For preparing the adjusting entries, the following data were assembled: Fees earned but unbilled on November...

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For preparing the adjusting entries, the following data were assembled: Fees earned but unbilled on November 30 were $10,500. Supplies on hand on November 30 were $1,175. Depreciation of equipment was estimated to be $9,500 for the year. The balance in unearned fees represented the November 1 receipt in advance for services to be provided. During November, $16,800 of the services were provided. Unpaid wages accrued on November 30 were $2,400. Required: 1. Journalize the adjusting entries necessary on November 30, 2013. 2. Determine the revenues, expenses, and net income of Reliable Repairs & Service before the adjusting entries. 3. Determine the revenues, expenses, and net income of Reliable Repairs & Service after the adjusting entries. 4. Determine the effect of the adjusting entries on Retained Earnings. Mail - Hugo Cardenas - Outlook X Create Order LTI Launch CengageNOWv2 | Online teach + C G Gmail YouTube Q Quiz+ | Search res... v2.cengagenow.com/ilrn/takeAssignment/takeAssignment Main.do?invoker=&takeAssignmentSession Locator=&inprogress=false h Citation Machine... C Home | Chegg.com Courses south tex... RentCafe Residen... Sportsurge Underdog Fantasy... Careers Mutual Of... Ch3 Homework Instructions eBook November 30, 20Y3 Print Item ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Accounts Receivable 25,350.00 67,500.00 3 Supplies 4 Equipment 5 Accounts Payable 16,200.00 181,100.00 25,750.00 6 Unearned Fees 18,000.00 7 Common Stock 75,000.00 > 8 Retained Earnings 111,500.00 9 Dividends 13,500.00 10 Fees Earned 11 Wages Expense 369,750.00 144,500.00 12 Rent Expense 92,000.00 13 Utilities Expense 51,750.00 14 Miscellaneous Expense 8,100.00 15 Totals 600,000.00 600,000.00 Check My Work Assignment Score: 40.91% Previous Next All work saved. Save and Exit Submit Assignment for Grading Mail - Hugo Cardenas - Outlook X Create Order LTI Launch CengageNOWv2 | Online teach + C G Gmail YouTube Q Quiz+ | Search res... v2.cengagenow.com/ilrn/takeAssignment/takeAssignment Main.do?invoker=&takeAssignmentSession Locator=&inprogress=false h Citation Machine... C Home | Chegg.com Courses south tex... RentCafe Residen... Sportsurge Underdog Fantasy... Careers Mutual Of... Ch3 Homework Adjusting entries Instructions General Journal eBook Print Item Chart of Accounts General Journal Final Questions Question not attempted. DATE DESCRIPTION 1 Adjusting Entries 2 > 3 4 5 6 7 8 9 10 11 Check My Work Assignment Score: 40.91% JOURNAL Score: 0/126 POST. REF. DEBIT CREDIT All work saved. Shaded cells have feedback. PAGE 10 ACCOUNTING EQUATION ASSETS LIABILITIES EQUITY Points: 0/25 Previous Next Save and Exit Submit Assignment for Grading Mail - Hugo Cardenas - Outlook X Create Order LTI Launch CengageNOWv2 | Online teach + C G Gmail YouTube Q Quiz+ | Search res... v2.cengagenow.com/ilrn/takeAssignment/takeAssignment Main.do?invoker=&takeAssignmentSession Locator=&inprogress=false h Citation Machine... C Home | Chegg.com Courses south tex... RentCafe Residen... Sportsurge Underdog Fantasy... Careers Mutual Of... Ch3 Homework eBook Adjusting entries Instructions Chart of Accounts General Journal Final Questions Final Questions Print Item Shaded cells have feedback. Shaded cells have feedback. 2. Determine the revenues, expenses, and net income of Reliable Repairs & Service before the adjusting entries. Question not attempted. 