Sweet Massage Co. unadjusted trial balance is as follows:

Sweet Massage Co. Trial Balance December 31, 2020

Debit

Credit

Cash

$3,200

Prepaid insurance

480

Massage supplies

990

Massage equipment

3,860

Accum depreciation, massage

equipment

$770

Building

67,500

Accum depreciation, building

2,840

Land

55,000

Unearned rent

600

Long-term notes payable

10,000

Sharp, capital

102,560

Sharp, withdrawals

2,700

Rent earned

3,400

Fees earned

23,400

Wages expense

4,200

Utilities expense

690

Property taxes expense

600

Interest expense

4,350

TOTAL

$143,570

$143,570

INSTRUCTION: USE THE FOLLOWING ADJUSTMENTS AND PREPARE

1. ADJUSTING ENTRIES AND 2. ADJUSTED TRIAL BALANCE

(a)

Examination of an insurance policy showed $240 of expired insurance.

(b)

An inventory showed $210 of unused massage supplies on hand.

(c)

Estimated depreciation expense on massage equipment, $350.

(d)

Estimated depreciation expense on the building, $2,220.

(e)

A massage therapist owes $200 for space rental payments, and this was unrecorded at the time the trial balance was prepared.

(f)

$200 of the Unearned Rent account balance was earned by year-end.

(g)

The one employee, a receptionist, works a five-day workweek at $50 per day. The employee was paid last week but has worked three days this week for which she has not been paid.

Three months' property taxes, totaling $450, have accrued. This has not been recorded