Question

I need help filling in letter e (unbilled fees). Thanks!!

u per month d) Straight-line depreciation of office equipment, based on a 5-year life and a $4,000 saivage value, is s e) The company has completed work for a client, but has not yet billed the $1,800 fee. f) Wages due to employees, but not yet pald, as of April 30 total $2,600. Requirement General Journal General Ledger Trial Balance Income Statement St Retained Earnings Balance Sheet Impact on Income For each adjustment, indicate the income statement and balance sheet account affected, and the impact on net income. If adjustment caused net income to decrease, enter the amount as a negative value. Net Income before adjustments can be found on th statement tab.(Hint: Select unadjusted on the drop-down.) Impact on net income Adjusted Account affecting the: Adjusting entry related to: Income Statement Balance Sheet a) Rent Rent expense Prepaid rent b) Insurance Insurance expense Prepaid insurance c) Office supplies Office supplies expense Office supplies d) Depreciation Depreciation expense - Office equipment Accumulated depreciation - Office equipment e) Unbilled fees Services revenue Accounts receivable Unpaid wages Wages expense Wages payable Total impact on income due to adjustments Net income before adjustments Net income after adjustments Had the adjustments not been prepared, income would have been overstated by (750) (200) (3,000) (500) $ (2,600) 17,050) 12,455 5,405 130.4% $ < Balance Sheet

Answer 1

Answer-
Adjusting Entry for part (e )
Particulars	Debit	Credit
Accounts receivable	$                         1,800
Service revenue		$                         1,800
(being revenue accounted)
Statement showing accounting effect
Adjusting Entry	Income Statement	Balance Sheet	Impact on Income
Unbilled fees	Service revenue	Accounts Receivable	$                   1,800
Note- Income should be increased by $1800 in Income statement
Balance of Accounts Receivable should also be increased in Balance Sheet by the same amount.