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
	DebitBalances		CreditBalances
Cash	4,700
Accounts Receivable	42,670
Prepaid Insurance	7,960
Supplies	2,170
Land	125,490
Building	306,370
Accumulated Depreciation?Building			153,330
Equipment	150,800
Accumulated Depreciation?Equipment			109,210
Accounts Payable			13,380
Unearned Rent			7,590
Jan Pitman, Capital			325,900
Jan Pitman, Drawing	16,630
Fees Earned			361,630
Salaries and Wages Expense	215,530
Utilities Expense	47,370
Advertising Expense	25,310
Repairs Expense	19,170
Miscellaneous Expense	6,870
	971,040		971,040

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

• Unexpired insurance at October 31, $5,330.
• Supplies on hand at October 31, $650.
• Depreciation of building for the year, $3,530.
• Depreciation of equipment for the year, $3,060.
• Unearned rent at October 31, $1,970.
• Accrued salaries and wages at October 31, $3,450.
• Fees earned but unbilled on October 31, $20,250.

Required:

Transcribed Image Text:

1. Journalize the adjusting entries using the following additional accounts: Salaries and Wages Payable; Rent Revenue; Insurance Expense; Depreciation Expense-Building; and Supplies Expense. Depreciation Expense-Equipment; a. b. 9. DD DD DD DD DD DD DD 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1. Journalize the adjusting entries using the following additional accounts: Salaries and Wages Payable; Rent Revenue; Insurance Expense; Depreciation Expense-Building; and Supplies Expense. Depreciation Expense-Equipment; a. b. 9. DD DD DD DD DD DD DD 0 0 0 0 0 0 0 0 0 0 0 0 0 0

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