Adjusting Entries and Adjusted Trial Balances

Emerson Company is a small editorial services company owned and operated by Suzanne Emerson. On October 31, 20Y6, Emerson Company's accounting clerk prepared the following unadjusted trial balance:

Emerson Company
Unadjusted Trial Balance
October 31, 20Y6
	Debit Balances	Credit Balances
Cash	5,180
Accounts Receivable	47,010
Prepaid Insurance	8,760
Supplies	2,390
Land	138,240
Building	329,390
Accumulated DepreciationBuilding			168,920
Equipment	166,130
Accumulated DepreciationEquipment			120,310
Accounts Payable			14,740
Unearned Rent			8,370
Suzanne Emerson, Capital			350,900
Suzanne Emerson, Drawing	18,330
Fees Earned			398,390
Salaries and Wages Expense	237,440
Utilities Expense	52,190
Advertising Expense	27,890
Repairs Expense	21,110
Miscellaneous Expense	7,570
	1,061,630		1,061,630

The data needed to determine year-end adjustments are as follows:

• Unexpired insurance at October 31, $5,870.
• Supplies on hand at October 31, $720.
• Depreciation of building for the year, $3,890.
• Depreciation of equipment for the year, $3,370.
• Unearned rent at October 31, $2,180.
• Accrued salaries and wages at October 31, $3,800.
• Fees earned but unbilled on October 31, $22,310.

1. Journalize the adjusting entries using the following additional accounts: Salaries and Wages Payable; Rent Revenue; Insurance Expense; Depreciation ExpenseBuilding; Depreciation ExpenseEquipment; and Supplies Expense. If an amount box does not require an entry, leave it blank.

20Y6 Oct. 31	Accounts PayableCashInsurance ExpenseInsurance PayablePrepaid Insurance	- Select -	- Select -
	Accounts PayableCashInsurance ExpenseInsurance PayablePrepaid Insurance	- Select -	- Select -
31	Accounts PayableCashSupplies ExpenseSupplies PayableSupplies	- Select -	- Select -
	Accounts PayableCashSupplies ExpenseSupplies PayableSupplies	- Select -	- Select -
31	Accounts PayableAccumulated Depreciation-BuildingBuildingDepreciation Expense-BuildingDepreciation Payable-Building	- Select -	- Select -
	Accounts PayableAccumulated Depreciation-BuildingBuildingDepreciation Expense-BuildingDepreciation Payable-Building	- Select -	- Select -
31	Accounts PayableAccumulated Depreciation-EquipmentDepreciation Expense-EquipmentDepreciation Payable-EquipmentEquipment	- Select -	- Select -
	Accounts PayableAccumulated Depreciation-EquipmentDepreciation Expense-EquipmentDepreciation Payable-EquipmentEquipment	- Select -	- Select -
31	CashPrepaid RentRent ExpenseRent RevenueUnearned Rent	- Select -	- Select -
	CashPrepaid RentRent ExpenseRent RevenueUnearned Rent	- Select -	- Select -
31	Accounts PayableCashFees EarnedSalaries and Wages ExpenseSalaries and Wages Payable	- Select -	- Select -
	Accounts PayableCashFees EarnedSalaries and Wages ExpenseSalaries and Wages Payable	- Select -	- Select -
31	Accounts PayableAccounts ReceivableCashFees EarnedUnearned Fees	- Select -	- Select -
	Accounts PayableAccounts ReceivableCashFees EarnedUnearned Fees	- Select -	- Select -

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.

	Debit Balances	Credit Balances
Accumulated Depreciation-BuildingCashFees EarnedRent RevenueSalaries and Wages Payable	- Select -	- Select -
Accounts PayableAccounts ReceivableFees EarnedInsurance PayableRent Revenue	- Select -	- Select -
Insurance ExpenseInsurance PayableMiscellaneous ExpensePrepaid InsuranceRent Revenue	- Select -	- Select -
Fees EarnedRent RevenueSalaries and Wages PayableSuppliesUnearned Rent	- Select -	- Select -
Accounts PayableAccumulated Depreciation-EquipmentFees EarnedLandSalaries and Wages Receivable	- Select -	- Select -
Accounts PayableBuildingFees EarnedFees PayableInsurance Payable	- Select -	- Select -
Accumulated Depreciation-BuildingDepreciation Expense-BuildingFees EarnedMiscellaneous ExpenseRepairs Expense	- Select -	- Select -
Accounts PayableEquipmentFees EarnedInsurance PayableRent Revenue	- Select -	- Select -
Accounts PayableAdvertising ExpenseAccumulated Depreciation-EquipmentDepreciation Expense-EquipmentFees Earned	- Select -	- Select -
Accounts PayableAccounts ReceivableAccumulated Depreciation-BuildingBuildingCash	- Select -	- Select -
CashFees EarnedPrepaid InsuranceRent RevenueUnearned Rent	- Select -	- Select -
Prepaid InsuranceRent RevenueSalaries and Wages PayableSuppliesUnearned Rent	- Select -	- Select -
BuildingEquipmentFees EarnedLandSuzanne Emerson, Capital	- Select -	- Select -
Fees EarnedRent RevenueSalaries and Wages ExpenseSuzanne Emerson, DrawingUtilities Expense	- Select -	- Select -
CashFees EarnedPrepaid InsuranceSalaries and Wages PayableUnearned Rent	- Select -	- Select -
LandRent RevenueSalaries and Wages ExpenseSupplies ExpenseUnearned Rent	- Select -	- Select -
BuildingLandSalaries and Wages ExpenseSalaries and Wages PayableSuzanne Emerson, Capital	- Select -	- Select -
LandSalaries and Wages PayableSuzanne Emerson, CapitalUnearned RentUtilities Expense	- Select -	- Select -
Advertising ExpenseBuildingSalaries and Wages PayableSuzanne Emerson, CapitalUnearned Rent	- Select -	- Select -
Advertising ExpenseLandRepairs ExpenseSalaries and Wages PayableSuzanne Emerson, Capital	- Select -	- Select -
Accumulated Depreciation-BuildingDepreciation Expense-BuildingEquipmentSuzanne Emerson, CapitalUnearned Rent	- Select -	- Select -
Accumulated Depreciation-EquipmentDepreciation Expense-EquipmentEquipmentSalaries and Wages PayableSuzanne Emerson, Capital	- Select -	- Select -
Accounts ReceivableInsurance ExpenseSuzanne Emerson, CapitalLandSalaries and Wages Payable	- Select -	- Select -
Prepaid InsuranceSalaries and Wages PayableSuppliesSupplies ExpenseUtilities Expense	- Select -	- Select -
Accumulated Depreciation Expense-BuildingAccumulated Depreciation Expense-EquipmentLandMiscellaneous ExpensePrepaid Insurance	- Select -	- Select -