WELLS TECHNICAL INSTITUTE | ||
Income Statement | ||
For year Ended December 31,2017 | ||
Training Fees Earned | 45,020.00 | |
Tuition Fees Earned | 114,835.00 | |
Total Revenues | 159,855.00 | |
Expenses | ||
Depreciation Expense- Equipment | 11,756.00 | |
Salaries Expense | 50,700.00 | |
Insurance Expense | 2,939.00 | |
Rent Expense | 25,164.00 | |
Teaching Supplies Expense | 7,931.00 | |
Utilities Expense | 5,868.00 | |
Advertising Expense | 7,336.00 | |
Depreciation Expense- Professional Library | 5,878.00 | |
Total Expenses | 117,572.00 | |
Net income | 42,283.00 |
WELL TECHNICAL INSTITUTE | |
Statement of Retained Earnings | |
For Year Ended December 31,2017 | |
Retained Earnings December 31,2016 | 52,646.00 |
Add: Net income | 42,283.00 |
94,929.00 | |
Less: Dividends | 41,916.00 |
Retained Earnings December 31,2017 | 53,013.00 |
Balance Sheet | ||
December,31,2017 | ||
Assets | ||
Cash | 27,245.00 | |
Accounts Receivable | 7,950.00 | |
Teaching Supplies | 2,547.00 | |
Prepaid Insurance | 12,780.00 | |
Professional Library | 31,436.00 | |
Accumulated Depreciation - Professional Library | 15,310.00 | 16,126.00 |
Equipment | 73,338.00 | |
Accumulated Depreciation - Equipment | 28,524.00 | 44,814.00 |
Total Assets | 148,608.00 | 111,462.00 |
Liabilities | ||
Accounts Payable | 36,249.00 | |
Salaries Payable | 400.00 | |
Unearned Training Fees | 7,800.00 | |
Total Liabilities | 44,449.00 | |
Equity | ||
Common Stock | 14,000.00 | |
Retained Earnings | 53,013.00 | 67,013.00 |
Total Liabilities and Equity | 111,462.00 |
please help! Required Information The following formation applies to the questions displayed below) Wells Technical Institute...
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 athrough 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. 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 WTA a school owned by Tristana Wells, provides training to individuals who pay tution directly to the school. WTI also offers training to groups in off-site locations. WTI nally records prepaid expenses and unearned revenues in balance sheet accounts. Its unad usted trial balance as of December 31 follows along with descriptions of items a through 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...
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Saved 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...
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...