Question: I'll rate since got limit question to ask please do not give me any wrong ans thanks Adjusting Entries and Adjusted Trial Balances Pitman Company

I'll rate since got limit question to ask please do not give me any wrong ans thanks

Adjusting Entries and Adjusted Trial Balances

Pitman Company is a small editorial services company owned and operated by Jan Pitman. On October 31, 2019, the end of the current year, Pitman Company's accounting clerk prepared the following unadjusted trial balance:

Pitman Company
Unadjusted Trial Balance
October 31, 2019
Debit Balances Credit Balances
Cash 3,640
Accounts Receivable 33,080
Prepaid Insurance 6,170
Supplies 1,680
Land 97,270
Building 255,460
Accumulated DepreciationBuilding 118,860
Equipment 116,900
Accumulated DepreciationEquipment 84,660
Accounts Payable 10,370
Unearned Rent 5,890
Jan Pitman, Capital 270,600
Jan Pitman, Drawing 12,900
Fees Earned 280,330
Salaries and Wages Expense 167,080
Utilities Expense 36,720
Advertising Expense 19,620
Repairs Expense 14,860
Miscellaneous Expense 5,330
770,710 770,710

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

Required:

Unexpired insurance at October 31, $4,130.

Supplies on hand at October 31, $500.

Depreciation of building for the year, $2,730.

Depreciation of equipment for the year, $2,370.

Unearned rent at October 31, $1,530.

Accrued salaries and wages at October 31, $2,670.

Fees earned but unbilled on October 31, $15,700.

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.

a.
b.
c.
d.
e.
f.
g.

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.

Pitman Company
Adjusted Trial Balance
October 31, 2019
Debit Balances Credit Balances
Totals

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