Chapter 3 The 147 Total of Debit column: 5776,900 ITALE PR 35A Adjusting entries and adjusted trial balances Obj. 2,3,4,5,6 Sears Editing Company is a small editorial services company owned and operated by Delors Scars On January 31, 2011, the end of the current year, Seurs Editing Company accounting clerk prepared the following unadjusted trial balancer Sears Editing Company Unadjusted Til Balance January 31, 2011 Debit Credit Balances Balances Cash 7.500 Accounts Receivable 3400 Prepaid insurance 7.200 Supplies 1.900 Land 112.500 Building 150.250 Accumulated Depreciation Building 87,550 Equipment 135,300 Accumulated Depreciation Equipment 97,950 Accounts Payable 12,150 Uneamed Rent 6.750 Common Stock 75,000 Retained Earnings 1:46.000 Dividends 15.000 Fees Earned 324,600 Salaries and Wages Expense 193370 Utilities Expense 42.375 Advertising Expense 22.800 Repairs Expense 17250 Miscellaneous Expense 6,075 750,000 750,000 - . . The data needed to determine year-end adjustments are as follows: Unexpired insurance at January 31, $2,400 Supplies on hund at January 31, $250. Depreciation of building for the year, 56,600, Depreciation of equipment for the year, $3,500 Rent uncanned at January 31, $2,750 Accrued salaries and wages at January 31, $1,800. Fees earned but unbilled on January 31, $15,000, Instructions 1. Joumalize the adjusting entries using the following additional accounts: Salaries and Wages Payable: Rent Revenue; Insurance Expense Depreciation Expense-Huilding. Depreciation Expense-Equipment and Supplies Expense 2. Determine the balances of the accounts affected by the adjusting entries and prepare an adjusted trial balance