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NoWv2|Online X akeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSessionLocator-assign; Calculator Selected account balances before adjustment for Intuit Realtyy at November 30, the end of the current year, fol Debits $67,540 104,000 Credits Accounts Receivable Equipment Accumulated Depreciation - Equipment Prepaid Rent Supplies Wages Payable Unearned Fees Fees Earned Wages Expense Rent Expense $10,400 8,500 2,030 9,320 394,430 133,050 %) Depreciation Expense Supplies Expense Data needed for year-end adjustments are as follows: . Supplies on hand at November 30, $610. Depreciation of equipment duning year, $1,010. * Rent expired during year, $6,210. Wages accrued but not paid at November 30, $1,960. Unearned fees at November 30, $3,920. Unbilled fees at November 30, $4,660 Required 1. Journalize the six adjusting entries required at November 30, based on the data presented. All work saved.

Explanation / Answer

Intuit Realityy Adjusted Journal Entries Date Journal Amount (DR) Amount (CR) 30-Nov Supplies Expenses=($2030-$610) $                         1,420.00      To Supplies $                                 1,420.00 (Being amount of supplies expenses) 30-Nov Depreciation $                         1,010.00      To Accumulated Depreciation $                                 1,010.00 (Being amount of Depreciation expenses) 30-Nov Rent $                         6,210.00       To Prepaid Rent $                                 6,210.00 (Being amount of Rent Expenses) 30-Nov Wages $                         1,960.00       To Wages Payable $                                 1,960.00 (Being amount of wages expenses due) 30-Nov Unearned Fees=($9320-$3920) $                         5,400.00       To Fees Earned $                                 5,400.00 (Being amount of Fees earned) 30-Nov Accounts Receivable $                         4,660.00      To Service Revenue $                                 4,660.00 (Being amount of unbilled fees at Nov 30th) 2) Fees Earned decreased by $                         5,400.00 Depreciation Expense decresed by $                         1,010.00 Net Income Decreased by ($5400-$1010) $                         4,390.00 3) Accumulated Depreciation decreased by $                         1,010.00 Unearned Fees decreased by $                         5,400.00 Total Liabilities decreased by $                         6,410.00 Retained Earnings decreased by   $                         4,390.00 Total Liabilities & Stockholder's equity decreased by $                       10,800.00

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