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	4,080
Accounts Receivable	37,070
Prepaid Insurance	6,910
Supplies	1,890
Land	109,020
Building	196,660
Accumulated DepreciationBuilding			133,220
Equipment	131,020
Accumulated DepreciationEquipment			94,890
Accounts Payable			11,630
Unearned Rent			6,600
Common Stock			80,000
Retained Earnings			133,600
Dividends	14,450
Fees Earned			314,190
Salaries and Wages Expense	187,260
Utilities Expense	41,160
Advertising Expense	21,990
Repairs Expense	16,650
Miscellaneous Expense	5,970
	774,130		774,130

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

Required:

• Unexpired insurance at August 31, $4,630.
• Supplies on hand at August 31, $570.
• Depreciation of building for the year, $3,060.
• Depreciation of equipment for the year, $2,660.
• Rent unearned at August 31, $1,720.
• Accrued salaries and wages at August 31, $3,000.
• Fees earned but unbilled on August 31, $17,590.

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.

a.	Accounts PayableCashInsurance ExpenseInsurance PayablePrepaid Insurance	- Select -
	Accounts PayableCashInsurance ExpenseInsurance PayablePrepaid InsurancePrepaid Receivable		- Select -
b.	Accounts PayableCashSupplies ExpenseSupplies PayableSupplies	- Select -
	Accounts PayableCashSupplies ExpenseSupplies PayableSupplies		- Select -
c.	Accounts PayableAccumulated Depreciation-BuildingBuilding ExpenseBuildingDepreciation Expense-BuildingDepreciation Payable-Building	- Select -
	Accounts PayableAccumulated Depreciation-BuildingBuilding ExpenseBuildingDepreciation Expense-Building		- Select -
d.	Accounts PayableAccumulated Depreciation-EquipmentDepreciation Expense-EquipmentDepreciation Payable-EquipmentEquipment ExpenseEquipment	- Select -
	Accounts PayableAccumulated Depreciation-EquipmentDepreciation Expense-EquipmentEquipment ExpenseEquipment		- Select -
e.	CashPrepaid RentRent ExpenseRent RevenueUnearned ReceivableUnearned Rent	- Select -
	CashPrepaid RentRent ExpenseRent RevenueUnearned Rent		- Select -
f.	Accounts PayableCashFees EarnedSalaries and Wages ExpenseSalaries and Wages Payable	- Select -
	Accounts PayableCashFees EarnedSalaries and Wages ExpenseSalaries and Wages Payable		- Select -
g.	Accounts PayableAccounts ReceivableCashFees EarnedUnearned Fees	- Select -
	Accounts PayableAccounts ReceivableCashFees EarnedFees PayableUnearned Fees		- Select -

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.

Rowland Company Adjusted Trial Balance August 31, 2018

	Debit Balances	Credit Balances
Accumulated Depreciation-BuildingCashFees EarnedRent RevenueSalaries and Wages PayableSupplies PayableUnearned Rent	- Select -	- Select -
Accounts PayableAccounts ReceivableMonica Baker, DrawingFees EarnedInsurance PayableRent RevenueSalaries and Wages PayableSupplies Revenue	- Select -	- Select -
Advertising ExpenseAccumulated Depreciation-BuildingFees PayableInsurance ExpenseInsurance PayableMiscellaneous ExpensePrepaid InsuranceRent Revenue	- Select -	- Select -
Accounts PayableAccumulated Depreciation-BuildingAccumulated Depreciation-EquipmentFees EarnedRent RevenueSalaries and Wages PayableSuppliesUnearned Rent	- Select -	- Select -
Accounts PayableAccumulated Depreciation-EquipmentFees EarnedLandSalaries and Wages ReceivableUnearned Rent	- Select -	- Select -
Accounts PayableBuildingFees EarnedFees PayableInsurance PayableRent RevenueSalaries and Wages PayableSupplies Expense	- Select -	- Select -
Accumulated Depreciation-BuildingDepreciation Expense-BuildingFees EarnedMiscellaneous ExpenseRepairs ExpenseUtilities Expense	- Select -	- Select -
Accounts PayableEquipmentFees EarnedInsurance PayableRent RevenueSalaries and Wages PayableSupplies ExpenseUnearned Rent	- Select -	- Select -
Accounts PayableAdvertising ExpenseAccumulated Depreciation-EquipmentDepreciation Expense-EquipmentFees EarnedRent Revenue	- Select -	- Select -
Accounts PayableAccounts ReceivableAccumulated Depreciation-BuildingBuildingCashEquipmentFees EarnedLand	- Select -	- Select -
Accumulated Depreciation-BuildingAccumulated Depreciation-EquipmentBuildingCashFees EarnedPrepaid InsuranceRent RevenueUnearned Rent	- Select -	- Select -
Advertising ExpenseAccounts ReceivableLandPrepaid InsuranceRent RevenueSalaries and Wages PayableSuppliesUnearned Rent	- Select -	- Select -
Common StockFees EarnedLandPrepaid InsuranceRent RevenueSalaries and Wages PayableSuppliesUnearned Rent	- Select -	- Select -
Accounts PayableAccounts ReceivableAccumulated Depreciation-BuildingAccumulated Depreciation-EquipmentBuildingEquipmentFees EarnedLandRetained Earnings	- Select -	- Select -
Common StockDividendsFees EarnedRent Revenue	- Select -	- Select -
Accounts PayableAccounts ReceivableAccumulated Depreciation-BuildingBuildingCashFees EarnedPrepaid InsuranceSalaries and Wages PayableUnearned Rent	- Select -	- Select -
Accumulated Depreciation-EquipmentBuildingEquipmentLandRent RevenueSalaries and Wages ExpenseSupplies ExpenseUnearned Rent	- Select -	- Select -
Common StockRetained EarningsSalaries and Wages ExpenseSalaries and Wages Payable	- Select -	- Select -
Common StockRetained EarningsSalaries and Wages PayableUnearned RentUtilities Expense	- Select -	- Select -
Advertising ExpenseCommon StockRetained EarningsSalaries and Wages PayableUnearned Rent	- Select -	- Select -
Common StockRepairs ExpenseRetained EarningsSalaries and Wages PayableUnearned Rent	- Select -	- Select -
Accumulated Depreciation-Building Common StockDepreciation Expense-BuildingRetained EarningsSalaries and Wages PayableUnearned Rent	- Select -	- Select -
Accumulated Depreciation-EquipmentCommon StockDepreciation Expense-EquipmentRetained EarningsSalaries and Wages PayableUnearned Rent	- Select -	- Select -
Common StockInsurance ExpenseRetained EarningsSalaries and Wages PayableUnearned Rent	- Select -	- Select -
Accumulated Depreciation Expense-BuildingAccumulated Depreciation Expense-EquipmentLandPrepaid InsuranceSalaries and Wages PayableSuppliesSupplies ExpenseUtilities Expense	- Select -	- Select -
Accumulated Depreciation Expense-BuildingAccumulated Depreciation Expense-EquipmentLandMiscellaneous ExpensePrepaid InsuranceSalaries and Wages PayableSuppliesUtilities Expense	- Select -	- Select -
Totals	fill in the blank 5424d2ff2fe5077_79	fill in the blank 5424d2ff2fe5077_80