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Pr 3-5a 1 an 2

Chapter 3 The Adjusting Process of Debit ' PR 5A 3-Adjusting entries and adjusted trial balances Rowland a small editorial services company owned and by Company is operated Marlene Rowland. On August 31, 2016, the end of the current year, Rowland Companys ace ing clerk prepared the following unadjusted trial balance Rowland Company Unadjusted Trial Balance August 31, 2016 Cred Balances Balances 38,400 Accounts Receivable ....... Prepaid insurance Supplies. 1,980 112,500 150,250 Accumulated Depreciation Building 87550 Accumulated Depreciation Equipment Accounts Payable Pr 324,600 750,000 Common Stock Retained Earnings .......... Dividends Fees Earned. ....... Salaries and Wages Expense 193,370 Utilities Expense . 42,375 Advertising Expense... Repairs Expense 17,250 Miscellaneous expense 6.075 750,000 The data needed to determine yearend adjustments are as follows: - a Unexpired insurance at August 31, $6,000. b. Supplies on hand at August 31, $180. G. Depreciation of building for the year, $7,500 d. Depreciation of equipment for the year, $4.50. e. Rent unearned at August 31, $1,550 i Accrued salaries and wages at August 31, $3,200. R. Fees earned but unbilled on August 31, $11.330. Instructions 1. Jourmalize the adjusting entries using the following additional accounts Sahara wages Payable, Rent Revenue, Insurance Expense, Depreciation Expense Depreciation Expense Equipment, and Supplies Expense. 2. Determine the balances of the accounts affected by the and I an adjusted trial balance. adjusting entries, 137750 PR 3-6A Adjusting entries and errors At the end of April, the first month of operations, the following from the financial statements of Shelby Crawford, an attorney selected data were Net income for April Total assets at April 30 $120000 Total liabilities at April 30 Total stockholders' equity at April 30 450,000 In preparing the financial statements, adjustments for following data the were on a Supplies used during April, 2,. b. Unbilled fees earned at April 30, S23,700

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