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Reece Financial Services Co. Unadjusted Trial Balance July 31, 2019 Debit Balances Credit Balances Cash 10,200 34,750 Accounts Receivable Prepaid Insurance 6,000 Supplies Land 1,725

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Reece Financial Services Co. Unadjusted Trial Balance July 31, 2019 Debit Balances Credit Balances Cash 10,200 34,750 Accounts Receivable Prepaid Insurance 6,000 Supplies Land 1,725 50,000 155,750 Building Accumulated Depreciation---Building 62,850 Equipment 45,000 Accumulated Depreciation Equipment 17,650 Accounts Payable 3,750 Unearned Rent Joni Reece, Capital Joni Reece, Drawing 3,600 153,550 8,000 Fees Eamed 158,600 Salaries and Wages Expense 56,850 Land 155,750 Building Accumulated Depreciation-Building S 62,850 45.000 I SA 17,650 Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Rent 3,750 3,600 Joni Reece, Capital 153,550 Joni Reece, Drawing 8,000 Fees Earned 158,600 Salaries and Wages Expense 56,850 14,100 7,500 Utilities Expense Advertising Expense Repairs Expense Miscellaneous Expense 6,100 4,025 400,000 400,000 The data needed to determine year-end adjustments are as follows: Depreciation of building for the year, $6,400. Depreciation of equipment for the year, $2,800. Accrued salaries and wages at July 31, $900. Unexpired insurance at July 31, $1,500. Fees earned but unbilled on July 31, $10,200. Supplies on hand at July 31, $615. Rent unearned at July 31, $300. 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. 2019 July 31 2. Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance. If an amount box does not require an entry, leave it blank, Reece Financial Services Co. Adjusted Trial Balance July 31, 2019 Debit Balances Credit Balances 2. Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance. If an amount box does not require an entry, leave it blank. Reece Financial Services Co. Adjusted Trial Balance July 31, 2019 Debit Balances Credit Balances

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