T-accounts:
Cash | Equipment | |||||||
Unadj. Bal. | $26,340 | Unadj. Bal. | $70,903 | |||||
Adj. Bal. | $26,340 | Adj. Bal. | $70,903 | |||||
Accounts receivable | Accumulated Depreciation-Equipment | |||||||
Unadj. Bal. | $0 | Unadj. Bal. | $16,210 | |||||
f | $7,250 | c | $10,698 | |||||
Adj. Bal. | $7,250 | Adj. Bal. | $26,908 | |||||
Teaching Supplies | Accounts payable | |||||||
Unadj. Bal. | $10,129 | Unadj. Bal. | $33,112 | |||||
b | $7,811 | |||||||
Adj. Bal. | $2,318 | Adj. Bal. | $33,112 | |||||
Prepaid insurance | Salaries payable | |||||||
Unadj. Bal. | $15,197 | Unadj. Bal. | $0 | |||||
a | $2,674 | g | $400 | |||||
Adj. Bal. | $12,523 | Adj. Bal. | $400 | |||||
Prepaid rent | Unearned training fees | |||||||
Unadj. Bal. | $2,027 | Unadj. Bal. | $14,500 | |||||
h | $2,027 | e | $5,800 | |||||
Adj. Bal. | $0 | Adj. Bal. | $8,700 | |||||
Professional library | Common stock | |||||||
Unadj. Bal. | $30,391 | Unadj. Bal. | $14,000 | |||||
Adj. Bal. | $30,391 | Adj. Bal. | $14,000 | |||||
Accumulated depreciation-Professional library | Retained earnings | |||||||
Unadj. Bal. | $9,119 | Unadj. Bal. | $50,431 | |||||
d | $5,349 | |||||||
Adj. Bal. | $14,468 | Adj. Bal. | $50,431 | |||||
Tuition fees earned | Dividends | |||||||
Unadj. Bal. | $103,332 | Unadj. Bal. | $40,523 | |||||
f | $7,250 | |||||||
Adj. Bal. | $110,582 | Adj. Bal. | $40,523 | |||||
Training fees earned | Rent expense | |||||||
Unadj. Bal. | $38,496 | Unadj. Bal. | $22,297 | |||||
e | $5,800 | h | $2,027 | |||||
Adj. Bal. | $44,296 | Adj. Bal. | $24,324 | |||||
Depreciation expense-Professional library | Teaching supplies expense | |||||||
Unadj. Bal. | $0 | Unadj. Bal. | $0 | |||||
d | $5,349 | b | $7,811 | |||||
Adj. Bal. | $5,349 | Adj. Bal. | $7,811 | |||||
Depreciation expense-Equipment | Advertising expense | |||||||
Unadj. Bal. | $0 | Unadj. Bal. | $7,092 | |||||
c | $10,698 | |||||||
Adj. Bal. | $10,698 | Adj. Bal. | $7,092 | |||||
Salaries expense | Utilities expense | |||||||
Unadj. Bal. | $48,628 | Unadj. Bal. | $5,673 | |||||
g | $400 | |||||||
Adj. Bal. | $49,028 | Adj. Bal. | $5,673 | |||||
Insurance expense | ||||||||
Unadj. Bal. | $0 | |||||||
a | $2,674 | |||||||
Adj. Bal. | $2,674 |
Adjusted Trial Balance:
WELLS TECHNICAL INSTITUTE | ||
Adjusted Trial Balance | ||
December 31,2018 | ||
Account title | Debit | Credit |
Cash | $26,340 | |
Accounts receivable | $7,250 | |
Teaching Supplies | $2,318 | |
Prepaid insurance | $12,523 | |
Prepaid rent | $0 | |
Professional library | $30,391 | |
Accumulated depreciation-Professional library | $14,468 | |
Equipment | $70,903 | |
Accumulated Depreciation-Equipment | $26,908 | |
Accounts payable | $33,112 | |
Salaries payable | $400 | |
Unearned training fees | $8,700 | |
Common stock | $14,000 | |
Retained earnings | $50,431 | |
Dividends | $40,523 | |
Tuition fees earned | $110,582 | |
Training fees earned | $44,296 | |
Depreciation expense-Professional library | $5,349 | |
Depreciation expense-Equipment | $10,698 | |
Salaries expense | $49,028 | |
Insurance expense | $2,674 | |
Rent expense | $24,324 | |
Teaching supplies expense | $7,811 | |
Advertising expense | $7,092 | |
Utilities expense | $5,673 | |
Total | $302,897 | $302,897 |
Required information [The following information applies to the questions displayed below.) Wells Technical Institute (WTI), a...
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 a through h that require adjusting entries on December 31, 2017, follow Additional Information...
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...
help.
[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....
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, 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) Wes 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 on-site locations. WTI Intially 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 ad usting entries on December 31 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...
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...