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Rowland Company is a small editorial services company owned and operated by Marlene Rowland. On August 31, 2016, the end of the current year, Rowland Companys accounting clerk prepared the following unadjusted trial balance:

Rowland Company

UNADJUSTED TRIAL BALANCE

August 31, 2016

	ACCOUNT TITLE	DEBIT	CREDIT
1	Cash	7,500.00
2	Accounts Receivable	38,400.00
3	Prepaid Insurance	7,200.00
4	Supplies	1,980.00
5	Land	112,500.00
6	Building	150,250.00
7	Accumulated Depreciation-Building		87,550.00
8	Equipment	135,300.00
9	Accumulated Depreciation-Equipment		97,950.00
10	Accounts Payable		12,150.00
11	Unearned Rent		6,750.00
12	Marlene Rowland, Capital		221,000.00
13	Marlene Rowland, Drawing	15,000.00
14	Fees Earned		324,600.00
15	Salaries and Wages Expense	193,370.00
16	Utilities Expense	42,375.00
17	Advertising Expense	22,800.00
18	Repairs Expense	17,250.00
19	Miscellaneous Expense	6,075.00
20	Totals	750,000.00	750,000.00

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

a.	Unexpired insurance at August 31, $6,000.
b.	Supplies on hand at August 31, $480.
c.	Depreciation of building for the year, $7,500.
d.	Depreciation of equipment for the year, $4,150.
e.	Rent unearned at August 31, $1,550.
f.	Accrued salaries and wages at August 31, $3,200.
g.	Fees earned but unbilled on August 31, $11,330.

	Required:
1.	Journalize the adjusting entries using the following additional accounts: Salaries and Wages Payable; Rent Revenue; Insurance Expense; Depreciation ExpenseBuilding; Depreciation ExpenseEquipment; and Supplies Expense. Refer to the Chart of Accounts for exact wording of account titles.
2.	Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance. CHART OF ACCOUNTS Rowland Company General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Prepaid Insurance 14 Supplies 15 Land 16 Building 17 Accumulated Depreciation-Building 18 Equipment 19 Accumulated Depreciation-Equipment LIABILITIES 21 Accounts Payable 22 Unearned Rent 23 Salaries and Wages Payable EQUITY 31 Marlene Rowland, Capital 32 Marlene Rowland, Drawing REVENUE 41 Fees Earned 42 Rent Revenue EXPENSES 51 Salaries and Wages Expense 52 Utilities Expense 53 Advertising Expense 54 Repairs Expense 55 Depreciation Expense-Building 56 Depreciation Expense-Equipment 57 Insurance Expense 58 Supplies Expense 59 Miscellaneous Expense Journal 1. Journalize the adjusting entries using the following additional accounts: Salaries and Wages Payable; Rent Revenue; Insurance Expense; Depreciation ExpenseBuilding; Depreciation ExpenseEquipment; and Supplies Expense. Refer to the Chart of Accounts for exact wording of account titles. PAGE 10 JOURNAL DATE DESCRIPTION POST. REF. DEBIT CREDIT 1 Adjusting Entries 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Adjustment Trial Barance

2. Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance.

Rowland Company

ADJUSTED TRIAL BALANCE

August 31, 2016

	ACCOUNT TITLE	DEBIT	CREDIT
1	Cash
2	Accounts Receivable
3	Prepaid Insurance
4	Supplies
5	Land
6	Building
7	Accumulated Depreciation-Building
8	Equipment
9	Accumulated Depreciation-Equipment
10	Accounts Payable
11	Unearned Rent
12	Salaries and Wages Payable
13	Marlene Rowland, Capital
14	Marlene Rowland, Drawing
15	Fees Earned
16	Rent Revenue
17	Salaries and Wages Expense
18	Utilities Expense
19	Advertising Expense
20	Repairs Expense
21	Depreciation Expense-Building
22	Depreciation Expense-Equipment
23	Insurance Expense
24	Supplies Expense
25	Miscellaneous Expense
26	Totals

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