The data needed to determine year-end adjustments are as follows: a. Unexpired insurance at January 31, $5,985. b. Supplies on hand at January 31, $470. c. Depreciation of building for the year, $7,900. d. Depreciation of equipment for the year, $4,590. e. Rent unearned at January 31, $1,560. f. Accrued salaries and wages at January 31, $3,085. g. Fees earned but unbilled on January 31, $11,010. 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. 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. General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable 42 Rent Revenue 13 Prepaid Insurance 14 Supplies EXPENSES 15 Land 51 Salaries and Wages Expense 16 Building 52 Utilities Expense 17 Accumulated Depreciation-Building 53 Advertising Expense 18 Equipment 54 Repairs Expense 19 Accumulated Depreciation-Equipment 55 Depreciation Expense-Building 56 Depreciation Expense-Equipment LIABILITIES 57 Insurance Expense 21 Accounts Payable 58 Supplies Expense 22 Unearned Rent 59 Miscellaneous Expense 23 Salaries and Wages Payable EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 Adjusting Entries 2 3 4 5 6 7 8 9 10 11 12 13 14 15 ADJUSTED TRIAL BALANCE January 31, 20Y1 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Accounts Receivable 3 Prepaid Insurance 4 Supplies 5 Land 6 Building 7 Accumulated Depreciation-Building 8 Equipment 9 Accumulated Depreciation-Equipment 10 Accounts Payable 11 Unearned Rent 12 Salaries and Wages Payable 13 Common Stock 14 Retained Earnings 15 Dividends 16 Fees Earned 17 Rent Revenue 12 Salaries and Wages Payable 13 Common Stock 14 Retained Earnings 15 Dividends 16 Fees Earned 17 Rent Revenue 18 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 Trident Repairs & Service UNADJUSTED TRIAL BALANCE November 30, 20Y3 ACCOUNT TITLE DEBIT CREDIT 1 Cash 10,310.00 2 Accounts Receivable 67,890.00 3 Supplies 16,150.00 4 Equipment 111,740.00 5 Accounts Payable 16,080.00 6 Unearned Fees 18,280.00 7 Common Stock 10,500.00 8 Retained Earnings 102,320.00 9 Dividends 13,880.00 10 Fees Earned 299,210.00 11 Wages Expense 94,230.00 12 Rent Expense 72,460.00 13 Utilities Expense 51,660.00 14 Miscellaneous Expense 8,070.00 15 Totals 446,390.00 446,390.00 For preparing the adjusting entries, the following data were assembled: Fees earned but unbilled on November 30 were $9,970. Supplies on hand on November 30 were $4,550. Depreciation of equipment was estimated to be $6,090 for the year. The balance in unearned fees represented the November 1 receipt in advance for services to be provided. During November, $15,260 of the services were provided. Unpaid Wages accrued on November 30 were $4,780. Required: 1. Journalize the adjusting entries necessary on November 30, 20Y3. Refer to the Chart of Accounts for exact wording of account titles. 2. Determine the revenues, expenses, and net income of Trident Repairs & Service before the adjusting entries. 3. Determine the revenues, expenses, and net income of Trident Repairs & Service after the adjusting entries. 4. Determine the effect of the adjusting entries on Retained Earnings