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The following information is also available: 1. The balance in Prepaid Rent was the amount paid on June 1 for the first 4 months' rent. 2. Supplies on hand at June 30 were $820. 3. The equipment, purchased June 1, has an estimated life of 5 years. The depreciation for the period has already been recorded for you in the TAT. 4. Unpaid wages at June 30 were $210. 5. Utility services used during June were estimated at $300. A bill is expected early in July. 6. Fees earned for services performed but not yet billed on June 30 were $380. The firm uses the account Fees Receivable to reflect amounts due but not yet billed. a. Determine the financial statement effect of the adjustments needed at June 30 using the Transaction Analysis Template. b. Prepare the income statement for the month of June and balance sheet as of June 30 . a. Determine the financial statement effect of the adjustments needed at June 30 using the Transaction Analysis Template. b. Prepare the income statement for the month of June and balance sheet as of June 30 . Transaction Analysis Template TIP: Enter amounts that reduce the category as negative numbers. a. Determine the financial statement effect of the adjustments needed at June 30 using the Transaction Analysis Template. b. Prepare the income statement for the month of June and balance sheet as of June 30 . TIP: Expenses can be entered in any order. The following information is also available: 1. The balance in Prepaid Rent was the amount paid on June 1 for the first 4 months' rent. 2. Supplies on hand at June 30 were $820. 3. The equipment, purchased June 1, has an estimated life of 5 years. The depreciation for the period has already been recorded for you in the TAT. 4. Unpaid wages at June 30 were $210. 5. Utility services used during June were estimated at $300. A bill is expected early in July. 6. Fees earned for services performed but not yet billed on June 30 were $380. The firm uses the account Fees Receivable to reflect amounts due but not yet billed. a. Determine the financial statement effect of the adjustments needed at June 30 using the Transaction Analysis Template. b. Prepare the income statement for the month of June and balance sheet as of June 30 . a. Determine the financial statement effect of the adjustments needed at June 30 using the Transaction Analysis Template. b. Prepare the income statement for the month of June and balance sheet as of June 30 . Transaction Analysis Template TIP: Enter amounts that reduce the category as negative numbers. a. Determine the financial statement effect of the adjustments needed at June 30 using the Transaction Analysis Template. b. Prepare the income statement for the month of June and balance sheet as of June 30 . TIP: Expenses can be entered in any order

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