Rowland Company is a small editorial services company owned and operated by Marlene Rowland. On August 31, 2016, 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 7,500.00 Accounts Receivable 38,400.00 Prepaid Insurance 7,200.00 Supplies 1,980,00 5 Land 112,500.00 & Building 150,250.00 87,550.00 135,300.00 7 Accumulated Depreciation Building * Equipment Accumulated Depreciation Equipment 10 Accounts Payable 97,950.00 12.150.00 11 Unearned Rent 6,750.00 11 Common Stock 75,000.00 13 Retained Earnings 146,000.00 14 Dividends 15,000.00 15 Fees Earned 324,600.00 193,370.00 1 Salaries and Wages Expense 17 Utilities Expense 15 Advertising Expense 42,375.00 22,800.00 14 Dividends 15,000.00 15 Fees Eamed 324,600.00 195,370.00 42,375.00 16 Salaries and Wages Expense 13 Utilities Expense 11 Advertising Expense 19 Repaits Expense 20 Miscellaneous Expense 22,800.00 17,250.00 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, S4,150. e. Rent unearned at August 31, $1,550 f. Accrued salaries and wages at August 31, $3,200. 9. Fees earned but unbilled on August 31, $11,330, Required: 1. Journalize the adjusting entries using the following additional accounts. Salaries and Wages Payable; Rent Revenue Insurance Expense: Depreciation Exponse - Building, 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. 2. Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance. How does grading work? Rowland Company Score: 60/107 ADJUSTED TRIAL BALANCE August 31, 2018 ACCOUNT TITLE DEBIT CREDIT 1 Cash 7,500.00 1 Accounts Receivable 48,450.00 3 Prepaid Insurance 600.00 4 Supplies 675.00 5 Land 112,500.00 6 Building 300,250.00 99,550.00 7 Accumulated Depreciation Building 8 Equipment 135,300.00 9 Accumulated Depreciation Equipment 97,950.00 10 Accounts Payable 12,150.00 11 Unearned Rent 2,250.00 12 Salaries and Wages Payable 2,800.00 13 Common Stock 9,000.00 14 Retained Earnings 15 Dividends 1,750.00 21,200.00 16 Fees Earned 17 Rent Revenue 196,170.00 18 Salaries and Wages Expense Land TASUUUU 6 Building 300,250.00 7 Accumulated Depreciation-Building 99,550.00 8 Equipment 135,300.00 9 Accumulated Depreciation Equipment 97,950.00 10 Accounts Payable 12,150.00 11 Unearned Rent 2,250.00 12 Salaries and Wages Payable 2,800.00 13 Common Stock 9,000.00 14 Retained Earnings 15 Dividends 1,750.00 16 Fees Eamed 21,200.00 17 Rent Revenue 18 Salaries and Wages Expense 196,170.00 19 Utilities Expense 42,375,00 20 Advertising Expense 22,800.00 21 Repairs Expense 17,250.00 22 Depreciation Expense-Building 12,000.00 23 Depreciation Expense-Equipment 24 Insurance Expense 6,600.00 25 Supplies Expense 925.00 26 Miscellaneous Expense 6,075.00 27 Totals