Question

The A-h are the questions that need to be put into grid

Required information Problem 3-3A Preparing adjusting entries, adjusted trial balance, and financial statements LO P1, P2, P3, P4, P6 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 a. An analysis of WTI's insurance policies shows that $3,071 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,662 are available at year-end. c. Annual depreciation on the equipment is $12,285. d. Annual depreciation on the professional library is $6,142. e. On September 1, WTI agreed to do five courses for a client for $2,700 each. Two courses will start immediately and finish before the end of the year. Three courses will not begin until next year. The client paid $13,500 cash in advance for all five courses on September 1, and WTI credited Unearned Training Fees. f. On October 15, WTI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of the class. At December 31, $8,350 of the tuition has been earned by WTI. g. WTi's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $100 per day for each employee. h. The balance in the Prepaid Rent account represents rent for December

another question after this has been posted for PART 2

Answer 1

No.	Account titles and explanation	Debit	Credit
(a)	Insurance expense	$3071
	Prepaid insurance		$3071
	(To record prepaid insurance expired)
(b)	Teaching supplies expense ($10768-2662)	$8106
	Teaching supplies		$8106
	(To record teaching supplies expense)
(c)	Depreciation expense- Equipment	$12285
	Accumulated depreciation- Equipment		$12285
	(To record depreciation expense of equipment)
(d)	Depreciation expense- Professional library	$6142
	Accumulated depreciation- Professional library		$6142
	(To record depreciation expense of Professional library)
(e)	Unearned training fees ($2700*2)	$5400
	Training fees earned		$5400
	(To record training fees earned)
(f)	Accounts receivable	$8350
	Tuition fees earned		$8350
	(To record tuition fees earned)
(g)	Salaries expense ($100*2*2)	$400
	Salaries payable		$400
	(To record accrued salaries)
(h)	Rent expense	$2155
	Prepaid rent		$2155
	(To record rent expense)