Question

Trial Balance December 31, 2019 Account Title Debit Credit Cash 34,000 Teaching supplies 8,000 Prepaid insturance 12,000 Prepaid rent Professional library 3,000 35,000 Accumulated depreciation Professional library Equipment 10,000 80,000 Accumulated depreciation - Equipment Accounts payable Unearned training fees T. Wells, Capital T. Wells, Withdrawals 15,000 26,000 12,500 90,000 50,000 Tuition fees earned 123,900 Training fees earned 40,000 Salaries expense 50,000 33,000 Rent expense Advertising expense 6,000 Utilities expense 6,400 Total 317,400 317,400 $

Answer 1

Journal

a	Insurance expense	2,400
	Prepaid insurance		2,400
b	Teaching Supplies expense	5,200
	Teaching Supplies		5,200
c	Depreciation expense	13,200
	Accumulated depreciation - Equipment		13,200
d	Depreciation expense	7,200
	Accumulated depreciation - Professional library		7,200
e	Unearned training fee	5,000
	Training fees		5,000
f	Accounts receivable	7,500
	Training fees		7,500
g	Salaries expense	400
	Salaries payable		400
h	Rent expense	3,000
	Prepaid rent		3,000

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