Emerson Company is a small editorial services company owned and operated by Suzanne Emerson. On October $31,20$Y$6,$ Emerson Company's accounting clerk prepared the following unadjusted trial balance:

Emerson Company

Unadjusted Trial Balance

October $31,20$Y$6$

Debit

Balances Credit

Balances

Cash $3,710$

Accounts Receivable $33,700$

Prepaid Insurance $6,280$

Supplies $1,710$

Land $99,110$

Building $258,790$

Accumulated Depreciation$$Building $121,100$

Equipment $119,100$

Accumulated Depreciation$$Equipment $86,260$

Accounts Payable $10,570$

Unearned Rent $6,000$

Suzanne Emerson, Capital $274,200$

Suzanne Emerson, Drawing $13,140$

Fees Earned $285,620$

Salaries and Wages Expense $170,230$

Utilities Expense $37,420$

Advertising Expense $19,990$

Repairs Expense $15,140$

Miscellaneous Expense $5,430$

$783,750783,750$

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

Unexpired insurance at October $31,$ $$4,210.$

Supplies on hand at October $31,$ $$510.$

Depreciation of building for the year, $$2,790.$

Depreciation of equipment for the year, $$2,420.$

Unearned rent at October $31,$ $$1,560.$

Accrued salaries and wages at October $31,$ $$2,720.$

Fees earned but unbilled on October $31,$ $$15,990.$

Required:

Question Content Area

$1.$ 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. If an amount box does not require an entry, leave it blank.

$20$Y$6$

Oct. $31$

Insurance Expense

$4,210$

Prepaid Insurance

$4,210$

$31$

$31$

$31$

$31$

$31$

$31$

Question Content Area

$2.$ 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