Reece Financial Services Co., which specializes in appliance repair services, is owned and operated by Joni Reece. Reece Financial Services Co.'s accounting clerk prepared the unadjusted trial balance at July 31,

2014, shown below. Cash Accounts Receivable. Prepaid Insurance Supplies Land Building. Accumulated Depreciation-Building. Equipment... Accumulated Depreciation Equipment Accounts Payable Unearned Rent Reece Financial Services Co. Unadjusted Trial Balance July 31, 2014 Joni Reece, Capital Joni Reece, Drawing Fees Earned.. Salaries and Wages Expense.. Utilities Expense Advertising Expense Repairs Expense.... Miscellaneous Expense. Debit Balances b. Depreciation of equipment for the year, $2,800. c. Accrued salaries and wages at July 31, $900. d. Unexpired insurance at July 31, $1,500. e. Fees earned but unbilled on July 31, $10,200. f. Supplies on hand at July 31, $615. g. Rent unearned at July 31, $300. 10,200 34,750 6,000 1,725 50,000 155,750 45,000 8,000 56,850 14,100 7,500 6,100 4,025 400,000 The data needed to determine year-end adjustments are as follows: a. Depreciation of building for the year, $6,400. Credit Balances 62,850 17,650 3,750 3,600 153,550 158,600 400,000 Instructions 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. 2. Determine the balances of the accounts affected by the adjusting entries and prepare an adjusted trial balance.