1 Revenues > 2 Expenses 3 Net income Before Adjusting Entries Score: 0/11 Feedback Check My Work 2. Remember that Revenue - Expenses = Net Income (before adjustments). Check My Work Assignment Score: 40.91% Points: 0/3 All work saved. PAGE 10 COUNTING EQUATION LIABILITIES EQUITY Points: 0/25 Previous Next Save and Exit Submit Assignment for Grading Mail - Hugo Cardenas - Outlook X Create Order LTI Launch CengageNOWv2 | Online teach + C G Gmail YouTube Q Quiz+ | Search res... v2.cengagenow.com/ilrn/takeAssignment/takeAssignment Main.do?invoker=&takeAssignmentSession Locator=&inprogress=false h Citation Machine... C Home | Chegg.com Courses south tex... RentCafe Residen... Sportsurge Underdog Fantasy... Careers Mutual Of... Ch3 Homework eBook Adjusting entries Instructions Chart of Accounts General Journal Final Questions Final Questions 2. Remember that Revenue - Expenses = Net Income (before adjustments). Print Item Shaded cells have feedback. Shaded cells have feedback. 3. Determine the revenues, expenses, and net income of Reliable Repairs & Service after the adjusting entries. Question not attempted. > 1 Revenues 2 Expenses 3 Net income After Adjusting Entries Score: 0/11 Feedback Check My Work 3. Remember that Revenue - Expenses = Net Income (after adjustments). Check My Work Assignment Score: 40.91% Points: 0/3 All work saved. PAGE 10 COUNTING EQUATION LIABILITIES EQUITY Points: 0/25 Previous Next Save and Exit Submit Assignment for Grading Mail - Hugo Cardenas - Outlook X Create Order LTI Launch CengageNOWv2 | Online teach + C v2.cengagenow.com/ilrn/takeAssignment/takeAssignment Main.do?invoker=&takeAssignmentSession Locator=&inprogress=false h G Gmail YouTube Q Quiz+ | Search res... Citation Machine... C Home | Chegg.com Courses south tex... RentCafe Residen... Sportsurge Underdog Fantasy... Careers Mutual Of... Ch3 Homework CAUQUA Suneniny Instructions Final Questions eBook Chart of Accounts General Journal Final Questions Feedback Check My Work 3. Remember that Revenue - Expenses = Net Income (after adjustments). > 4. Determine the effect of the adjusting entries on Retained Earnings. The Retained Earnings account increases by $ Feedback Check My Work 4. How does net income affect the Retained Earnings account? Check My Work Assignment Score: 40.91% Print Item Shaded cells have feedback. Shaded cells have feedback. Points: 0/3 Points: 1/2 All work saved. PAGE 10 COUNTING EQUATION LIABILITIES EQUITY Points: 0/25 Previous Save and Exit Submit Assignment for Grading For preparing the adjusting entries, the following data were assembled: Fees earned but unbilled on November 30 were $10,500. Supplies on hand on November 30 were $1,175. Depreciation of equipment was estimated to be $9,500 for the year. The balance in unearned fees represented the November 1 receipt in advance for services to be provided. During November, $16,800 of the services were provided. Unpaid wages accrued on November 30 were $2,400. Required: 1. Journalize the adjusting entries necessary on November 30, 2013. 2. Determine the revenues, expenses, and net income of Reliable Repairs & Service before the adjusting entries. 3. Determine the revenues, expenses, and net income of Reliable Repairs & Service after the adjusting entries. 4. Determine the effect of the adjusting entries on Retained Earnings. Mail - Hugo Cardenas - Outlook X Create Order LTI Launch CengageNOWv2 | Online teach + C G Gmail YouTube Q Quiz+ | Search res... v2.cengagenow.com/ilrn/takeAssignment/takeAssignment Main.do?invoker=&takeAssignmentSession Locator=&inprogress=false h Citation Machine... C Home | Chegg.com Courses south tex... RentCafe Residen... Sportsurge Underdog Fantasy... Careers Mutual Of... Ch3 Homework Instructions eBook November 30, 20Y3 Print Item ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Accounts Receivable 25,350.00 67,500.00 3 Supplies 4 Equipment 5 Accounts Payable 16,200.00 181,100.00 25,750.00 6 Unearned Fees 18,000.00 7 Common Stock 75,000.00 > 8 Retained Earnings 111,500.00 9 Dividends 13,500.00 10 Fees Earned 11 Wages Expense 369,750.00 144,500.00 12 Rent Expense 92,000.00 13 Utilities Expense 51,750.00 14 Miscellaneous Expense 8,100.00 15 Totals 600,000.00 600,000.00 Check My Work Assignment Score: 40.91% Previous Next All work saved. Save and Exit Submit Assignment for Grading Mail - Hugo Cardenas - Outlook X Create Order LTI Launch CengageNOWv2 | Online teach + C G Gmail YouTube Q Quiz+ | Search res... v2.cengagenow.com/ilrn/takeAssignment/takeAssignment Main.do?invoker=&takeAssignmentSession Locator=&inprogress=false h Citation Machine... C Home | Chegg.com Courses south tex... RentCafe Residen... Sportsurge Underdog Fantasy... Careers Mutual Of... Ch3 Homework Adjusting entries Instructions General Journal eBook Print Item Chart of Accounts General Journal Final Questions Question not attempted. DATE DESCRIPTION 1 Adjusting Entries 2 > 3 4 5 6 7 8 9 10 11 Check My Work Assignment Score: 40.91% JOURNAL Score: 0/126 POST. REF. DEBIT CREDIT All work saved. Shaded cells have feedback. PAGE 10 ACCOUNTING EQUATION ASSETS LIABILITIES EQUITY Points: 0/25 Previous Next Save and Exit Submit Assignment for Grading Mail - Hugo Cardenas - Outlook X Create Order LTI Launch CengageNOWv2 | Online teach + C G Gmail YouTube Q Quiz+ | Search res... v2.cengagenow.com/ilrn/takeAssignment/takeAssignment Main.do?invoker=&takeAssignmentSession Locator=&inprogress=false h Citation Machine... C Home | Chegg.com Courses south tex... RentCafe Residen... Sportsurge Underdog Fantasy... Careers Mutual Of... Ch3 Homework eBook Adjusting entries Instructions Chart of Accounts General Journal Final Questions Final Questions Print Item Shaded cells have feedback. Shaded cells have feedback. 2. Determine the revenues, expenses, and net income of Reliable Repairs & Service before the adjusting entries. Question not attempted. 1 Revenues > 2 Expenses 3 Net income Before Adjusting Entries Score: 0/11 Feedback Check My Work 2. Remember that Revenue - Expenses = Net Income (before adjustments). Check My Work Assignment Score: 40.91% Points: 0/3 All work saved. PAGE 10 COUNTING EQUATION LIABILITIES EQUITY Points: 0/25 Previous Next Save and Exit Submit Assignment for Grading Mail - Hugo Cardenas - Outlook X Create Order LTI Launch CengageNOWv2 | Online teach + C G Gmail YouTube Q Quiz+ | Search res... v2.cengagenow.com/ilrn/takeAssignment/takeAssignment Main.do?invoker=&takeAssignmentSession Locator=&inprogress=false h Citation Machine... C Home | Chegg.com Courses south tex... RentCafe Residen... Sportsurge Underdog Fantasy... Careers Mutual Of... Ch3 Homework eBook Adjusting entries Instructions Chart of Accounts General Journal Final Questions Final Questions 2. Remember that Revenue - Expenses = Net Income (before adjustments). Print Item Shaded cells have feedback. Shaded cells have feedback. 3. Determine the revenues, expenses, and net income of Reliable Repairs & Service after the adjusting entries. Question not attempted. > 1 Revenues 2 Expenses 3 Net income After Adjusting Entries Score: 0/11 Feedback Check My Work 3. Remember that Revenue - Expenses = Net Income (after adjustments). Check My Work Assignment Score: 40.91% Points: 0/3 All work saved. PAGE 10 COUNTING EQUATION LIABILITIES EQUITY Points: 0/25 Previous Next Save and Exit Submit Assignment for Grading Mail - Hugo Cardenas - Outlook X Create Order LTI Launch CengageNOWv2 | Online teach + C v2.cengagenow.com/ilrn/takeAssignment/takeAssignment Main.do?invoker=&takeAssignmentSession Locator=&inprogress=false h G Gmail YouTube Q Quiz+ | Search res... Citation Machine... C Home | Chegg.com Courses south tex... RentCafe Residen... Sportsurge Underdog Fantasy... Careers Mutual Of... Ch3 Homework CAUQUA Suneniny Instructions Final Questions eBook Chart of Accounts General Journal Final Questions Feedback Check My Work 3. Remember that Revenue - Expenses = Net Income (after adjustments). > 4. Determine the effect of the adjusting entries on Retained Earnings. The Retained Earnings account increases by $ Feedback Check My Work 4. How does net income affect the Retained Earnings account? Check My Work Assignment Score: 40.91% Print Item Shaded cells have feedback. Shaded cells have feedback. Points: 0/3 Points: 1/2 All work saved. PAGE 10 COUNTING EQUATION LIABILITIES EQUITY Points: 0/25 Previous Save and Exit Submit Assignment for Grading