1. Based on the following unadjusted trial balance for the company the Tech Academy, please record the following adjustments using t- accounts and journalizing the transactions:

Tech Academy

Unadusted Trial Balance

Dec 31/2015

Debit

Credit

Cash

$ 12,000

Prepaid Expense - Supplies

$ 3,000

Prepaid Expense - Insurance

$ 2,400

Furniture

$ 5,000

Computers

$ 3,000

Company Car

$ 40,000

Accounts Payable

$ 30,000

Wages Payable

$ 5,000

Notes Payable

$ 5,000

Owner's Capital

$ 20,000

Revenues

$ 8,900

Wages Expense

$ 2,000

Rent Expense

$ 1,000

Utilities Expense

$ 500

TOTAL

$ 68,900

$ 68,900

On December 31, the Tech Academy counted their supplies and realized they no longer have 3,000, now they have only 500.

The insurance policy for 12 months was bought in November 1/2014.

The Computers were bought 2 years ago, every year 20% of the initial value depreciates.

The furniture was bought 1 year ago, every year 30% of the initial value depreciates.

On December 31, 2,000 of wages payable were paid to employees.

On December 31, 500 dollars of wages were owed to employees for services performed on December 27, 28, and 29.

On December 1, the company signed a contract to perform services for 50 dollars per hour. On December 31, 100 hours of service have

been performed.

On December 1, the company signed a contract with a snow removal company, by the end of the month the snow removal company has

provided services for 1,000 dollars to be payable in the future.

On December 31, the company received 10,000 dollars in advance for services to be provided in the future.

The company's car was bought 5 years ago, it depreciates at a rate of 10% per year.

2. Find the balances of each T-account and build the adjusted trial balance for the Tech Academy for December 31, 2015.