3. PR 03.OSA.BLANKSHEET.ALGO (Algorithmic) Adjusting entries and adjusted trial balances Chart of Accounts Journal Adjusted Trial Balance Instructions Sears Editing Company is a small editorial services company owned and operated by Deloris Sears. On January 31, 2011, the end of the current year, Sears Editing Company's accounting clerk prepared the following unadjusted trial balance Sears Casting Company UNADJUSTED TRIAL BALANCE January 31, 2017 ACCOUNT TITLE 2755.00 1 Accounts Receivable 38,655.00 7,380.00 Pepaid Insurance 2.065.00 Supplies * Land 111,05000 153,300.00 Building Acumulated Depreciation Building 36.065.00 4 Supplies 2,065.00 5 Land 111,050.00 6 Building 153,300.00 7 Accumulated Depreciation-Building 86,065.00 140,000.00 8 Equipment 9 Accumulated Depreciation-Equipment 97,335.00 10 Accounts Payable 12,090.00 11 Uneamed Rent 6,385.00 12 Common Stock 75,410.00 13 Retained Earnings 155,595.00 14 Dividends 14,910.00 15 Fees Earned 327,650.00 197,220.00 16 Salaries and Wages Expense 17 Utilities Expense 42,205.00 18 Advertising Expense 22,795.00 19 Repairs Expense 16,910.00 20 Miscellaneous Expense 6,285.00 21 Totals 760,530.00 760,530.00 The data needed to determine year-end adjustments are as follows: a Unexpired insurance at January 31, $6,015. b. Supplies on hand at January 31, $400 c. Depreciation of building for the year, 57,740. d. Depreciation of equipment for the year, $3,835 Rent unearned at January 31, $1,625. Accrued salaries and wages at January 31, 52,720 g. Fees earned but unbilled on January 31, $11,520 Required: 1. Journalize the adjusting entries using the following additional accounts: Salaries and Wages Payable; Rent Revenue; Insurance Expense; Depreciation Expense--Building; Depreciation Expense --Equipment, and Supplies Expense. Refer to the Chart of Accounts for exact wording of account titles 2. Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance Chart of Accounts General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable 42 Rent Revenue 13 Prepaid Insurance 14 Supplies 15 Land 16 Building 17 Accumulated Depreciation-Building 18 Equipment 19 Accumulated Depreciation-Equipment EXPENSES 51 Salaries and Wages Expense 52 Utilities Expense 53 Advertising Expense 54 Repairs Expense 55 Depreciation Expense-Building 56 Depreciation Expense-Equipment 57 Insurance Expense 58 Supplies Expense 59 Miscellaneous Expense LIABILITIES 21 Accounts Payable 22 Unearned Rent 23 Salaries and Wages Payable EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends 1. Journalire the adjusting entries using the following additional accounts: Salaries and Wages Payable Rent Revenue Insurance Expense clation Expense-Building, Depreciation ponse-Ement and Supplies Expense Refer to the Chart of Accounts for exact wording of accounts PAGE 10 JOURNAL ACCOUNTING EQUATION DATE POSE REE DET CREDIT SET LABUTIES EQUITY DESCRIPTION Adjusting Entries 2. Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance. Sears Editing Company ADJUSTED TRIAL BALANCE January 31, 2041 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Accounts Receivable 3 Prepaid Insurance 4 Supplies 5 Land 6 Building 7 Accumulated Depreciation-Building 8 Equipment 9 Accumulated Depreciation Equipment 10 Accounts Payable 11 Uneamed Rent 12 Salaries and Wages Payable 12 Salaries and Wages Payable 13 Common Stock 14 Retained Earnings 15 Dividends 16 Fees Earned 17 Rent Revenue 18 Salaries and Wages Expense 19 Utilities Expense 20 Advertising Expense 21 Repairs Expense 22 Depreciation Expense-Building 23 Depreciation Expense-Equipment 24 Insurance Expense 25 Supplies Expense 26 Miscellaneous Expense 27 Totals