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 6,820.00/0

2 Accounts Receivable 34,940.00/0

3 Prepaid Insurance 6,550.00/0

4 Supplies 1,800.00/0

5 Land 102,400.00/0

6 Building 273,200.00/0

7 Accumulated Depreciation-Building 0/79,660.00

8 Equipment 123,110.00/0

9 Accumulated Depreciation-Equipment 0/89,130.00

10 Accounts Payable 0/11,060.00

11 Unearned Rent 0/6,140.00

12 Suzanne Emerson, Capital 0/338,000.00

13 Suzanne Emerson, Drawing 14,000.00/0

14 Fees Earned 0/295,320.00

15 Salaries and Wages Expense 175,950.00/0

16 Utilities Expense 38,560.00/0

17 Advertising Expense 20,750.00/0

18 Repairs Expense 15,700.00/0

19 Miscellaneous Expense 5,530.00/0

20 Totals 819,310.00/819,310.00

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

a. Unexpired insurance at October 31, $550.

b. Supplies on hand at October 31, $610.

c. Depreciation of building for the year, $10,920.

d. Depreciation of equipment for the year, $7,830.

e. Unearned rent at October 31, $2,050.

f. Accrued salaries and wages at October 31, $2,550.

g. Fees earned but unbilled on October 31, $9,140.

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.

MUST INCLUDE POST REFERENCE

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CHART OF ACCOUNTS

Emerson Company

General Ledger

ASSETS

11 Cash

12 Accounts Receivable

13 Prepaid Insurance

14 Supplies

15 Land

16 Building

17 Accumulated Depreciation-Building

18 Equipment

19 Accumulated Depreciation-Equipment

LIABILITIES

21 Accounts Payable

22 Unearned Rent

23 Salaries and Wages Payable

EQUITY

31 Suzanne Emerson, Capital

32 Suzanne Emerson, Drawing

REVENUE

41 Fees Earned

42 Rent Revenue

EXPENSES

51 Salaries and Wages Expense

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