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Adjusting Entries and Adjusted Trial Balances Reece Financial Services Co., which specializes in appliance repair services, is owned and operated by Joni Reece. Reece Financial

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Adjusting Entries and Adjusted Trial Balances Reece Financial Services Co., which specializes in appliance repair services, is owned and operated by Joni Reece. Reece Financial Services' accounting clerk following unadjusted trial balance at July 31, 2019: Reece Financial Services Co. Unadjusted Trial Balance July 31, 2049 Debit Credit Balances Balances Cash 4,850 Accounts Receivable 44,040 Prepaid Insurance 8,210 Supplies 2,240 Land 129,510 Bullding 233,650 Accumulated Depreciation-Building 158,250 Equipment 155,630 Accumulated Depreciation --Equipment 112,710 Accounts Payable 13,810 Unearned Rent 7,840 Common Stock 80,000 Retained Earnings 173,800 Dividends 17.170 Fees Earned 373,220 Check My Work 1 more Check My Work uses remaining Fees Earned 373,220 Salaries and Wages Expense 222,440 Utilities Expense 48,890 Advertising Expense 26,130 Repairs Expense 19,780 Miscellaneous Expense 7,090 919,630 919,630 The data needed to determine year-end adjustments are as follows: Depreciation of building for the year, $3,640 Depreciation of equipment for the year, $3,160. Accrued salaries and wages at July 31, $3,560. Unexpired insurance at July 31, $5,500. Fees earned but unbilled on July 31, $20,900, Supplies on hand at July 31, $670. Rent uneared at July 31, $2,040. 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. July 31 31 Check My Workmore Chock My Work uses remaining Previous 4. 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. July 31 31 31 11 31 31 II II II II II II II II II II 31 31

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