Name: Unexpired insurance at October 31 = $600 Supplies on hand on October 31 = $675 1. Pedroni Fuel Company is a small oil services company owned and operated by Ray Zorzi. On October 31, 2019 the end of the current year, Pedronị Company's accounting clerk prepared the following unadjusted trial balance Depreciation of Building for the year = $12,000 Unearned Rent on October 31 =$2,250 Accrued Salary and Wages at October 31 = $2,800 Fees earned but unbilled on October 31 = $10,050 Pedroni Fuel Company Unadjusted Trial Balance Instructions: October 31, 2019 Journalize the adjusting entries using the following additional accounts: Salaries & Wages Payable, Rent Revenue, Insurance Expense, Depreciation Expense - Building, Depreciation Expense - Equipment, and Supplies Expense. Debit Credit Cash 7,500 Accounts Receivable 38,400 2. Determine the balances of the accounts affected by the adjusting entries (T" Accounts) and prepare an adjusted trial balance. Prepaid Insurance 7,200 Supplies 1,980 Land 112,500 3. Prepare an Income Statement, Balance Sheet, and Statement of Owners Equity. Building 300,250 Accumulated Depreciation - Building 87,550 4. Pedroni Oil Company purchased packaging equipment on January 8 for $72,000. The equipment was expected to have a useful life of three years or 18,000 operating hours, and a residual value of $4,500. The equipment was used for 7,600 hours during year 1, 6,000 hours in year 2, and 4,400 hours in year 3. Equipment 135,300 Accumulated Depreciation - Equipment 97,950 Accounts Payable 12,150 Determine the amount of depreciation expense for the three years ending December 31, by the Straight line method, The units of activity method, and the double declining balance method. Finally determine the total amount of depreciation expense for the three years by each method. Unearned Rent 6,750 Ray Zorzi - Capital 371,000 Ray Zerzi - Drawing 15,000 5. On July 31, 2019 the balances of the accounts appearing in the ledger of Pedroni Interiors company a furniture wholesales, are as follows. Fee's Earned 324,600 Salary & Wages Expense 193,370 Accumulated Depreciation – Building $365,000 Ray Zorzi- Capital $530,000 Utilities Expense 42,375 Administrative Expenses 440,000 Ray Zarzi - Drawing 15,000 Advertising Expense 22,800 Building 810,000 Sales 1,437,000 Repairs Expense 17,250 Cash 78,000 Sales tax Payable 4,500 Miscellaneous Expense 6,075 Cost of Merchandise Sold 775,000 Selling Expense 160,000 Total 900,000 900,000 Interest Expense 6,000 Store Supplies 16,000 Merchandise Inventory 115,000 Store Supplies Expense 21,500 Year End Adjustment