Adjusting entries and adjusted trial balances

Misfire company is a small editorial services company owned and operated by Pedro Borman. On august 31st 2010, the end of the current year, Misfire’s accounting clerk prepared the unadjusted Trial Balance shown below: The data to determine the year-end adjustments are as follows:
a. unexpired insurance at August 31, $1,800.
b. Supplies on hand at August 31, $750.
c.Depreciation for the building for the year. $2,000
d.Depreciation for the equipment for the year, $5,000
e. Rent unearned August 31, $2850.
f.Accrued salaries and wages at August 31, $2,800.
g. Fees earned but unbilled on August 31, $12,380.

*********INSTRUCTIONS**************
1. Journalize the adjusting entries. Add additional accounts as needed.
2. Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance.
Attached is the unadjusted trial balance

Misfire Company

Unadjusted Trial Balance

August 31, 2010

Debits Credits

Balances Balances

Cash………………………………………………………………………………………………………………………………. 7,500

Accounts Receivable……………………………………………………………………………………………………… 38,400

Prepaid Insurance………………………………………………………………………………………………………….. 7,200

Supplies………………………………………………………………………………………………………………………….. 1,980

Land……………………………………………………………………………………………………………………………….. 112,500 Building………………………………………………………………………………………………………………………….. 200,250

Accumulated Depreciation—Building……………………………………………………………………………. 137,550

Equipment……………………………………………………………………………………………………………………… 135,300

Accumulated Depreciation—Equipment………………………………………………………………………. 97,950

Accounts Payable…………………………………………………………………………………………………………… 12,150

Unearned Rent……………………………………………………………………………………………………………… 6,750

Pedro Borman Capital…………………………………………………………………………………………………….. 221,000

Pedro Borman, Drawing………………………………………………………………………………………………… 15,000

Fees Earned……………………………………………………………………………………………………………………. 324,600 Salaries and Wages Expense…………………………………………………………………………………………. 193,370

Utilities Expense…………………………………………………………………………………………………………….. 42,375

Advertising Expense……………………………………………………………………………………………………… 22,800

Repairs Expense……………………………………………………………………………………………………………. 17,250

Miscellaneous Expense………………………………………………………………………………………………… 6,075

800,000 800,000