Adjusting Entries and Adjusted Trial Balances

Rowland Company is a small editorial services company owned and operated by Fran Briggs. On August 31, 2018, the end of the current year, Rowland Company's accounting clerk prepared the following unadjusted trial balance:

Rowland Company
Unadjusted Trial Balance
August 31, 2018
	Debit Balances		Credit Balances
Cash	3,930
Accounts Receivable	35,660
Prepaid Insurance	6,650
Supplies	1,810
Land	104,870
Building	189,190
Accumulated DepreciationBuilding			128,150
Equipment	126,030
Accumulated DepreciationEquipment			91,270
Accounts Payable			11,180
Unearned Rent			6,350
Common Stock			80,000
Retained Earnings			125,500
Dividends	13,900
Fees Earned			302,230
Salaries and Wages Expense	180,130
Utilities Expense	39,590
Advertising Expense	21,160
Repairs Expense	16,020
Miscellaneous Expense	5,740
	744,680		744,680

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

• Unexpired insurance at August 31, $4,460.
• Supplies on hand at August 31, $540.
• Depreciation of building for the year, $2,950.
• Depreciation of equipment for the year, $2,560.
• Rent unearned at August 31, $1,650.
• Accrued salaries and wages at August 31, $2,880.
• Fees earned but unbilled on August 31, $16,920.

Required:

Adjusting Entries and Adjusted Trial Balances Rowland Company is a small editorial services company owned and operated by Fran Briggs. On August 31, 2018, the end of the current year, Rowland Company's accounting clerk prepared the following unadjusted trial balance: Rowland Company Unadjusted Trial Balance August 31, 2018 Accounts Receivable Prepaid Insurance Supplies Land Building Accumulated Depreciation-Building Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Rent Common Stock Retained Earnings Dividends Fees Earned Salaries and Wages Expense Utilities Expense Advertising Expense Repairs Expense Miscellaneous Expense 125.00 302,230 The data needed to determine year-end adjustments are as follows: Unexpired insurance at August 31, $4,460. Supplies on hand at August 31, $540. Depreciation of building for the year, $2,950. Depreciation of equipment for the year, $2,560. Rent unearned at August 31, $1,650. Accrued salaries and wages at August 31, $2,880. Fees earned but unbilled on August 31, $16,920. Required: 1. Journalize the adjusting entries using the following additional accounts: Salaries and Wages Advertising Expense Repairs Expense Miscellaneous Expense The data needed to determine year-end adjustments are as follows: Unexpired insurance at August 31, $4,450 Supplies on hand at August 31, $540. Depreciation of building for the year, $2,950. Depreciation of equipment for the year, $2,560. Rent unearned at August 31, $1,650. Accrued salaries and wages at August 31, $2,880. Fees earned but unbilled on August 31, $16.920. 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 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. 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