Problem $7(20$ PTS$)$

Myrna & Co$.$ is a manufacturer of various types of dyes for industrial use. Following is the unadjusted trial balance as on $31$ August, $2015$:

Unadjusted Trial Balance

$\backslash$table$[[$Account$,$Debit,Credit$],[$Cash$,19\mathrm{.}600\mathrm{.}00,],[$Prepaid Insurance,$4,500\mathrm{.}00,],[$Supplies$,2,600\mathrm{.}00,],[$Land$,20,000\mathrm{.}00,],[$Building$,120,000\mathrm{.}00,],[$Equipment$,16,000\mathrm{.}00,],[$Accounts Payable,,$4,500\mathrm{.}00$