1. eBook

   Question Content Area

   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	4,570
   Accounts Receivable	41,470
   Prepaid Insurance	7,730
   Supplies	2,110
   Land	121,960
   Building	220,010
   Accumulated DepreciationBuilding			149,020
   Equipment	146,560
   Accumulated DepreciationEquipment			106,140
   Accounts Payable			13,000
   Unearned Rent			7,380
   Common Stock			80,000
   Retained Earnings			159,000
   Dividends	16,170
   Fees Earned			351,470
   Salaries and Wages Expense	209,480
   Utilities Expense	46,040
   Advertising Expense	24,600
   Repairs Expense	18,630
   Miscellaneous Expense	6,680
   	866,010		866,010

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

   Required:

   • Unexpired insurance at August 31, $5,180.
   • Supplies on hand at August 31, $630.
   • Depreciation of building for the year, $3,430.
   • Depreciation of equipment for the year, $2,970.
   • Rent unearned at August 31, $1,920.
   • Accrued salaries and wages at August 31, $3,350.
   • Fees earned but unbilled on August 31, $19,680.

   Question Content Area

   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 InsuranceInsurance Expense	Insurance Expense
   	Accounts PayableCashInsurance ExpenseInsurance PayablePrepaid InsurancePrepaid ReceivablePrepaid Insurance		Prepaid Insurance
   b.	Accounts PayableCashSupplies ExpenseSupplies PayableSuppliesSupplies Expense	Supplies Expense
   	Accounts PayableCashSupplies ExpenseSupplies PayableSuppliesSupplies		Supplies
   c.	Accounts PayableAccumulated Depreciation-BuildingBuilding ExpenseBuildingDepreciation Expense-BuildingDepreciation Payable-BuildingDepreciation Expense-Building	Depreciation Expense-Building
   	Accounts PayableAccumulated Depreciation-BuildingBuilding ExpenseBuildingDepreciation Expense-BuildingAccumulated Depreciation-Building		Accumulated Depreciation-Building
   d.	Accounts PayableAccumulated Depreciation-EquipmentDepreciation Expense-EquipmentDepreciation Payable-EquipmentEquipment ExpenseEquipmentDepreciation Expense-Equipment	Depreciation Expense-Equipment
   	Accounts PayableAccumulated Depreciation-EquipmentDepreciation Expense-EquipmentEquipment ExpenseEquipmentAccumulated Depreciation-Equipment		Accumulated Depreciation-Equipment
   e.	CashPrepaid RentRent ExpenseRent RevenueUnearned ReceivableUnearned RentUnearned Rent	Unearned Rent
   	CashPrepaid RentRent ExpenseRent RevenueUnearned RentRent Revenue		Rent Revenue
   f.	Accounts PayableCashFees EarnedSalaries and Wages ExpenseSalaries and Wages PayableSalaries and Wages Expense	Salaries and Wages Expense
   	Accounts PayableCashFees EarnedSalaries and Wages ExpenseSalaries and Wages PayableSalaries and Wages Payable		Salaries and Wages Payable
   g.	Accounts PayableAccounts ReceivableCashFees EarnedUnearned FeesAccounts Receivable	Accounts Receivable
   	Accounts PayableAccounts ReceivableCashFees EarnedFees PayableUnearned FeesFees Earned		Fees Earned

