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Adjusting Entries and Adjusted Trial Balances

Emerson Company is a small editorial services company owned and operated by Suzanne Emerson. On October 31, 20Y6, Emerson Company's accounting clerk prepared the following unadjusted trial balance:

Debit Balances		Credit Balances
Cash	3,870
Accounts Receivable	35,110
Prepaid Insurance	6,550
Supplies	1,790
Land	103,240
Building	266,210
Accumulated DepreciationBuilding			126,150
Equipment	124,070
Accumulated DepreciationEquipment			89,850
Accounts Payable			11,010
Unearned Rent			6,250
Suzanne Emerson, Capital			282,300
Suzanne Emerson, Drawing	13,690
Fees Earned			297,520
Salaries and Wages Expense	177,320
Utilities Expense	38,980
Advertising Expense	20,830
Repairs Expense	15,770
Miscellaneous Expense	5,650
	813,080		813,080

The data needed to determine year-end adjustments are as follows:

Required:

• Unexpired insurance at October 31, $4,390.
• Supplies on hand at October 31, $540.
• Depreciation of building for the year, $2,900.
• Depreciation of equipment for the year, $2,520.
• Unearned rent at October 31, $1,630.
• Accrued salaries and wages at October 31, $2,840.
• Fees earned but unbilled on October 31, $16,660.

1. Journalize the adjusting entries using the following additional accounts: Salaries and Wages Payable; Rent Revenue; Insurance Expense; Depreciation ExpenseBuilding; Depreciation ExpenseEquipment; and Supplies Expense. If an amount box does not require an entry, leave it blank.

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.

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