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 Companys accounting clerk prepared the following unadjusted trial balance:

Rowland Company

UNADJUSTED TRIAL BALANCE

August 31, 2016

	ACCOUNT TITLE	DEBIT	CREDIT
1	Cash	7,710.00
2	Accounts Receivable	37,935.00
3	Prepaid Insurance	7,070.00
4	Supplies	2,125.00
5	Land	108,400.00
6	Building	145,300.00
7	Accumulated Depreciation-Building		85,610.00
8	Equipment	134,800.00
9	Accumulated Depreciation-Equipment		96,100.00
10	Accounts Payable		12,625.00
11	Unearned Rent		6,340.00
12	Common Stock		75,495.00
13	Retained Earnings		144,195.00
14	Dividends	15,120.00
15	Fees Earned		323,700.00
16	Salaries and Wages Expense	196,770.00
17	Utilities Expense	42,265.00
18	Advertising Expense	23,135.00
19	Repairs Expense	17,195.00
20	Miscellaneous Expense	6,240.00
21	Totals	744,065.00	744,065.00

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

a.	Unexpired insurance at August 31, $6,105.
b.	Supplies on hand at August 31, $485.
c.	Depreciation of building for the year, $7,140.
d.	Depreciation of equipment for the year, $4,445.
e.	Rent unearned at August 31, $1,890.
f.	Accrued salaries and wages at August 31, $3,330.
g.	Fees earned but unbilled on August 31, $11,475.

	Required:
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. 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.

Chart of Accounts

CHART OF ACCOUNTS
Rowland Company
General Ledger
ASSETS 11 Cash 12 Accounts Receivable 13 Prepaid Insurance 14 Supplies 15 Land 16 Building 17 Accumulated Depreciation-Building 18 Equipment 19 Accumulated Depreciation-Equipment LIABILITIES 21 Accounts Payable 22 Unearned Rent 23 Salaries and Wages Payable EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends	REVENUE 41 Fees Earned 42 Rent Revenue EXPENSES 51 Salaries and Wages Expense 52 Utilities Expense 53 Advertising Expense 54 Repairs Expense 55 Depreciation Expense-Building 56 Depreciation Expense-Equipment 57 Insurance Expense 58 Supplies Expense 59 Miscellaneous Expense

Journal

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. Refer to the Chart of Accounts for exact wording of account titles.

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JOURNAL

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT
1		Adjusting Entries
2
3
4
5
6
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9
10
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12
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15

Adjusted Trial Balance

2. Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance.

Rowland Company

ADJUSTED TRIAL BALANCE

August 31, 2016

	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
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