Lincoln Service Co., which specializes in appliance repair services, is owned and operated by Molly Jordan. Lincoln Service Co.'s accounting clerk prepared the unadjusted trial balance at December 31, 2008, shown below.

{Instructions}
1. Journalize the adjusting entries. Add additional accounts as needed.
2. Determine the balances of the accounts affected by the adjusting entries and prepare an adjusted trial balance.obj. 3

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Lincoln Service Co. Unadjusted Trial Balance December 31, 2008 Debit Balances. Credit Balances Cash Accounts Receivable Prepaid Insurance 2,100 10,300 3,000 Supplies 1,725 Land 50,000 Building 80,750 Accumulated Depreciation-Building 37,850 Equipment 44,000 Accumulated Depreciation-Equipment 17,650 Accounts Payable 3,750 Unearned Rent 3,600 Capital Stock.. Retained Earnings Dividends 26,000 57,550 2,500 Fees Earned. Salaries and Wages Expense Utilities Expense Advertising Expense Repairs Expense Miscellaneous Expense 128,600 50,900 14,100 7,500 6,100 2,025 275,000 275,000 The data needed to determine year-end adjustments are as follows: a. Depreciation of building for the year, $3,500. b. Depreciation of equipment for the year, $2,300. c. Accrued salaries and wages at December 31, $1,100. d. Unexpired insurance at December 31, $750. e. Fees earned but unbilled on December 31, $3,250. f. Supplies on hand at December 31, $525. g. Rent unearned at December 31, $1,500.