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Pitman Company is a small editorial services company owned and operated by Jan Pitman. On October 31, 2019 the end of the current year, Pitman Company’s accounting clerk prepared the following unadjusted
Pitman Company
UNADJUSTED TRIAL BALANCE
October 31, 2019
ACCOUNT TITLE DEBIT CREDIT
1
Cash
7,710.00
2
Accounts Receivable
37,935.00
3
Prepaid Insurance
7,070.00
4
Supplies
2,125.00
5
Land
108,400.00
6
Building
145,300.00
7
Accumulated
85,610.00
8
Equipment
134,800.00
9
Accumulated Depreciation-Equipment
96,100.00
10
Accounts Payable
12,625.00
11
Unearned Rent
6,340.00
12
Jan Pitman, Capital
219,690.00
13
Jan Pitman, Drawing
15,120.00
14
Fees Earned
323,700.00
15
Salaries and Wages Expense
196,770.00
16
Utilities Expense
42,265.00
17
Advertising Expense
23,135.00
18
Repairs Expense
17,195.00
19
Miscellaneous Expense
6,240.00
20
Totals
744,065.00
744,065.00
The data needed to determine year-end adjustments are as follows:
a. Unexpired insurance at October 31, $6,105.
b. Supplies on hand at October 31, $485.
c. Depreciation of building for the year, $7,140.
d. Depreciation of equipment for the year, $4,445.
e. Unearned rent at October 31, $1,890.
f. Accrued salaries and wages at October 31, $3,330.
g. Fees earned but unbilled on October 31, $11,475.
Required:
1. Journalize the
2. Determine the balances of the accounts affected by the adjusting entries and prepare an adjusted trial balance.
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