Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

3-3b Following is the unadjusted trial balance for Syed Institute as of December 31, 2013, which initially records prepaid expenses and unearned revenues in balance

image text in transcribed
image text in transcribed
3-3b Following is the unadjusted trial balance for Syed Institute as of December 31, 2013, which initially records prepaid expenses and unearned revenues in balance sheet accounts. The Institute provides one-on-one training to individuals who pay tuition directly to the business and offers extension training to groups in off-site locations. Shown after the trial balance are items a through h that require adjusting entries as of December 31, 2013 Adjusted Trial Balance 12/31/2013 ivas Credit Debit 60000 Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciation- Professional library quipment Accumulated depreciation- quipment Accounts payable Salaries payable Unearned training fees Common stock Retained earnings Dividends Tuition fees earned Training fees earned Depreciation expense- Professional library Depreciation expense- 70000 19000 3800 12000 2500 40000 20000 1200 28600 11000 60500 20000 129200 68000 quipment Salaries expense nsurance expense Rent expense Teaching supplies expense Advertising expense 44200 29600 o 19000 3-3b Following is the unadjusted trial balance for Syed Institute as of December 31, 2013, which initially records prepaid expenses and unearned revenues in balance sheet accounts. The Institute provides one-on-one training to individuals who pay tuition directly to the business and offers extension training to groups in off-site locations. Shown after the trial balance are items a through h that require adjusting entries as of December 31, 2013 Adjusted Trial Balance 12/31/2013 ivas Credit Debit 60000 Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciation- Professional library quipment Accumulated depreciation- quipment Accounts payable Salaries payable Unearned training fees Common stock Retained earnings Dividends Tuition fees earned Training fees earned Depreciation expense- Professional library Depreciation expense- 70000 19000 3800 12000 2500 40000 20000 1200 28600 11000 60500 20000 129200 68000 quipment Salaries expense nsurance expense Rent expense Teaching supplies expense Advertising expense 44200 29600 o 19000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Theory

Authors: Craig Deegan

2nd Edition

0077126734, 978-0077126735

More Books

Students also viewed these Accounting questions

Question

4. Record one of your lessons to check yourself for clarity.

Answered: 1 week ago