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L ydenow.com O NOW2 Oinetec t or eporters Mind Tup-Cangage Leaming Chege Coupons - Free Trial y Bocin eBook Calculator Adjusting Entries Milbank Repairs & Service, an electronics repair store, prepared the following unadjusted trial balance at the end of its first year of operations Milbank Repairs & Service Unadjusted Trial Balance June 30, 2019 Debit Credit Balances 12,440 Accounts Receivable 82,600 Supplies 19.900 Equipment 476,870 Accounts Payable 19,410 21,890 346,000 Uneamed Fees Nancy Townes, Capital Nancy Townes, Drawing Fees Eamed Wages Expense Rent Expense 16,420 497,610 115,450 U s Expense Miscellaneous Expense For preparing the adjusting entries, the following data were assembled: Fees earned but unbilled on June 30 were $9.010 Supplies on hand on June 30 were $2,350 Check My Work Previous MacBook Air eBook Calculator Por preparing the adjusting entries, the following data were assembled: Fees eamed but unbilled on June 30 were 19.010. Supplies on hand on June 30 were $7350. Depreciation of equipment was estimated to be $12,440 for the year The balance in uneamed fees represented the June receipt in advance for services to be provided. During June $17,290 of Urgeld wages acerved on June 30 were $1,590. Required: 1. Journalte the adjusting entries necessary on June 30, 2019. O O O O 01 OOOOO Revenues Expenses GEM Previous Email structor Save and Exit Submit Assime MacBook Air Expenses 276,680 Net Income 220,930 3. Determine the revenues, expenses, and net income of Milbank Repairs & Service after the adjusting entries. Revenues Expenses Net Income 4. Determine the effect of the adjusting entries on Nancy Townes, Capital. Nancy Townes, Capital by $ CheckMW 2. and 3. Remember that Revenue Expenses Net Income 4. How does not income affect Nancy Townes, Capital? My Wor Partially comect Check My Work MacBook Air VT E NMNMNI

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