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 Companys accounting clerk prepared the following unadjusted trial balance:

Rowland Company

UNADJUSTED TRIAL BALANCE

August 31, 2018

	ACCOUNT TITLE	DEBIT	CREDIT
1	Cash	7,500.00
2	Accounts Receivable	38,400.00
3	Prepaid Insurance	7,200.00
4	Supplies	1,980.00
5	Land	112,500.00
6	Building	150,250.00
7	Accumulated Depreciation-Building		87,550.00
8	Equipment	135,300.00
9	Accumulated Depreciation-Equipment		97,950.00
10	Accounts Payable		12,150.00
11	Unearned Rent		6,750.00
12	Common Stock		75,000.00
13	Retained Earnings		146,000.00
14	Dividends	15,000.00
15	Fees Earned		324,600.00
16	Salaries and Wages Expense	193,370.00
17	Utilities Expense	42,375.00
18	Advertising Expense	22,800.00
19	Repairs Expense	17,250.00
20	Miscellaneous Expense	6,075.00
21	Totals	750,000.00	750,000.00

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

a.	Unexpired insurance at August 31, $6,000.
b.	Supplies on hand at August 31, $480.
c.	Depreciation of building for the year, $7,500.
d.	Depreciation of equipment for the year, $4,150.
e.	Rent unearned at August 31, $1,550.
f.	Accrued salaries and wages at August 31, $3,200.
g.	Fees earned but unbilled on August 31, $11,330.

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 exact wording of account titles.

2. Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance.

PAGE 10 JOURNAL ACCOUNTING EQUATION DATE POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY DESCRIPTION Adjusting Entries 1 2 3 4 5 6 6 7 8 9 10 11 13 13 15 How does grading work? Rowland Company Score: 48/107 ADJUSTED TRIAL BALANCE August 31, 2018 ACCOUNT TITLE DEBIT CREDIT 1 Cash 7,500.00 49,730.00 2 Accounts Receivable 3 Prepaid Insurance 6,000.00 - Supplies 480.00 5 Land 112,500.00 150,250.00 95,050.00 135,300.00 102,100.00 12,150.00 1,550.00 3,200.00 & Building Accumulated Depreciation Building Equipment 9 Accumulated Depreciation-Equipment 10 Accounts Payable 1: Unearned Rent 12 Salaries and Wages Payable Common Stock 14 Retained Earnings 15 Dividends 16 Fees Earned Rent Revenue 13 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