   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 RentCash	Cash	Cash
   Accounts PayableAccounts ReceivableMonica Baker, DrawingFees EarnedInsurance PayableRent RevenueSalaries and Wages PayableSupplies RevenueAccounts Receivable	Accounts Receivable	Accounts Receivable
   Advertising ExpenseAccumulated Depreciation-BuildingFees PayableInsurance ExpenseInsurance PayableMiscellaneous ExpensePrepaid InsuranceRent RevenuePrepaid Insurance	Prepaid Insurance	Prepaid Insurance
   Accounts PayableAccumulated Depreciation-BuildingAccumulated Depreciation-EquipmentFees EarnedRent RevenueSalaries and Wages PayableSuppliesUnearned RentSupplies	Supplies	Supplies
   Accounts PayableAccumulated Depreciation-EquipmentFees EarnedLandSalaries and Wages ReceivableUnearned RentLand	Land	Land
   Accounts PayableBuildingFees EarnedFees PayableInsurance PayableRent RevenueSalaries and Wages PayableSupplies ExpenseBuilding	Building	Building
   Accumulated Depreciation-BuildingDepreciation Expense-BuildingFees EarnedMiscellaneous ExpenseRepairs ExpenseUtilities ExpenseAccumulated Depreciation-Building	Accumulated Depreciation-Building	Accumulated Depreciation-Building
   Accounts PayableEquipmentFees EarnedInsurance PayableRent RevenueSalaries and Wages PayableSupplies ExpenseUnearned RentEquipment	Equipment	Equipment
   Accounts PayableAdvertising ExpenseAccumulated Depreciation-EquipmentDepreciation Expense-EquipmentFees EarnedRent RevenueAccumulated Depreciation-Equipment	Accumulated Depreciation-Equipment	Accumulated Depreciation-Equipment
   Accounts PayableAccounts ReceivableAccumulated Depreciation-BuildingBuildingCashEquipmentFees EarnedLandAccounts Payable	Accounts Payable	Accounts Payable
   Accumulated Depreciation-BuildingAccumulated Depreciation-EquipmentBuildingCashFees EarnedPrepaid InsuranceRent RevenueUnearned RentUnearned Rent	Unearned Rent	Unearned Rent
   Advertising ExpenseAccounts ReceivableLandPrepaid InsuranceRent RevenueSalaries and Wages PayableSuppliesUnearned RentSalaries and Wages Payable	Salaries and Wages Payable	Salaries and Wages Payable
   Common StockFees EarnedLandPrepaid InsuranceRent RevenueSalaries and Wages PayableSuppliesUnearned RentCommon Stock	Common Stock	Common Stock
   Accounts PayableAccounts ReceivableAccumulated Depreciation-BuildingAccumulated Depreciation-EquipmentBuildingEquipmentFees EarnedLandRetained EarningsRetained Earnings	Retained Earnings	Retained Earnings
   Common StockDividendsFees EarnedRent RevenueDividends	Dividends	Dividends
   Accounts PayableAccounts ReceivableAccumulated Depreciation-BuildingBuildingCashFees EarnedPrepaid InsuranceSalaries and Wages PayableUnearned RentFees Earned	Fees Earned	Fees Earned
   Accumulated Depreciation-EquipmentBuildingEquipmentLandRent RevenueSalaries and Wages ExpenseSupplies ExpenseUnearned RentRent Revenue	Rent Revenue	Rent Revenue
   Common StockRetained EarningsSalaries and Wages ExpenseSalaries and Wages PayableSalaries and Wages Expense	Salaries and Wages Expense	Salaries and Wages Expense
   Common StockRetained EarningsSalaries and Wages PayableUnearned RentUtilities ExpenseUtilities Expense	Utilities Expense	Utilities Expense
   Advertising ExpenseCommon StockRetained EarningsSalaries and Wages PayableUnearned RentAdvertising Expense	Advertising Expense	Advertising Expense
   Common StockRepairs ExpenseRetained EarningsSalaries and Wages PayableUnearned RentRepairs Expense	Repairs Expense	Repairs Expense
   Accumulated Depreciation-Building Common StockDepreciation Expense-BuildingRetained EarningsSalaries and Wages PayableUnearned RentDepreciation Expense-Building	Depreciation Expense-Building	Depreciation Expense-Building
   Accumulated Depreciation-EquipmentCommon StockDepreciation Expense-EquipmentRetained EarningsSalaries and Wages PayableUnearned RentDepreciation Expense-Equipment	Depreciation Expense-Equipment	Depreciation Expense-Equipment
   Common StockInsurance ExpenseRetained EarningsSalaries and Wages PayableUnearned RentInsurance Expense	Insurance Expense	Insurance Expense
   Accumulated Depreciation Expense-BuildingAccumulated Depreciation Expense-EquipmentLandPrepaid InsuranceSalaries and Wages PayableSuppliesSupplies ExpenseUtilities ExpenseSupplies Expense	Supplies Expense	Supplies Expense
   Accumulated Depreciation Expense-BuildingAccumulated Depreciation Expense-EquipmentLandMiscellaneous ExpensePrepaid InsuranceSalaries and Wages PayableSuppliesUtilities ExpenseMiscellaneous Expense	Miscellaneous Expense	Miscellaneous Expense
   Totals	fill in the blank 1a428600d027fa8_79	fill in the blank 1a428600d027fa8_80