Date | Account Title | REf | Debit ($) | Credit ($) |
(a) | Insurance Expense | $ 3,468 | ||
Prepaid Insurance | $ 3,468 | |||
(b) | Teaching Supplies Expense | $ 7,530 | ||
Teaching Supplies | $ 7,530 | |||
(c) | Depreciation Expense - Equipment | $ 13,871 | ||
Accumulated Depreciation - Equipment | $ 13,871 | |||
(d) | Depreciation Expense - Professional Library | $ 6,936 | ||
Accumulated Depreciation-Professional Library | $ 6,936 | |||
(e) | Unearned Training Fees ($2,800 * 2) | $5600 | ||
Training Fees Earned | $ 5,600 | |||
(F) | Accounts Receivable (4019 *1/2)+(4019*2) | $6,028 | ||
Tuition Fees Earned | $6,028 | |||
(g) | Salaries Expense | $ 400 | ||
Salaries Payable | $ 400 | |||
(h) | Rent Expense | $ 2,108 | ||
Prepaid Rent | $ 2,108 |
a. An analysis of WTI's insurance policies shows that $3,468 of coverage has expired b. An...
Additional Information Items a. An analysis of WTI's insurance policies shows that $3,203 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,776 are available at year-end. c. Annual depreciation on the equipment is $12,814. d. Annual depreciation on the professional library is $6,407. e. On September 1, WTI agreed to do five courses for a client for $2,300 each. Two courses will start immediately and finish before the end of the year. Three courses will...
il tells a. An analysis of WTI's insurance policies shows that $3.468 of coverage has expired. b. An inventory count shows that teaching supplies costing $3,006 are available at year-end. c. Annual depreciation on the equipment is $13,871 d. Annual depreciation on the professional library is $6,936. e. On September 1, WTI agreed to do five courses for a client for $2,600 each. Two courses will start immediately and finish before the end of the year. Three courses will not...
a. An analysis of WTI's insurance policies shows that $3,335 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,891 are available at year-end. c. Annual depreciation on the equipment is $13,342. d. Annual depreciation on the professional library is $6,671. e. On September 1, WTI agreed to do five courses for a client for $2,800 each. Two courses will start immediately and finish before the end of the year. Three courses will not begin until...
Post the balance from the unadjusted trial balance and the adjusting entries in to the T-accounts. [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...
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 An analysis of WTI's insurance policies shows that $3,732...
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 Problem 3-3A Preparing adjusting entries, adjusted trial balance, and financial statements LO P1, P2, P3 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...
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. WTl 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 WT's insurance policies shows that $2,939 of...
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...