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

Emerson Company

UNADJUSTED TRIAL BALANCE

October 31, 20Y6

	ACCOUNT TITLE	DEBIT	CREDIT
1	Cash	7,710.00
2	Accounts Receivable	37,935.00
3	Prepaid Insurance	7,070.00
4	Supplies	2,125.00
5	Land	108,400.00
6	Building	145,300.00
7	Accumulated Depreciation-Building		85,610.00
8	Equipment	134,800.00
9	Accumulated Depreciation-Equipment		96,100.00
10	Accounts Payable		12,625.00
11	Unearned Rent		6,340.00
12	Suzanne Emerson, Capital		219,690.00
13	Suzanne Emerson, Drawing	15,120.00
14	Fees Earned		323,700.00
15	Salaries and Wages Expense	196,770.00
16	Utilities Expense	42,265.00
17	Advertising Expense	23,135.00
18	Repairs Expense	17,195.00
19	Miscellaneous Expense	6,240.00
20	Totals	744,065.00	744,065.00

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 ExpenseBuilding, Depreciation ExpenseEquipment and Supplies Expense. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
2.	Determine the balances of the accounts affected by the adjusting entries and prepare an adjusted trial balance.

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. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

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JOURNAL

ACCOUNTING EQUATION

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
1		Adjusting Entries
2
3
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9
10
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2. Determine the balances of the accounts affected by the adjusting entries and prepare an adjusted trial balance.

Emerson Company

ADJUSTED TRIAL BALANCE

October 31, 20Y6

	ACCOUNT TITLE	DEBIT	CREDIT
1	Cash
2	Accounts Receivable
3	Prepaid Insurance
4	Supplies
5	Land
6	Building
7	Accumulated Depreciation-Building
8	Equipment
9	Accumulated Depreciation-Equipment
10	Accounts Payable
11	Unearned Rent
12	Salaries and Wages Payable
13	Suzanne Emerson, Capital
14	Suzanne Emerson, Drawing
15	Fees Earned
16	Rent Revenue
17	Salaries and Wages Expense
18	Utilities Expense
19	Advertising Expense
20	Repairs Expense
21	Depreciation Expense-Building
22	Depreciation Expense-Equipment
23	Insurance Expense
24	Supplies Expense
25	Miscellaneous Expense
26	Totals