Outfitters Co. before the adjusting entries.

3. Determine the revenues expense and net income of Crazy Mountain Outfitters Co. after the adjusting entries.

4. Determine the effect of the adjusting entries on Retained Earnings.