1. Journalize the adjusting entries using the following additional accounts. Sal

Question

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. Refer to the chart of accounts for exact wording of account titles.
2. Determine the balance of the accounts effected by the adjusting entries, and prepare an adjusted trial balance. Adjusting entries and adj Chart of Accounts Journal Adjusted Trial Balance Rowland Company is a small editorial services company owned and operated by Marlene Rowland. On August 31, 2018, the end of the current year, Rowland Company's accounting clerk prepared the following unadjusted trial balance Rowland Company UNADJUSTED TRIAL BALANCE August 31, 2018 ACCOUNT TITLE DEBIT CREDIT .420.00 38,36000 7.320.00 390.00 17000.00 54,900.00 1 Cash Accounts Receivable Prepaid Insurance 4 Supplies s Land Building

Explanation / Answer

1 Accounting Equation Date Description Post Ref Debit Credit Assets Liabilities Equity Insurance Expense $5,850 5850 To Prepaid Insurance $5,850 5850 2 Supplies Expense $2,080 $2,080 $2,080 To Supplies $2,080 3 Depreciation $7,750 $7,750 $7,750 To Accumulated Depreciation- Building $7,750 4 Depreciation $4,220 $4,220 $4,220 To Accumulated Depreciation- Equipment $4,220 5 Unearned Rent $1,495 $1,495 $1,495 To Rent Revenue $1,495 6 Salaries and Wages Expense $3,040 $3,040 $3,040 To Salaries and Wages Payable $3,040 7 Accounts Receivable $11,185 11185 11185 To Fees Earned $11,185 2 ROWLAND COMPANY ADJUSTED TRIAL BALANCE 31-Aug-18 Account Title Debit Credit Cash 7420 Accounts Receivable 49545 Prepaid Insurance 1470 Supplies 310 2080 Land 117000 Building 154900 Accumulated Depreciation - Building 93495 Equipment 130900 Accumulated Depreciation - Equipment 101770 Accounts Payable 11735 Unearned Rent 5635 Salaries and Wages Payable 3040 Common Stock 74895 Retained Earnings 152750 Dividends 14705 Fees Earned 336735 Rent Revenue 1495 Salaries and Wages Expense 196910 Utilities Expense 42220 Advertising Expense 22740 Repairs Expense 17455 Depreciation Expense- Building 7750 Depreciation Expense- Equipment 4220 Insurance Expense 5850 Supplies Expense 2080 Miscellaneous Expense 6075 Totals 781550 781550

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