PR 3-5B Adjusting entries and adjusted trial balances Obj. 2, 3, 4, 5, 6 2. Total of Debit Reece Financial Services Co., which specializes in appliance repair services, is owned and oper- column: $420,300 ated by Joni Reece. Reece Financial Services' accounting clerk prepared the following unadjusted trial balance at July 31, 2018: Reece Financial Services Co. Unadjusted Trial Balance July 31, 2018 EXCEL TEMPLATE GENERAL LEDGER Debit Balances Credit Balances Cash Accounts Receivable. Prepaid Insurance 10,200 34,750 6,000 1,725 50,000 Land Building Accumulated Depreciation-Building Equipment. Accumulated Depreciation-Equipment.. Accounts Payable Unearned Rent Common Stock Retained Earnings Dividends Fees Earned. .155,750 62,850 45,000 17,650 3,750 3,600 60,000 8.00093,550 158,600 56,850 Utilities Expense Advertising Expense Repairs Expense Miscellaneous Expense 6,100 4.025 400,000 400,000 (Continued) 148 Chapter 3 The Adjusting Process The data needed to determine year-end adjustments are as follows: .Depreciation of building for the year, $6,400 Depreclation of equipment for the year, $2,800. Accrued salaries and wages at July 31, $900. . Unexpired insurance at July 31, $1,500. .Fees earned but unbilled on July 31, $10,200. .Supplies on hand at July 31, $615 .Rent unearned at July 31, $300. Instructions 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. 2. Determine the balances of the accounts affected by the adjusting entries, and adjusted trial balance