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Adjusting Entries and Adjusted Trial Balances

Emerson Company is a small editorial services company owned and operated by Suzanne Emerson. On October 31, 20Y6, Emerson Company's accounting clerk prepared the following unadjusted trial balance:

Emerson Company
Unadjusted Trial Balance
October 31, 20Y6
	Debit Balances	Credit Balances
Cash	4,730
Accounts Receivable	42,930
Prepaid Insurance	8,000
Supplies	2,180
Land	126,240
Building	307,750
Accumulated DepreciationBuilding			154,250
Equipment	151,700
Accumulated DepreciationEquipment			109,860
Accounts Payable			13,460
Unearned Rent			7,640
Suzanne Emerson, Capital			327,400
Suzanne Emerson, Drawing	16,730
Fees Earned			363,790
Salaries and Wages Expense	216,820
Utilities Expense	47,660
Advertising Expense	25,470
Repairs Expense	19,280
Miscellaneous Expense	6,910
	976,400		976,400

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

• Unexpired insurance at October 31, $5,360.
• Supplies on hand at October 31, $650.
• Depreciation of building for the year, $3,550.
• Depreciation of equipment for the year, $3,080.
• Unearned rent at October 31, $1,990.
• Accrued salaries and wages at October 31, $3,470.
• Fees earned but unbilled on October 31, $20,370.

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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. If an amount box does not require an entry, leave it blank.

20Y6 Oct. 31	Accounts PayableCashInsurance ExpenseInsurance PayablePrepaid Insurance	- Select -	- Select -
	Accounts PayableCashInsurance ExpenseInsurance PayablePrepaid Insurance	- Select -	- Select -
31	Accounts PayableCashSupplies ExpenseSupplies PayableSupplies	- Select -	- Select -
	Accounts PayableCashSupplies ExpenseSupplies PayableSupplies	- Select -	- Select -
31	Accounts PayableAccumulated Depreciation-BuildingBuildingDepreciation Expense-BuildingDepreciation Payable-Building	- Select -	- Select -
	Accounts PayableAccumulated Depreciation-BuildingBuildingDepreciation Expense-BuildingDepreciation Payable-Building	- Select -	- Select -
31	Accounts PayableAccumulated Depreciation-EquipmentDepreciation Expense-EquipmentDepreciation Payable-EquipmentEquipment	- Select -	- Select -
	Accounts PayableAccumulated Depreciation-EquipmentDepreciation Expense-EquipmentDepreciation Payable-EquipmentEquipment	- Select -	- Select -
31	CashPrepaid RentRent ExpenseRent RevenueUnearned Rent	- Select -	- Select -
	CashPrepaid RentRent ExpenseRent RevenueUnearned Rent	- Select -	- Select -
31	Accounts PayableCashFees EarnedSalaries and Wages ExpenseSalaries and Wages Payable	- Select -	- Select -
	Accounts PayableCashFees EarnedSalaries and Wages ExpenseSalaries and Wages Payable	- Select -	- Select -
31	Accounts PayableAccounts ReceivableCashFees EarnedUnearned Fees	- Select -	- Select -
	Accounts PayableAccounts ReceivableCashFees EarnedUnearned Fees	- Select -	- Select -

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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.

	Debit Balances	Credit Balances
Accumulated Depreciation-Building, Cash, Fees Earned, Rent Revenue, Salaries and Wages Payable	- Select -	- Select -
Accounts Payable, Accounts Receivable, Fees Earned, Insurance Payable, Rent Revenue	- Select -	- Select -
Insurance Expense, Insurance Payable, Miscellaneous Expense, Prepaid Insurance, Rent Revenue	- Select -	- Select -
Fees Earned, Rent Revenue, Salaries and Wages Payable, Supplies, Unearned Rent	- Select -	- Select -
Accounts Payable, Accumulated Depreciation-Equipment, Fees Earned, Land, Salaries and Wages Receivable	- Select -	- Select -
Accounts Payable, Building, Fees Earned, Fees Payable Insurance Payable	- Select -	- Select -
Accumulated Depreciation-Building, Depreciation Expense-Building, Fees Earned, Miscellaneous Expense, Repairs Expense	- Select -	- Select -
Accounts Payable, Equipment, Fees Earned, Insurance Payable, Rent Revenue	- Select -	- Select -
Accounts Payable, Advertising Expense, Accumulated Depreciation-Equipment, Depreciation Expense-Equipment, Fees Earned	- Select -	- Select -
Accounts Payable, Accounts Receivable, Accumulated Depreciation-Building, Building, Cash	- Select -	- Select -
Cash, Fees Earned, Prepaid Insurance, Rent Revenue, Unearned Rent	- Select -	- Select -
Prepaid Insurance, Rent Revenue, Salaries and Wages Payable, Supplies, Unearned Rent	- Select -	- Select -
Building, Equipment, Fees Earned, Land, Suzanne Emerson Capital	- Select -	- Select -
Fees Earned, Rent Revenue, Salaries and Wages Expense, Suzanne Emerson Drawing, Utilities Expense	- Select -	- Select -
Cash, Fees Earned, Prepaid Insurance, Salaries and Wages, Payable, Unearned Rent	- Select -	- Select -
Land, Rent Revenue, Salaries and Wages Expense, Supplies Expense, Unearned Rent	- Select -	- Select -
Building, Land, Salaries and Wages Expense, Salaries and Wages Payable, Suzanne Emerson Capital	- Select -	- Select -
Land, Salaries and Wages Payable, Suzanne Emerson, Capital, Unearned Rent, Utilities Expense	- Select -	- Select -
Advertising Expense, Building, Salaries and Wages Payable, Suzanne Emerson Capital, Unearned Rent	- Select -	- Select -
Advertising Expense, Land, Repairs Expense, Salaries and Wages Payable, Suzanne Emerson Capital	- Select -	- Select -
Accumulated Depreciation-Building, Depreciation Expense-Building, Equipment, Suzanne Emerson Capital, Unearned Rent	- Select -	- Select -
Accumulated Depreciation-Equipment, Depreciation Expense-Equipment, Equipment, Salaries and Wages Payable, Suzanne Emerson Capital	- Select -	- Select -
Accounts Receivable, Insurance Expense, Suzanne Emerson Capital, Land, Salaries and Wages Payable	- Select -	- Select -
Prepaid Insurance, Salaries and Wages Payable, Supplies, Supplies Expense, Utilities Expense	- Select -	- Select -
Accumulated Depreciation Expense-Building, Accumulated Depreciation Expense-Equipment, Land, Miscellaneous Expense, Prepaid Insurance	- Select -	- Select -
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