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Reece Financial Services Co. Unadjusted Trial Balance July 31, 2019 Debit Balances Credit Balances Cash Accounts Receivable Prepaid Insurance 3,620 32,820 6,120 Supplies 1,670 Land
Reece Financial Services Co. Unadjusted Trial Balance July 31, 2019 Debit Balances Credit Balances Cash Accounts Receivable Prepaid Insurance 3,620 32,820 6,120 Supplies 1,670 Land 96,510 174,090 117,930 115,980 Building Accumulated Depreciation-Building Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Rent 84,000 10,290 5,840 Common Stock 80,000 109,100 12,790 Retained Earnings Dividends Fees Earned Salaries and Wages Expense 278,140 165,770 I Itilities Fynense 36 440 165,770 36,440 Salaries and Wages Expense Utilities Expense Advertising Expense Repairs Expense Miscellaneous Expense 19,470 14,740 5,280 685,300 685,300 The data needed to determine year-end adjustments are as follows: Depreciation of building for the year, $2,710. Depreciation of equipment for the year, $2,350. Accrued salaries and wages at July 31, $2,650. Unexpired insurance at July 31, $4,100. Fees earned but unbilled on July 31, $15,580. Supplies on hand at July 31, $500. Rent unearned at July 31, $1,520. 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. July 31 31 31 2. 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. Reece Financial Services Co. Adjusted Trial Balance July 31, 2049 Debit Balances Credit Balances
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