Required information
[The following information applies to the questions
displayed below.]
Wells Technical Institute (WTI), a school owned by Tristana Wells,
provides training to individuals who pay tuition directly to the
school. WTI also offers training to groups in off-site locations.
Its unadjusted trial balance as of December 31, 2017, follows. WTI
initially records prepaid expenses and unearned revenues in balance
sheet accounts. Descriptions of items athrough h
that require adjusting entries on December 31, 2017, follow.
Additional Information Items
WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31, 2017 |
|||||
Debit | Credit | ||||
Cash | $ | 27,698 | |||
Accounts receivable | 0 | ||||
Teaching supplies | 10,652 | ||||
Prepaid insurance | 15,981 | ||||
Prepaid rent | 2,132 | ||||
Professional library | 31,958 | ||||
Accumulated depreciation—Professional library | $ | 9,589 | |||
Equipment | 74,555 | ||||
Accumulated depreciation—Equipment | 17,046 | ||||
Accounts payable | 36,568 | ||||
Salaries payable | 0 | ||||
Unearned training fees | 13,500 | ||||
Common stock | 13,000 | ||||
Retained earnings | 54,754 | ||||
Dividends | 42,613 | ||||
Tuition fees earned | 108,661 | ||||
Training fees earned | 40,482 | ||||
Depreciation expense—Professional library | 0 | ||||
Depreciation expense—Equipment | 0 | ||||
Salaries expense | 51,136 | ||||
Insurance expense | 0 | ||||
Rent expense | 23,452 | ||||
Teaching supplies expense | 0 | ||||
Advertising expense | 7,457 | ||||
Utilities expense | 5,966 | ||||
Totals | $ | 293,600 | $ | 293,600 | |
3-a. Prepare Wells Technical Institute's income
statement for the year 2017.
3-b. Prepare Wells Technical Institute's statement
of owner's equity for the year 2017.
3-c. Prepare Wells Technical Institute's balance
sheet as of December 31, 2017.
Required information [The following information applies to the questions displayed below.] Wells Technical Institute (WTI), a...
Required information [The following information applies to the questions displayed below.] Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. lts unadjusted trial balance as of December 31, 2018, follows. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31, 2018, follow Additional Information...
Required information [The following information applies to the questions displayed below.] Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Its unadjusted trial balance as of December 31 follows along with descriptions of items a through h that require adjusting entries on December 31. Additional Information Items...
Required information [The following information applies to the questions displayed below.] Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Its unadjusted trial balance as of December 31 follows along with descriptions of items a through h that require adjusting entries on December 31. Additional Information Items...
Required Information The following information applies to the questions displayed below.] Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2017 follows. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31, 2017, follow. Additional Information...
Required information The following information applies to the questions displayed below) Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2018 follows. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31, 2018, follow. Additional Information...
Required information [The following information applies to the questions displayed below.] Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Its unadjusted trial balance as of December 31 follows along with descriptions of items a through h that require adjusting entries on December 31. Additional Information Items...
please help!
Required Information The following formation applies to the questions displayed below) Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2017 follows. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through that require adjusting entries on December 31, 2017, follow. Additional...
Required information [The following information applies to the questions displayed below.) Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Its unadjusted trial balance as of December 31 follows along with descriptions of items a through h that require adjusting entries on December 31. Additional Information Items...
Required information [The following information applies to the questions displayed below.] Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Its unadjusted trial balance as of December 31 follows along with descriptions of items a through h that require adjusting entries on December 31. Additional Information...
Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2018, follows. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31, 2018, follow. Additional Information Items a. An analysis of WTI's insurance policies shows that $4,129...