ter 3 The Adjusting Process ebit 180 PR 3-5A Adjusting entries and adjusted trial balances OBJ. 2, 3, 4 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 account- ing clerk prepared the following unadjusted trial balance: Rowland Company Unadjusted Trial Balance August 31, 2016 Debit Credit Balances Balances Cash 7,500 Accounts Receivable. 38,400 Prepaid Insurance 7,200 Supplies.. 1,980 Land 112,500 Building 150,250 Accumulated Depreciation-Building. 87,550 Equipment... 135,300 Accumulated Depreciation Equipment 97,950 Accounts Payable 12,150 Unearned Rent. 6,750 Marlene Rowland, Capital. 221,000 Marlene Rowland, Drawing 15,000 Fees Earned... 324,600 Salaries and Wages Expense. 193,370 Utilities Expense 42,375 Advertising Expense. 22,800 Repairs Expense.. 17,250 Miscellaneous Expense 6,075 750,000 750,000 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 Expense-Building; Depreciation Expense-Equipment; and Supplies Expense. 2. Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance, 1. Account Debit Credit a b. C d ILIUM e g A B C D E F G H I J | | | N GALLOWAY COMPANY Adjusted Trial Balance July 31, 2012 Debit Credit Cash Accounts Receivable Prepaid Insurance Supplies Land Building Accumulated Depreciation - Building Equipment Accumulated Depreciation - Equipment Accounts Payable Uneamed Rent Salaries and Wages Payable Fran Briggs, Capital Fran Briggs, Drawing Fees Eamed Rent Revenue Salaries and Wages Expense Utilities Expense Advertising Expense Repairs Expense Depreciation Expense - Building Depreciation Expense - Equipment Insurance Expense Supplies Expense Miscellaneous Expense