Format Painter Merge Center Clipboard Font Alignment F42 11 An asterisk (*) will appear to the right of an incorrect entry. 12 For correct grading in the trial balance, enter a zero in cells you would otherwise leave blank. 13 14 1. Account Debit Credit 2. 37 38 PITMAN COMPANY Adjusted Trial Balance Pr. 3-5A Enter ormat Painter ward BI U BG Font Merge & Center - $ - Alignment C I J E F G H PITMAN COMPANY Adjusted Trial Balance October 31, 2019 Debit Balances Credit Balances Cash $7,500 Accounts Receivable Prepaid Insurance Supplies Land Building Accumulated Depreciation - Building Equipment Accumulated Depreciation - Equipment Accounts Payable Unearned Rent Salaries and Wages Payable Jan Pitman, Capital Jan Pitman, Drawing Fees Earned Rent Revenue Salaries and Wages Expense Utilities Expense Advertising Expense Repairs Expense Depreciation Expense - Building Depreciation Expense - Equipment Insurance Expense Supplies Expense Miscellaneous Expense Pr. 3-5A PPC Liperise..... 54,000 Depreciation Expense-Equipment. 8,850 Depreciation Expense-Automobiles 11,600 Utilities Expense ..... 7,300 12,900 Taxes Expense...... 14,100 8,175 8,175 Insurance Expense ........... Miscellaneous Expense ....... 10,400 9,825 9,825 1,250,000 1,250,000 1.278,200 1.278,200 Instructions Journalize the seven entries that adjusted the accounts at November 30. None of the ac counts were affected by more than one adjusting entry. I of Debit $933,450 xcel eneral dger PR 3-5A Adjusting entries and adjusted trial balances OBJ. 2, 3, 4, 5, 6 Pitman Company is a small editorial services company owned and operated by Jan Pit- man. 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 Debit Credit Balances Balances Cash ..... 7,500 Accounts Receivable.... 38,400 7,200 Prepaid Insurance...... 1,980 Supplies ................ . 112,500 Land ............. 300,250 Building ......... . 87,550 Accumulated Depreciation-Building....... 135,300 Equipment.......... 97,950 Accumulated Depreciation-Equipment.... 12,150 Accounts Payable... Chapter 3 The Adjusting Process 151 6,750 371,000 15,000 324,600 Unearned Rent...... Jan Pitman, Capital ...... Jan Pitman, Drawing.......... Fees Earned........ ...... Salaries and Wages Expense... Utilities Expense ......... Advertising Expense....... Repairs Expense........... Miscellaneous Expense...... 193,370 42,375 22,800 17,250 6,075 900,000 900,000 The data needed to determine year-end adjustments are as follows: Unexpired insurance at October 31, $600. Supplies on hand at October 31, $675. Depreciation of building for the year, $12,000. Depreciation of equipment for the year, $8,600. Unearned rent at October 31, $2,250. Accrued salaries and wages at October 31, $2,800. Fees earned but unbilled on October 31, $10,050. Instructions 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. 2. Determine the balances of the accounts affected by the adjusting entries and prepare an adjusted trial balance
