Question
a . An analysis of LTI's insurance policies shows that $ 2 , 5 5 0 of coverage has expired. b . An inventory count
a An analysis of LTI's insurance policies shows that $ of coverage has expired.
b An inventory count shows that teaching supplies costing $ are available at yearend.
c Annual depreciation on the equipment is $
d Annual depreciation on the professional library is $
e On November LTI agreed to do a special sixmonth course starting immediately for a client. The contract calls for a monthly fee of $ and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited.
f On October LTI agreed to teach a fourmonth class beginning immediately for hs executive with payment due at the end of the class. At December $ of the tuition has been earned by LTI.
g LTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $ per day for each employee.
h The balance in the Prepaid Rent account represents rent for December.
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