PLEASE SOLVE FOR QUESTION 2

Adjusting Entries and Adjusted Trial Balances Emerson Company is a small editorial services company owned and operated by Suzanne Emerson. On October 31, 2016, Emerson Company's accounting clerk prepared the following unadjusted trial balar Emerson Company Unadjusted Trial Balance October 31, 2046 Debit Credit Balances Balances Cash 3,690 Accounts Receivable 33,470 6,240 1,700 98,420 257,570 Prepaid Insurance Supplies Land Building Accumulated Depreciation-Building Equipment Accumulated Depreciation Equipment Accounts Payable Unearned Rent 120.250 118,270 85,650 10,490 5,960 Suzanne Emerson, Capital 272,900 Suzanne Emerson, Drawing 13,050 283,620 169,040 37,150 Fees Earned Salaries and Wages Expense Utilities Expense Advertising Expense Repairs Expense Miscellaneous Expense 19,850 15,030 5,390 778,870 778,870 The data needed to determine year-end adjustments are as follows: Unexpired insurance at October 31, $4,180. Supplies on hand at October 31, $510. Depreciation of building for the year, $2,770. Depreciation of equipment for the year, $2,400. Unearned rent at October 31, 51,550. Accrued salaries and wages at October 31, $2,700. Fees earned but unbilled on October 31, $15,880. Required: Required: 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. If an amount box does not require an entry, leave it blank. 2016 Insurance Expense Oct. 31 Prepaid Insurance 2,060 2,060 1,190 31 Supplies Expense Supplies . 1,190 2.770 31 Depreciation Expense-Building Accumulated Depreciation-Building 2,770 2,100 31 Depreciation Expense-Equipment Accumulated Depreciation Equipment 2.100 31 Unearned Rent 4,410 Rent Revenue 4,410 2,700 31 Salaries and Wages Expense Salaries and Wages Payable 2,700 15,830 31 Accounts Receivable Fees Earned 15,880 Feedback 5. 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. Emerson Company Adjusted Trial Balance October 31, 2016 Debit Balances Credit Balances Cash 3,690 267,740 X 2,060 x 1,190 X 98.420 257,570 117,480 X 118.270 83,250 X 10,490 4,410 x 2,700 272,900 Accounts Receivable Prepaid Insurance Supplies Land Building Accumulated Depreciation-Building Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Rent Salaries and Wages Payable Suzanne Emerson, Capital Suzanne Emerson, 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 13,050 267,740 x 4.10 166,340 X 37,150 19,850 15,030 2,770 2.100 2,060 1,190 5,390