Instructions Rowland Company is a small editorial services company owned and operated by Marlene Rowland. 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 ACCOUNT TITLE DEBIT CREDIT 1 Cash 7,655.00 2 Accounts Receivable 38,345.00 3 Prepaid Insurance 7,075.00 4 Supplies 2.290.00 5 Land 113,500.00 149,450.00 87,905.00 6 Building 7 Accumulated Depreciation-Building 8 Equipment 9 Accumulated Depreciation Equipment 10 Accounts Payable 133,250.00 96,435.00 11,860.00 11 Unearned Rent 6,705.00 12 Common Stock 74,530.00 13 Retained Earnings 146,290.00 X Instructions 1 Cash 2 Accounts Receivable 7,655.00 38,345.00 3 Prepaid Insurance 7,075.00 + Supplies 2.290.00 5 Land 113,500.00 149,450.00 6 Building 7 Accumulated Depreciation-Building 8 Equipment 87,905.00 133,250.00 96,435.00 11,860.00 9 Accumulated Depreciation-Equipment 10 Accounts Payable 11 Unearned Rent 12 Common Stock 13 Retained Earnings 6,705.00 74,530.00 146,290.00 14 Dividends 14,690.00 15 Fees Earned 328,600.00 198,220.00 16 Salaries and Wages Expense 17 Utilities Expense 18 Advertising Expense 19 Repairs Expense 20 Miscellaneous Expense 42,120.00 22,315.00 17,210.00 6,205.00 21 Totals 752,325.00 752,325.00 The data needed to determine year-end adjustments are as follows: a. Unexpired insurance at August 31, 55,860. b. Supplies on hand at August 31, 5545. c. Depreciation of building for the year, 57,985. d. Depreciation of equipment for the year, $4,080. e. Rent unearned at August 31, $1,145. f. Accrued salaries and wages at August 31, $3,490. g. Fees earned but unbilled on August 31, $11,640. Required: 1. Journalize the adjusting entries using the following additional accounts: Salaries and Wages Payable; Rent Revenue: Insurance Expense; Depreciation ExpenseBuilding: Depreciation Expense-Equipment, and Supplies Expense. Refer to the Chart of Accounts for exact wording of account titles. 2. Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance Chart of Accounts X Rowland Company General Ledger REVENUE 41 Fees Earned 42 Rent Revenue 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 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 LIABILITIES 21 Accounts Payable 22 Unearned Rent 23 Salaries and Wages Payable 58 Supplies Expense 59 Miscellaneous Expense EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends Journal 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. Refer to the Chart of Accounts for exact wording of account titles. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 Adjusting Entries 2 3 4 5 6 7 09 8 9 10 11 12 13 14 15 X Adjusted Trial Balance 2. Determine the balances of the accounts affected by the adjusting entries and prepare an adjusted trial balance. Rowland Company ADJUSTED TRIAL BALANCE August 31, 2018 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 Common Stock 14 Retained Earnings 15 Dividends 16 Fees Earned 10 Accounts Payable 11 Unearned Rent 12 Salaries and Wages Payable 13 Common Stock 14 Retained Earnings 15 Dividends 16 Fees Earned 17 Rent Revenue 18 Salaries and Wages Expense 19 Utilities Expense 20 Advertising Expense 21 Repairs Expense 22 Depreciation Expense-Building 23 Depreciation Expense-Equipment 24 Insurance Expense 25 Supplies Expense 26 Miscellaneous Expense 27 Totals