Question

il tells a. An analysis of WTIs insurance policies shows that $3.468 of coverage has expired. b. An inventory count shows th
WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31 Debit 26, 340 Cash $ Tescounts receivable 10,129 15,197 2,027
2-a. Post the balance from the unadjusted trial balance and the adjusting entries in to the T-accounts. 2-b. Prepare an adjus
2-a. Post the balance from the unadjusted trial balance and the adjusting entries in to the T-account 2-b. Prepare an adjuste
Required information Accumulated depreciation Professional library Equipment Accumulated depreciation Equipment Accounts paya
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Answer #1
Cash Equipment
Unadj. Bal. 26340 Unadj. Bal. 70903
Adj. Bal. 26340 Adj. Bal. 70903
Accounts Receivable Accumulated depreciation- Equipment
Unadj. Bal. $0 Unadj. Bal. $16210
f. 10548 c. 13871
Adj. Bal. 10548 Adj. Bal. $30081
Teaching Supplies Prepaid Insurance
Unadj. Bal. 10129 Unadj. Bal. $15197
b. 7123 a. 3468
Adj. Bal. 3006 Adj. Bal. 11729
Prepaid Rent Professional Liabrary
Unadj. Bal. $2027 Unadj. Bal. $30391
h. 2027
Adj. Bal. $0 Adj. Bal. 30391
Accumulated depreciation-Professional Library Accounts Payable
Unadj. Bal. $9119 Unadj. Bal. $34612
d. 6936
Adj. Bal. 16055 Adj. Bal. 34612
Salaries Payable Unearned Training Fees
Unadj. Bal. $0 Unadj. Bal. $13000
g. 400 e. 5200
Adj. Bal. 400 Adj. Bal. 7800
T.Wells, Capital T.Wells, Withdrawals
Unadj. Bal. $64431 Unadj. Bal. $40523
Adj. Bal. 64431 Adj. Bal. 40523
Tuition fees earned Training fees earned
Unadj. Bal. $103332 Unadj. Bal. $38496
f. 10548 e. 5200
Adj. Bal. 113880 Adj. Bal. 43696
Depreciation expense- Profession Library Depreciation expense- Equipment
Unadj. Bal. $0 Unadj. Bal. $0
d. 6936 c. 13871
Adj. Bal. 6936 Adj. Bal. 13871
Salaries expense Insurance expense
Unadj. Bal. $48628 Unadj. Bal. $0
g. 400 a. 3468
Adj. Bal. 49028 Adj. Bal. 3468
Rent expense Teaching supplies expense
Unadj. Bal. $22297 Unadj. Bal. $0
h. 2027 b. 7123
Adj. Bal. 24324 Adj. Bal.
Advertising expense Utilities expense
Unadj. Bal. $7092 Unadj. Bal. $5673
Adj. Bal. 7092 Adj. Bal. 5673

Teaching supplies expense= $10129-3006= $7123

Salaries payable= $100*2*2= $400

Training fees earned= $2600*2= $5200

WELLS TECHNICAL INSTITUTE
Adjusted Trial Balance
December 31
Debit Credit
Cash $26340
Accounts receivable 10548
Teaching supplies 3006
Prepaid insurance 11729
Prepaid rent 0
Professional library 30391
Accumulated depreciation- Professional library 16055
Equipment 70903
Accumulated depreciation- Equipment 30081
Accounts payable 34612
Salaries payable 400
Unearned training fees 7800
T.Wells, Capital 64431
T.Wells, Withdrawals 40523
Tuition fees earned 113880
Training fees earned 43696
Depreciation expense- Professional library 6936
Depreciation expense- Equipment 13871
Salaries expense 49028
Insurance expense 3468
Rent expense 24324
Teaching supplies expense 7123
Advertising expense 7092
Utilities expense 5673
Totals $310955 $310955
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