Adjusting Entries and Adjusted Trial Balances Emerson Company is a small editorial services company owned and operated by Suzanne Emerson on October 31, 2046, Emerson Company's accounting clerk prepared the following unadjusted trial balance: Emerson Company Unadjusted Trial Balance October 31, 2016 Debit Credit Balances Balances Cash 4,160 Accounts Receivable 37,750 Prepaid Insurance 7,040 Supplies 1.920 Land 111,010 Building 280,230 Accumulated Depreciation--Building 135,650 Equipment 133,410 Accumulated Depreciation-Equipment 96,620 Accounts Payable 11,840 Unearned Rent 6,720 Suzanne Emerson, Capital 297,500 Suzanne Emerson, Drawing 14,720 319,920 Fees Earned Salaries and Wages Expense Utilities Expense Advertising Expense Repairs Expense Miscellaneous Expense 190,670 41,910 22,390 16,960 6,080 868,250 868,250 The data needed to determine year-end adjustments are as follows: Unexpired insurance at October 31, $4,720. Supplies on hand at October 31, $580. Depreciation of building for the year, $3,120. Depreciation of equipment for the year, $2,710. Unearned rent at October 31, $1,750. Accrued salaries and wages at October 31, $3,050. Fees earned but unbilled on October 31, $17,920. 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. If an amount box does not require an entry, leave it blank. 2046 Oct. 31 31 31 31 31 II II II II II II II II II II II II 31 31 31 Determine the balances of the accounts affected by the adjusting entries and prepare an adjusted trial balance. If an amount box does not require an entry, leave it blank, Emerson Company Adjusted Trial Balance October 31, 2016 2. Determine the balances of the accounts affected by the adjusting entries and prepare an adjusted trial balance. If an amount box does not require an entry, leave it blank. Emerson Company Adjusted Trial Balance October 31, 2016 Debit Balances Credit Balances Debit Balances Credit Balances