apter 3 Exercises & Problems eBook Print Item Sears Editing Company UNADJUSTED TRIAL BALANCE January 31, 2011 ACCOUNT TITLE DEBIT CREDIT 1 Cash 7.710.00 2 Accounts Receivable 37,935.00 3 Prepaid Insurance 7,070.00 - Supplies 2,125.00 5 Land 108,400.00 6 Building 7. Accumulated Depreciation Building 145,300.00 85,610.00 8 Equipment 134,800.00 9 Accumulated Depreciation-Equipment 10 Accounts Payable 96,100.00 12,625,00 11 Unearned Rent 6,340.00 12 Common Stock 75.495.00 15 Retained Earnings 144,195.00 14 Dividends 15.120.00 15 Fees Earned 323 700 Chapter 3 Exercises & Problems eBook Print Item 5 Land 108,400.00 145,300.00 85,610.00 6 Building 7 Accumulated Depreciation-Building 3 Equipment 9. Accumulated Depreciation Equipment 10 Accounts Payable 134,800.00 96,100.00 12,625.00 11 Uneamed Rent 6,340.00 12. Common Stock 75,495.00 13 Retained Earnings 144,195.00 14 Dividends 15,120.00 323,700.00 196,770.00 42.265.00 15 Fees Earned 16 Salaries and Wages Expense 17 Utilities Expense 18 Advertising Expense 19 Repairs Expense 20 Miscellaneous Expense 23,135.00 17195.00 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 January 31, 86,105 b. Suppites on hand at January 31, $485, Depreciation of building for the year, 57,840. d Depreciation of equipment for the year, $4,446, e. Rent uneamed at January 31, 51.890. 1. Accrued salaries and wages at January 31, 53,330 Fees eamed but unbilled on January 31, 511,475 Required: 1. Journalize the adjusting entries using the following additional accounts: Salaries and Wages Payable, Rent Revenue Insurance Expense Depreciation Expense-Buiding, Depreciation Expense-Equipment and Supplies Experice. 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 JOURNAL ACCOUNTING EQUATION POST REX DEBIT CREDIT ASSETS LIABILITIES COUNTY 6,105.00 6,105.00 1,640.00 1,640.00 1 7.140.00 DESCRIPTION Adjusting Entries Insurance Expense Prepaid Insurance Supplies Expense Supplies Depreciation Expense - Building Accumulated Depreciation Building Depreciation Expense-Equipment Accumulated Depreciation Equipment Unearned Rent Rent Revenue Salaries and Wages Expense Salaries and Wages Payable Accounts Receivable 7.140.00 4,445.00 4,445.00 1,890.00 1,890.00 3,330.00 3,330.00 11,475.00 Fees Earned 11,475.00 Sears Editing Company ADJUSTED TRIAL BALANCE January 31, 2041 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 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 125 Supplies Expense 26 Miscellaneous Expense 27 Totals