Question

eBook Calculator Print Item Instructions 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 trial balance: Pitman Company UNADJUSTED TRIAL BALANCE October 31, 2019 CREDIT ACCOUNT TITLE DEBIT 7,710.00 1 Cash 37,935.00 2 Accounts Receivable 3 Prepaid Insurance 7,070.00 2,125.00 4 Supplies 5 Land 108,400.00 145,300.00 Building 85,610.00 Accumulated Depreciation-Building 134,800.00 Equipment u m or Check My Work uses remaining.

Answer 1

	Journal						Accounting Equation
	Date	Description	Post Ref.	Debit	Credit		Assets	Liabilities	Equity
a	October 31, 2019	Insurance Expense		$            965			$            -965		$            -965
		Prepaid Insurance			$             965
b	October 31, 2019	Supplies Expense		$        1,640			$         -1,640		$         -1,640
		Supplies			$         1,640
c	October 31, 2019	Depreciation Expense- Building		$        7,140			$         -7,140		$         -7,140
		Accumulated Depreciation- Building			$         7,140
d	October 31, 2019	Depreciation Expense- Equipment		$        4,445			$         -4,445		$         -4,445
		Accumulated Depreciation- Equipment			$         4,445
e	October 31, 2019	Unearned rent		$        4,450				$       -4,450	$          4,450
		Rent Revenue			$         4,450
f	October 31, 2019	Salaries and Wages Expense		$        3,330				$         3,330	$         -3,330
		Salaries and Wages Payable			$         3,330
g	October 31, 2019	Accounts Receivable		$      11,475			$        11,475		$        11,475
		Fees Earned			$       11,475

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Adjusted Trial Balance
	Debit	Credit
Cash	$              7,710
Accounts Receivable	$           49,410
Prepaid insurance	$              6,105
Supplies	$                 485
Land	$        1,08,400
Building	$        1,45,300
Accumulated Depreciation- Building		$          92,750
Equipment	$        1,34,800
Accumulated Depreciation- Equipment		$      1,00,545
Accounts Payable		$          12,625
Unearned rent		$            1,890
Jan Pitman, Capital		$      2,19,690
Jan Pitman, Drawing	$           15,120
Fees Earned		$      3,35,175
Salaries and Wages Expense	$        2,00,100
Utilities expense	$           42,265
Advertising expense	$           23,135
Repairs Expense	$           17,195
Miscellaneous Expense	$              6,240
Insurance Expense	$                 965
Supplies Expense	$              1,640
Depreciation Expense- Building	$              7,140
Depreciation Expense- Equipment	$              4,445
Rent Revenue		$            4,450
Salaries and Wages Payable		$            3,330
Total	$        7,70,455	$      7,70,455

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