eBook Calculator Print Item Instructions Pitman Company is a small editorial services company owned and operated by Jan Pitman. On October 31, 2019 the end of the current year, Pitman Company's accounting clerk prepared the following unadjusted trial balance: Pitman Company UNADJUSTED TRIAL BALANCE October 31, 2019 CREDIT ACCOUNT TITLE DEBIT 7,710.00 1 Cash 37,935.00 2 Accounts Receivable 3 Prepaid Insurance 7,070.00 2,125.00 4 Supplies 5 Land 108,400.00 145,300.00 Building 85,610.00 Accumulated Depreciation-Building 134,800.00 Equipment u m or Check My Work uses remaining. eBook Calculator Print Item Instructions 9 Accumulated Depreciation Equipment 96,100.00 12,625.00 10 Accounts Payable 6,340.00 11 Uneamed Rent 12 Jan Pitman, Capital 13 Jan Pitman, Drawing 219,690.00 15.120.00 323,700.00 14 Fees Earned 15 Salaries and Wages Expense 16 Utilities Expense 17 Advertising Expense 196,770.00 42.265.00 23,135.00 17,195.00 6,240.00 744,065.00 18 Repairs Expense 19 Miscellaneous Expense 744,065.00 20 Totals The data needed to determine year-end adjustments are as follows: Instructions The data needed to determine year-end adjustments are as follows: a. Unexpired insurance at October 31, $6,105. b. Supplies on hand at October 31, $485. c. Depreciation of building for the year, $7,140. d. Depreciation of equipment for the year, $4,445. e. Unearned rent at October 31, $1,890. f. Accrued salaries and wages at October 31, $3,330 g. Fees earned but unbilled on October 31, $11,475. 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. Refer to the Chart of Accounts for exact wording of account titles. 2. Determine the balances of the accounts affected by the adjusting entries and prepare an adjusted trial balance. Chart of Accounts CHART OF ACCOUNTS Pitman Company General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 42 Rent Revenue 12 Accounts Receivable 13 Prepaid Insurance 14 Supplies EXPENSES 15 Land 51 Salaries and Wages Expense 52 Utilities Expense 16 Building 17 Accumulated Depreciation-Building 53 Advertising Expense 40 54 Renaire Eynonen Instructions Chart of Accounts 16 Building 17 Accumulated Depreciation-Building 18 Equipment 19 Accumulated Depreciation-Equipment 52 Utilities Expense 53 Advertising Expense 54 Repairs Expense 55 Depreciation Expense-Building 56 Depreciation Expense-Equipment 57 Insurance Expense 58 Supplies Expense 59 Miscellaneous Expense LIABILITIES 21 Accounts Payable 22 Uneamed Rent 23 Salaries and Wages Payable EQUITY 31 Jan Pitman, Capital 32 Jan Pitman, Drawing 2. Determine the balances of the accounts affected by the adjusting entries and prepare an adjusted trial balance, Journal 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. Refer to the Chart of Accounts for exact wording of accountitles PAGE 10 JOURNAL ACCOUNTING EQUATION POST. RER DEBIT CREDIT ASSETS LIABUTIES EQUITY DESCRIPTION Adjusting Entries Journal Adjusted Trial Balance Bu 2. Determine the balances of the accounts affected by the adjusting entries and prepare an adjusted trial balance. Pitman Company ADJUSTED TRIAL BALANCE October 31, 2019 U NTING LIABILI ACCOUNT TITLE CREDIT 1 Cash Accounts Receivable Prepaid Insurance Supplies
