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1:× https V cengagenow.com irr MakeAssignment takeAssignment ain doinvoker-assignments&takeAssignment es ore sionLocator-assignment-take8inprogress 193,370.00 2,375.00 22,80000 17,250.00 6,075.00 HEET n Totals a Unexpired insuranoe at August 31, $8.000 b Supplies on hand at August 31, $480 c. Denreciation of building for the year, $7.500 1, 51,550 153.200. o Fees earned but untbiled on August 31.$11,330 Required: 1. Joumalize the aqjuating entries uaing the follovwing aoditional accounts Saiaries and Wages Payable Rent Revenue Inaurance Expense, All work saved

Explanation / Answer

Journal Entries Insurance Expense $1,200 To Prepaid Insurance $1,200 (7200-6000) (Being insurance expense recorded) (1980-480) Supplies Expense 1500 To Supplies 1500 (Being supplies adjusted for expenses) Depreciation Expense - Building $7,500 To Accumulated Depreciation - Building $7,500 (Being depreciation for building recorded) Depreciation Expense - Equipment $4,150 To Accumulated Depreciation - Equipment $4,150 (Being depreciation for equipment recorded) Rent Unearned 5200 (6750-1550) To Rent Revenue 5200 (Being rent revenue recognised) Salaries and Wages Expense $3,200 To Salaries and Wages Payable $3,200 (Being accrued salaries and wages recorded) Accounts Receivable -Accrued $11,330 To Fees Earned $11,330 Rowland Company Adjusted Trial Balance 31-Aug-18 Debit Credit Cash 7500 Accounts Receivable 49730 Prepaid Insurance 6000 Supplies 480 Land 112500 Building 150250 Accumulated Depreciation - Building 95050 Equipment 150300 Accumulated Depreciation - Equipment 102100 Accounts Payable 12150 Unearned Rent 1550 Common Stock 75000 Retained Earnings 146000 Fees Earned 335930 Salaries and Wages Expense 196570 Utilities Expense 42375 Advertising Expense 22800 Repairs Expense 17250 Miscellaneous Expense 6075 Insurance Expense 1200 Supplies Expense 1500 Depreciation - Building 7500 Depreciation - Equipment 4150 Rent Revenue 5200 Salaries and Wages Expense Payable 3200 776180 776180 Prepaid Insurance 7200-1600 5600 Supplies 1980-480 1500 Accumulated Depreciation - Building 87550+7500 95050 Accumulated Depreciation - Equipment 97950+4150 102100 Unearned Rent 6750-5200 1550 Salaries and Wages Expense 193370+3200 196570 Fees Earned 324600+11330 335930 Accounts Receivable 38400+11330 49730

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